A Corporation (CORP) is a type of business organization created by one or more individuals and/or entities, with a common purpose permitted by law.

By forming a CORP its owners, also known as shareholders, limit their personal liability to their capital investment, so your personal and family assets will remain isolated.

By default, Corporations pay taxes, and shareholders do too. US tax residents may elect to pay taxes as S-Corporation whose shareholders report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates.