Which type of business is defined in part by its public regulation?

A) public corporation

B) sole proprietorship

C) partnership

D) government corporation

The business structure you choose influences everything from day-to-day. A corporation, sometimes called a C corp, is a legal entity that's separate from its owners. Unlike sole proprietors, partnerships, and LLCs, corporations pay income tax the public, nonprofits can receive tax-exempt status, meaning they don't pay.