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Help me compare LLC and Corporation |
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LLC
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S Corporation
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C Corporation
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Ownership
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Has members, no Limit
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Only 1 class of stock; limited to 100 shareholders
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No Limitation
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Personal Liability Protection
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Yes
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Yes
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Yes
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Income Tax
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Taxed depending on the type selected (pass through shareholder if S Election)
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Profit and Loss is passed through to Shareholder
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Shareholders taxed on dividends; Corporation taxed as a separate Entity.
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Start up Documents Needed
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Articles of Organization,
Operating Agreement
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Articles of Incorporation, Stock Certificates, Ledger, Bylaws and Resolutions
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Articles of Incorporation, Stock Certificates, Ledger, Bylaws and Resolutions
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Cost and Administration
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$145 + filing fee
Simple
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$245 + filing fee
Updated corporate books and keeping minutes required
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$245 + filing fee
Updated corporate books and keeping minutes required
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Form a company now
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