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 ?
With more than 17 years of public accounting experience, Crowley works with closely-held businesses, real estate entities and not-for-profit organizations.
He divides his time between commercial audit work, the real estate industry and performing tax and accounting services for closely-held businesses.
Milton Gelman, "An Economist-Financial Analyst's Approach to Valuing Stock of a Closely-Held Company," The Journal of Taxation (June 1972): 353-354.
Michael Maher, "Discounts for Lack of Marketability for Closely-Held Business Interests," Taxes--The Tax Magazine (September 1976): 562-571.
Every owner of a closely-held business should be raising this issue with his or her estate planning advisor to lock in lower tax liabilities for the 1998 tax year.
The firm has grown in size to over 130 professionals today and provides services to closely-held and public companies in a variety of industries.
Perry-Smith serves a diverse list of clients in many industries including financial services, manufacturing, health care, education, SEC registered companies, retirement plans, and many closely-held companies.
a closely-held, leading provider of asset repositioning and financial services to retailers, wholesalers, distributors and manufacturers, and their financial institutions.
MCA's excellent reputation for serving the needs of closely-held, owner-managed businesses and not-for-profits, combined with RSM McGladrey's national resources, will provide mid-sized clients with the unique advisory services they need," said Tom Rotherham, chief executive officer of RSM McGladrey.
is a closely-held, private company engaged in the development and marketing of technologies in the minimally invasive neurovascular field.
Micrus Corporation is a closely-held, private company engaged in the development and marketing of technologies in the minimally invasive neurovascular field.
Beller previously was a Vice-Chair and Council Member of the Tax Section, and served as its Liaison to the AICPA and as chair of its Committees on Government Submissions and Closely-Held Corporations.