The most common type of corporation is a traditional "C" corporation. All companies whose stock is publicly traded are C corporations. C corporations first pay tax on net income at the corporate level. When that income is distributed to shareholders in the form of dividends, the shareholders also pay tax. The result is that C corporation income is taxed twice once at the corporate level and once at the shareholder level.
"S" corporations resemble C corporations except that they elect to be taxed differently.
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ORG was formed and funded by Founder and is tax-exempt under Sec. 501(c)(3) and classified as a private foundation. ORG intends to invest some of ORG's assets in the Investment Trust, a registered investment company offering two investment portfolios, a growth fund and a total return fund.
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Will Rogers has been credited with saying, "Buy land. They ain't making any more of the stuff." These words were not lost on Edna Appleby. Edna began purchasing parcels of land around her Southern California home many years ago.
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