Easier access to capital – Corporations can borrow money at lower rates. They can also raise money by selling shares or bonds to investors (called shareholders).
Lower tax rates – Corporations are taxed separately from their owners. Corporate tax rates are generally lower than personal income tax rates.
Limited liability – Shareholders are not responsible for a corporation’s debts. If your corporation goes bankrupt, your shareholders only lose up to what they invested.
Separate legal entity – Corporations have the same rights as a real person, including owning property, getting loans, and entering into contracts.
Continuous existence – Corporations live on until they wind up, amalgamate, or give up their charter (for example, when they go bankrupt). With other business structures, a business stops existing when the owner dies.