Define civic. civic synonyms, civic pronunciation, civic translation, English dictionary definition of civic. adj. Of, relating to, or belonging to a city, a citizen, or citizenship; municipal or civil. civâ²iÂ·calÂ·ly adv. adj 1. of or relating to a city, citizens, or...
An S corporation status is attractive to smaller, family-owned corporations that want to avoid double taxation: a tax on corporate income and a second tax on amounts distributed to shareholders. This status may also make financial sense if a new corporation is likely to have an operating loss in its first year.
A C corporation is a company that sells shares of stock to shareholders who become the owners of the company. A C corporation is considered a distinct taxpaying entity and must pay taxes on its profits. Large companies traded on stock exchanges are C corporations.