Reply : infotaxsquare.com S corporation's special tax status eliminates double taxation, it lacks
the flexibility of an LLC in allocating income to the owners. An LLC may offer
several classes of membership interests while an ‘S’ corporation may only have
one class of stock. An LLC is a pass-through tax entity. This means that the
income to the entity is not taxed at the entity level. Whereas Corporations are
treated as a separate legal taxable entity for income tax purposes. Therefore,
corporations pay tax on their earnings
You may also read our article on this page for difference between Corporation and LLC.