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Unlike an S Corporation, with a C corporation if you pay yourself out and no money is left, there will be no taxes due on the corporation itself. However, if the corporation keeps some of the money, it is taxed, but starting at about 15%; if you then pay this out as a dividend, you the individual are taxed again. You can also add a section to your articles that protects the directors from liability or that they be indemnified by the corporation should that occur, even if they are sued for not properly performing their role as directors (with the assumption they acted in good faith). As you may know, stock in a corporation can be sold, not only for cash, but you can also offer it for services rendered, debts that are owed, or for another benefit the corporation may have had. When you are ready to visit us, come with 3 possible names for your corporation. Your corporate name does not have to state the word limited or Inc etc. unless a name of a person is used in the corporate name. However, in all of your contracts and dealings, you must make it clear that you are a California Corporation or you will lose the protection you seek by filing in the first place. If you prefer to have a different name for your corporation and your actual business, simply file a fictitious name that your corporation will own and then you can use both names.