LIMITED LIABILITY COMPANY (LLC)
– C Corporation
C corporation is a separate legal entity, so its owners or shareholders have no personal liability for the company’s obligations. The corporation is taxed on its income, and shareholders also must pay taxes on any dividends or income they receive.
– S Corporation
S corporation is a separate legal entity, but it differs in that while shareholders are taxed on income they receive from the company, the corporation itself is not taxed. However, a company must meet strict legal requirements to qualify as an S corporation. Both C and S corporations offer good asset protection.
– Partnership
Members report income and deductions related to the business on their individual tax returns
– Sole-Member
Disregarded as an entity separate from its owner.
CORPORATION (Inc, Corp ..)
– C Corporation
– S Corporation
PARTNERSHIP
