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Dragvon J   wrote on : Tue May 04th,2010   Back to Article

Need help becoming an LLC or to incorporate.

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.


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