Closed Corporation

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Closed Corporation

A type of business corporation that is owned and operated by a small group of people.

A closed corporation is also known as a close corporation, a family corporation, an incorporated partnership, and a chartered partnership. In this type of corporation all of the functions are usually performed by the same parties. These individuals serve as shareholders, officers, and directors and are involved in the management and operation of the business. A closed corporation differs from a publicly held corporation since its stock is neither issued nor traded to the public at large.

References in periodicals archive ?
The decision only impacts ACA-covered, closely-held companies with bona fide religious beliefs.
Tax compliance costs are especially high for small and closely-held businesses, and complex rules often prevent them from maximizing their ability to invest and create jobs.
Koransky joined the firm in 1993 and specializes in providing accounting and consulting services to real estate entities, synagogues and closely-held businesses.
Though a closely-held company and not required to conform under SOX, it chose to do so as part of its internal control structure.
In "Discounting Minority Stock Interests in Closely-Held Corporations: When and How Much?
In response to the Administration's belief that certain closely-held structures are being used to facilitate corporate tax shelters, the proposals would add a new ownership requirement that would prohibit ownership of more than 50 percent of a REIT's stock by vote or value by any person (not only an individual) other than another REIT.
CFSE) is a full service accounting and consulting firm offering accounting, audit, domestic and international tax, litigation support and consulting services to individuals and businesses, particularly privately-owned, closely-held or emerging companies.
Trans-Pharma is a closely-held company based in San Diego.
Advising companies since 1989, SEG serves the needs of companies ranging from closely-held middle market companies to Fortune 500 companies in industries such as: branded consumer products, software and technology, manufacturing, insurance, transportation and logistics.
Marshall Klarfeld's groundbreaking new book, "ADAM, THE MISSING LINK," blows the lid off a closely-held package of historical and scientific facts proving that the human race was created by genetic engineering technology nearly a quarter of a million years ago.
Strategic Equity Group, located at 6 Hutton Centre Drive in Orange County's South Coast Metro Area (Santa Ana), was founded in 1989 to serve the advisory needs of companies ranging from closely-held middle market companies to Fortune 500 companies in industries such as healthcare, software and hardware, technology, manufacturing, insurance, and consumer products.
Strategic Equity Group, which recently relocated to 6 Hutton Centre Drive in Orange County's South Coast Metro area, was founded in 1989 to serve the advisory needs of companies ranging from closely-held middle market companies to Fortune 500 companies in industries such as: software and hardware, high technology, manufacturing, insurance and branded consumer products.