‘Differences’ Archive
What is the basic difference between an S corporation and a limited liability company?
S corporations and LLC’s are similar in both the way they provide liability protection to the owners and in the way they report taxes. Both provide limited liability protection to the business owners. It has been suggested that the liability treatment of S corporations (which are treated just like regular C corporations for liability purposes) » Continue…
What is the basic difference between a C corporation and an S corporation?
The difference between a regular C corporation and an S corporation is in the way taxes are reported and paid. Both types of corporations are initially formed as a regular C corporation. Both are subject to the same state corporation laws with respect to their organization, operation and the liability of shareholders (S corporations provide » Continue…
In what form or entity do most small business owners choose to operate?
Some new or start-up businesses operate as sole proprietorships due to the ease and low cost of starting up. However, if the business owner desires to operate in one of the legal forms or entities, the most common and practical choices include the partnership, regular or C corporation, S corporation or limited liability company (LLC). » Continue…
