C and S Corporations       C corporations are perhaps the most familiar corporate entities since publicly held stock can only be issued by companies organized as C corporations. This entity form offers attractive property contribution features (under Code §351) and may be necessary to attract certain investors. However, at least from a tax perspective, it may not be the best option because there are two layers of tax imposed: the first on the corporate level and the second on the shareholder level. The latter is imposed after the corporation distributes money or property. This may result in higher tax rates for the share owners. By contrast, tax rates for LLCs or S corporations may be lower at similar profit levels while retaining the same or greater limited liability. As with any entity choice, careful consideration must be given to the business’ goals and needs before taking the next step.