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Limited Liability Company

An LLC combines the personal liability protections of a corporation with the tax flexibility of a partnership. The LLC offers many advantages, including:

  • Pass-through taxation
  • No residency requirement
  • Enhanced credibility
  • Legal protection
  • Less paperwork than a corporation

C Corporation

The C corporation is the most common type of corporation in the U.S. and has a number of advantages:

  • Owners’ personal assets are separate from the company’s liabilities
  • Unlimited growth potential through the sale of common stock
  • Certain tax advantages, including reduced likelihood of an IRS audit, when compared to a sole proprietorship

S Corporation

By meeting certain requirements when incorporating a small business or start up, you can elect to claim a S corporation status with the IRS. An S corporation status allows your company to “pass through” its taxable income or losses to the business owners and investors, eliminating “double taxation” on shareholder dividends and corporate income.

S corporation status also offers limited liability, investment opportunities, continuous existence and a once-a-year tax-filing requirement.

 

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