While there are multiple full forms of SBC, the most common one is “Small Business Corporation”. Small Business Corporation (SBC) is a type of company that is regarded as a small firm.
Benefits of SBC
The SBC program was created to help small businesses grow and compete with larger businesses. Many benefits come with being an SBC, including tax breaks and access to government contracts.
Some of the benefits of being an SBC include:
- Reduced corporate tax rates,
- Accelerated depreciation,
- Exemptions from Secondary Tax on Companies (STC),
- Exemptions from Skills Development Levies (SDL),
- All members (shareholders) must be natural persons,
The major benefit of creating an SBC is that shareholders are protected from limited liability. If the business is sued, the shareholder’s assets are safeguarded. An SBC is qualified to receive contracts from the government, which can be a fruitful source of income. The first $200,000 of taxable income earned by an SBC is not subject to income tax. The subsequent $800,000 in taxable income is subject to a reduced tax rate as well.
An SBC may raise capital by issuing shares which is simpler compared to obtaining a bank loan. Compared to large corporations, small businesses are subject to fewer restrictions under corporate law. A SBC may be owned and run by an individual, a partnership, or a corporation.
Also Read: What is the Full Form of LOA?
Other Full Forms of SBC
There are multiple full forms of SBC. Let’s have a look at some of these:
Session Border Controller: It is a special-purpose device which allows the protection and regulation of IP communications flows.
Single-Board Computer: An entire computer with all the components needed to carry out fundamental computing operations is called a single-board computer (SBC).
Server-Based Computing: It is a remote, shared-server OS execution of Windows applications and/or desktops that can be delivered to various types of devices.
South Bangalore City: Another full form of SBC is South Bangalore City.
Also Read: What is the Full Form of BPO?
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