[[ I own a small business that is a C corporation.]]

Great...

[[ The next few years it will generate about $30,000 a year in excess cash. The
money will not be needed for several years. Due to loss carryovers from
previous years, there is no income tax due.

I would like to invest the money in stocks in hopes of a higher return than money
market or mutual fund rates. ]]

Seems reasonable...

[[ As I understand the forms, in a C corporation any capital gains (either short or
long term) are treated the same as regular income with no special capital gain tax
rates. (Please correct me if I'm wrong.)]]

No correction required. Only individuals receive the preferred tax rates for long term capital gains. Corporations do not.

[[ Do you see any advantages to taking the cash out of the corporation as
additional salary or dividends and then investing the money under my personal
account?]]

That's just impossible to say without knowing your tax siatuation and the tax situation of the corporation. But if this cash will not be needed for corporate purposes in the future, many people would tell you to simply take it out of the corporation (via salary) and invest the funds individually. If you believe that you'll require those funds in the corporation in the future, and you are not willing to make a personal loan to the corporation (or can get your hands on any other funds), you might want to rethink this position.

But, generally speaking, a C corporation is not the place to retain "excess" funds.

TMF Taxes
Roy