Mr

Essay specific features

 

Issue:

Miscellaneous

 

Written by:

James H

 

Date added:

June 19, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

8 / 2013

 

Was viewed:

7681 times

 

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Essay content:

In doing so, the court is said to pierce the corporate veil. The S Corporation provisions pierce the corporate veil and allow the income to be taxed to the shareholders. The Collapsible Corporation rules also pierce the corporate veil. Corporations are created to protect the principals from being held personally responsible for the debts and liabilities of the corporation...
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That protection allows a situation where creditors can lay claim to a corporation's assets, but not the personal assets shareholders of the corporation. In some circumstances, those creditors will attempt to "pierce the corporate veil." This is the legal term used to describe an action to have the corporation opened up in order to allow a creditor to lay claim to the personal assets of the protected corporate shareholders...
displayed 300 characters

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