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Return To Incorporation FAQ Archive   Search the Archives What is a Close Corporation? Answered By Ivan Welten A minor corporation that opts for a close corporation category and is thus enabled in operation without firm formalities necessary to operate along with standard corporations is commonly referred to as a Close Corporation. Most owners of small businesses find such advantage invaluable. Essentially, a close corporation is considered as a corporation whose directors and shareholders are enabled to operate similarly to a partnership. The election of a close corporation is conducted in the level of state. keywords: Incorporation | Incorporate | Incorporating | Business | Small Business | Corporation

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