LLC(Limited liability company) or S-Corp

Limited liability company is a hybrid business format that has advantages from corporations and partnerships. Start-up cost is not little, for example, $800 Franchise tax board for California and $79 for filing, but many small business owners choose to pay this because of its benefits: Limited liability - An LLC owner or LLC members are not personally liable for the LLC's debts unless they have signed a personal guarantee. Taxation flexibility - An limited liability company can choose to be taxed as a sole proprietor, S corporation, C corporation or partnership ("check-the-box taxation"). Tax benefits (no double taxation) - Unlike corporations, an LLC ...