A corporate law deals with the formation and operation of corporate organization and is related to commercial & contractual transactions. A corporation is a legal entity created under laws of the states it’s incorporated within .state laws, which vary from state to state, regulate the creation, incorporation and dissolution of their corporations. A corporation creates a legal or “artificial person “or entity that has standing to sue and be sued, enter into contracts, and perform other duties necessary to maintain a business, separate from its stakeholders.
Corporate tax refers to income, capital, net worth or other taxes imposed on corporations. Rates of tax the taxable base for corporation may differ from those for individuals or other taxable persons.