| |
C-Corporations |
S-Corporations |
Limited Liability
Companies |
|
Liability
|
Shareholders are
protected from corporate liabilities
|
Shareholders are
protected from corporate liabilities
|
Members are protected
from the LLC's liabilities
|
|
Duration of Existence
|
Perpetual
|
Perpetual
|
Perpetual
|
|
Taxation
|
Taxed at the entity
level
|
No tax at the entity
level
|
No tax
at the entity level |
|
Double Taxation
|
Yes
|
No
|
No
|
Transferability of Interest
|
Yes
|
Yes
|
Possibly, depending on the operating
agreement
|
|
Pass Through Income/Loss
|
No
|
Yes
|
Yes
|
The following chart
outlines differences between Corporations and Limited
Liability Companies.