Replies to post #70882 on Green Energy Enterprises Inc. (GYOG)

[Manti]

You may be on to something.:-) Now we just need the world to find out....

[Sparce]

"the difference between a "Company" and a "Corporation" is...."

---> Correct me if I'm wrong......
A Company -- the owner can be personally liable.(Not nec. a corp.)
A Corporation - the owners personal assets are protected.

A company is any business. A group of people working together -- see websters dictionary.

A corporation is a protected entity where shares are issued to investors. The officers of the company are bound by different tax rules, drawing a salary and taxed on the salary.

The advantage of a plain-jane business is that the owner isn't taxed twice as might be the case in corporation.


..... you CPA's and tax guys out there can describe this better than I can... and I'm sure know more too.