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An LLC offers a more formal business structure than a sole proprietorship or partnership. While LLCs and S corporations are two terms often discussed side by side, they refer to different...
LLC and S-corp: Basic Definitions. An LLC is a legal business structure while S corporation is a tax classification that’s available to some small businesses.
Limited liability companies (LLCs) and Subchapter S corporations (S corp) are often discussed together, but this is misleading. The difference between an LLC and an S corp is that an LLC is a business entity while an S corp is a tax classification.
Whether you’re just starting a business or thinking of changing your business structure, a common first step is comparing the LLC vs. the S corporation. While a limited liability company and an S corporation share some characteristics, they also have distinct differences.
Key differences, pros and cons, and how they are taxed. A guide to help decide which type is right for you, and steps on how to start a corporation or LLC.
An S corp – which stands for “Subchapter S Corporation” in the Internal Revenue Code – isn't a separate business entity type. Instead, it’s a special tax election which you can select as either an LLC or a C corporation.
What is the difference between an S corp and an LLC? While both S corporations and LLCs provide limited liability protection to their owners and offer flexibility in taxation and management structure, there are key differences between the two.
Suitable business structures to consider are an S corporation and limited liability company (LLC). This S-corp vs. LLC guide compares the differences and similarities between the types of business structures and their pros and cons.
S corp vs. LLC: Which is right for you? Your specific business, financial, and lifestyle goals can help determine whether an S corp or an LLC is the right choice for you. Here are some key factors to consider.
S corporation vs. LLC: An overview. When choosing between an S corporation and LLC, there’s no one “best” choice for all small business owners. Both entity types offer personal liability protection to their owners, meaning personal assets are protected in the case of bad debt or legal action.