C-Corporation
A C Corporation is taxed under Subchapter C of the Internal Revenue Code (IRC) and must recognize gain or loss on sale, distribution, liquidation. In contrast, S Corporations are not generally taxed on such transactions if built-in gain rules do not apply. However, the shareholders of both C Corporations and S Corporations must recognize gains or losses associated with such distirbution or liquidation.
This brief overview of some important considerations associated with C Corporations is by no means comprehensive. Always seek the advice of a competent professional when making important financial and legal decisions.