Choosing the Right Entity

What is an LLC?

A Limited Liability Company (LLC) blends the aspects of corporations, partnerships and sole proprietorships into a simple and flexible business entity. LLCs offer the same personal liability protection as corporations with few corporate formalities. LLC entities can be used to hold property and transact any type of business. They protect the owners and operators from personal liability similar to a corporation, and they possess the "pass-through" tax benefits of a partnership. Additionally, LLCs do not require the typical formalities that are required when managing a corporation.

What is a Corporation?

A corporation is a legal entity created separately from those who own and operate it. As a separate entity, the corporation's debts and taxes are separate from its owners (shareholders), thereby offering the greatest personal liability protection of all business structure. Corporations also offer tax savings and the ability to raise capital under your business name.