Forming an S-corporation and Its Advantages
An S corporation is a special type of corporation created through an IRS tax election. An eligible domestic corporation can avoid double taxation by electing to be treated as an S corporation. An S corp is a corporation with the Subchapter S designation from the IRS. To be considered an S corp, you must first […]
Why form a Limited Liability Company [LLC]?
Limited Liability Company A limited liability company is a hybrid type of legal structure that provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership. The “owners” of an LLC are referred to as “members.” Depending on the state, the members can consist of a single individual, […]