Corp., Inc., Corporation, Incorporated: used to denote corporations (public or otherwise). These are the only terms universally accepted by all 51 corporation chartering jurisdictions in the United States. However, in some states other suffixes may be used to identify a corporation, such as Ltd., Co./Company, or the Italian term S.p.A. (in Connecticut; see under Italy). Some states that allow the use of "Company" prohibit the use of "and Company", "and Co.", "& Company" or "& Co.". In most states sole proprietorships and partnerships may register a fictitious "doing business as" name with the word "Company" in it. For a full list of allowed designations by state, see the table below.
Means a company having the liability of its members limited by memorandum to such amounts as the members may respectively undertake to contribute to the capital of the company in the event of its winding up. A company limited by guarantee is usually formed on a 'non profit basis'. Companies limited by guarantee use the words (Guarantee) Limited" as the last words of their n Unlimited Company
Unlimited company (or Welsh (cwmni) anghyfyngedig). There is no limit on the liability of its members. It is not a requirement under company law to add or state the word or designation Unlimited or its abbreviations (Unltd., or Ultd.) at the ending of its legal company name, and most such companies do not do so. Unlimited companies are exempted from filing accounts with the Registrar of Companies for public disclosure, subject to a few exceptions (unless the company was a qualified subsidiary or a parent of a limited company during the accounting period).
A grocery store goes out of business prior to January 1st but equipment such as freezer boxes and store shelving remains in the building on that date. In this case, such items would still be taxable and must be reported even though the business was closed on the Lien Date. That is because in this case, the equipment could not revert to or be used as "Household Furnishings or Personal Effects".