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INCORPORATE YOUR BUSINESS

What's the difference between an LLC and a corporation? 
Both protect owners so they're not personally on the hook for business liabilities or debts. But, key differences include how they're owned (LLCs have one or more individual members, and corporations have shareholders) and maintained (corporations generally have more formal recordkeeping and reporting requirements).

What's the difference between a corporation and an LLC?
Both protect owners so they're not personally on the hook for business liabilities or debts. Key differences include how they're owned (LLCs have one or more individual owners and corporations have shareholders) and maintained (corporations generally have more formal recordkeeping and reporting requirements). Even though LLCs is considered easier to start and maintain, investors tend to prefer corporations.

What's the difference between a C corporation and an S corporation?
The way you're taxed and owned, and how shares work.

C corporation income is taxed twice the business pays taxes on its net income, and then the shareholders also pay taxes on the profits they receive. With S corporation income, only the shareholders pay taxes on profits received.

C corporations have no limits on how many people and who can own shares. S corporations are limited to 100 shareholders who must be U.S. Citizens or residents.

C corporation owners may get preferred stock which comes with no voting rights, but priority to dividends before common shareholders. S corporation owners can only get common stock which comes to voting rights.You can always convert to a C corporation later.

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