# C corporation

> C corporation — A corporation taxed as a taxpayer in its own right: it files Form 1120 and pays 21% of its taxable income, and its shareholders are taxed again on what it pays them as dividends. Every corporation is a C corporation unless it elects S status.

Source: https://lopifi.com/glossary/c-corporation
Part of: Lopifi — US GAAP books on autopilot, checked by a CPA (https://lopifi.com)

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**What is c corporation?** In accounting, c corporation means a corporation taxed as a taxpayer in its own right: it files Form 1120 and pays 21% of its taxable income, and its shareholders are taxed again on what it pays them as dividends. Every corporation is a C corporation unless it elects S status.

## Also known as

- C corp

## Words this system refuses for it

- S corporation
- corporation unqualified when the tax treatment matters

- **Category:** Entity types
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Related:** form-1120