Corporation or LLC?

For most small business owners, there are three entity structures to consider-(1) the S-Corporation; (2) the Limited Liability Company; or (3) the Series LLC. There are other options, such as the Limited Partnership, the C-Corporation or the Limited Liability Partnership, to name a few. However, almost all of our small business and real estate clients utilize an LLC, an LLC taxed as an S-corporation or a Series LLC.


The LLC & Series LLC

The LLC and Series LLC provide asset protection, ease of maintenance and flexibility. In fact, the LLC provides “Charging Order” protection for multi-owner LLC’s, while that protection is unavailable to shareholders of a corporation. For real estate investors, especially landlords, the LLC and Series LLC provide additional tax advantages over corporations. The LLC can also be used for joint ventures. For these several reasons, most small business owners should consider forming and utilizing an LLC.

The LLC Taxed As an S-Corporation

The LLC’s flexibility includes options in how the LLC will be taxed. An LLC can be taxed as a sole proprietor (the single-member disregarded entity), a partnership or even an S-corporation. Given the asset protection features, ease of maintenance and flexibility of the LLC, it is often advantageous to form an LLC to be taxed as an S-corporation, rather than forming a corporation to be taxed as an S-corporation.

Still Prefer a Corporation Over an LLC?

Browse Individual Business Formation Documents

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  • Purchase Agreement
  • Land Contract

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