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no. shareholders are not usually the same legal person. a corporation is a distinct "legal person" because it goes through "incorporation" which breathes a leg
by 2Gkashmiri 1y ago
no. shareholders are not usually the same legal person.
a corporation is a distinct "legal person" because it goes through "incorporation" which breathes a legal life into a concept.
a person does, a corporation has legally perpetual existence because the shareholders can endlessly transfer their shares to other persons and on death the shares are given as inheritance.
- PaulDavisThe1st 1y agoIn which case, when the company distributes profits to shareholders, that is a transfer between people, and is taxed like other similar transfers. There is no double taxation - the company (one legal person) is taxed on income/profit, the shareholders (different legal persons) are taxed on the money they receive from the company.
- 2Gkashmiri 1y agoyep