(IEEE) (1) The arrangement of a computer system or component as defined by the number, nature, and interconnections of its constituent parts. (2) In configuration management, the functional and physical characteristics of hardware or software as set forth in technical documentation or achieved in a product.
Inc. after a company name means that the business in question has incorporated within its home state. Status as a C-corporation or an S-Corporation depends on tax filings with the Internal Revenue Service. Incorporation produces a separate entity -- in essence a fictional person created by law.
Buying Stock in S Corporations. Certain small businesses make elections to be taxed as S corporations in order to avoid the double taxation that results by default with corporate entities. Although an LLC member can buy stock in an S corporation if fewer than 100 shareholders exist, an LLC cannot.This is because the rules governing S corporations donât allow LLCs, corporations and other business entities to own stock in the company.If an LLC or other prohibited shareholder does buy stock, the company can lose its S corporation status.uying Stock in S Corporations. Certain small businesses make elections to be taxed as S corporations in order to avoid the double taxation that results by default with corporate entities. Although an LLC member can buy stock in an S corporation if fewer than 100 shareholders exist, an LLC cannot.