Business Comparison Chart

Before you begin the incorporation process, you will need to choose a business structure. Mr. Raines and Thomas E. Raines, PC can help you form a new corporation or Limited Liability Company (LLC). There are numerous options when it comes to deciding whether to incorporate, form and LLC or a partnership or act as a sole proprietor; take your time and let Thomas E. Raines, PC’s Business Comparison Chart help you through the process. Please review our chart below for the advantages of forming a C Corporation, Subchapter S Corporation, or LLC.

C Corp
S Corp
LLC
General Partnership
Sole Proprietor
Owners have limited liability for business debts and obligations
Created by a state-level registration that usually protects the company name
Business duration can be perpetual
May have an unlimited number of owners
Owners need not be U.S. citizens or residents
May be owned by another business, rather than individuals
May issue shares of stock to attract investors
Owners can report business profit and loss on their personal tax returns
Owners can split profit and loss with the business for a lower overall tax rate
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Permitted to distribute special allocations, under certain guidelines
Not required to hold annual meetings or record meeting minutes
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