Common features include limited shareholder liability, centralized governance, continuity independent of ownership changes, and the ability to issue shares. Tax and administrative consequences depend on the corporation and its tax classification.

Swyft Filings offers corporation formation services and prepares and submits the state incorporation paperwork. Corporate formation generally creates the legal corporation first; tax classification and internal governance are separate concepts. For example, S corporation status is a federal tax election for an eligible entity rather than a different state-law corporation in every jurisdiction.