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Mutual company. A corporation that is owned by a group of members and that distributes income in proportion to the amount of business that members do with the company. Mutual Company. A company structure in which the company's owners are also its clients.
Letâs first understand what a C Corp is. A C Corp is a general corporation. At its core, it is what you have when you form a corporation. Thus, when you file Articles of Incorporation at the state level, your business will be a C Corp. With this type of corporation, your business becomes a separate taxable entity.