Corporation2021-09-28T09:13:33-04:00

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The Difference Between a C-Corporation and S-Corporation

DETERMINE WHICH ENTITY TYPE BEST FITS YOUR BUSINESS WHEN INCORPORATING

C-Corporation

Taxed On Business and Personal Level

C-Corps are taxed as a business then shareholders are taxed on any profit they receive through dividends.

Option To Go Public and Issue Shares

C-Corps have the most freedom in terms of issuing shares to investors and in choosing to be publicly traded.

S-Corporation

Allows Pass-Through Taxation

S-Corps have a tax designation that allows all taxes to be passed through to the shareholders.

Ownership and Stock Restrictions

S-Corps can’t be publicly traded. They are also are limited in the type of stock they can issue and who can own an S-Corp.

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Step 1: Answer a few questions about the business

Step 2: We file and form your business

Step 3: Your LLC is ready to operate!

Types of Business Entities

FIND THE ENTITY THAT IS RIGHT FOR YOU

Business Type

Features

Protections & Taxes

Negatives

LLC

Allows the most flexibility in terms of management and structure

Can have unlimited members

Can be owned by another LLC, corporation, or any other legal entity

Protects personal assets and liability from lawsuits

Offers pass through taxation for business owners

Requires separate tax filings

Will require regular fees and forms to maintain

Can’t go public

Not recognized internationally

S-Corp

Allows for issue of shares

Shareholders must be US residents

Owners only get common stock

Protects personal assets and liability from lawsuits

Offers pass through taxation for business owners

Requires separate tax filings

Will require regular fees and forms to maintain

Requires a firm structure, with a board of directors

Must keep records and hold annual meetings

C-Corp

Allows for issue of shares

Owners can get preferred stock

Best option to eventually go public

Protects personal assets and liability from lawsuits

Taxed at the corporate level and at the personal level

Requires separate tax filings

Will require regular fees and forms to maintain

Requires a firm structure, with a board of directors

Must keep records and hold annual meetings

Sole Proprietorship

Doesn’t require any setup or fees

Can only have one owner

May still require licenses or forms, depending on state regulations

There is no personal liability protection

Only taxed on a personal level

Can complete taxes without a separate filing

No limited liability protection

No company structure or organizing documents

Limited business rights

Features

Allows the most flexibility in terms of management and structure

Can have unlimited members

Can be owned by another LLC, corporation, or any other legal entity

Protections & Taxes

Protects personal assets and liability from lawsuits

Offers pass through taxation for business owners

Requires separate tax filings

Negatives

Will require regular fees and forms to maintain

Can’t go public

Not recognized internationally

Features

Allows for issue of shares

Shareholders must be US residents

Owners only get common stock

Protections & Taxes

Protects personal assets and liability from lawsuits

Offers pass through taxation for business owners

Requires separate tax filings

Negatives

Will require regular fees and forms to maintain

Requires a firm structure, with a board of directors

Must keep records and hold annual meetings

Features

Allows for issue of shares

Owners can get preferred stock

Best option to eventually go public

Protections & Taxes

Protects personal assets and liability from lawsuits

Taxed at the corporate level and at the personal level

Requires separate tax filings

Negatives

Will require regular fees and forms to maintain

Requires a firm structure, with a board of directors

Must keep records and hold annual meetings

Features

Doesn’t require any setup or fees

Can only have one owner

May still require licenses or forms, depending on state regulations

Protections & Taxes

There is no personal liability protection

Only taxed on a personal level

Can complete taxes without a separate filing

Negatives

No limited liability protection

No company structure or organizing documents

Limited business rights

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Frequently Asked Questions

If you have more questions regarding corporations, reads through these FAQs. To speak to an attorney about any further questions or to get started on incorporating, fill in your information and we will contact you as soon as we can.

What is a corporation?2021-05-13T17:08:55-04:00

A Corporation is a business entity, like an LLC, but with a different structure and growth options for larger companies. Standard Corporations are also known as C-Corporations, and are taxed on the business level as well as on the personal level. The preferred entity for investors, Corporations can issue shares and have the option to be publicly traded.

What is an S-Corporation?2021-05-13T17:10:27-04:00

An S-Corporation is a Corporation that opts for an S-Election, meaning that the business will not be taxed and profits will be passed through to the shareholders. S-Corporations operate like a C-Corporation but can’t be owned by other Corporations, LLCs, or trusts. Another important note is that S-Corporations also has restricti