Video Question Go to this text’s Web site at www.cengage.com/blaw/blt and select “Chapter 29.”

Click on “Video Questions” and view the video titled Corporation or LLC: Which Is Better? Then answer the following questions.

1 Compare the liability that Anna and Caleb would be exposed to as shareholders/owners of a corporation versus as members of a limited liability company (LLC).

2 How does the taxation of corporations different from that of LLCs?

3 Given that Anna and Caleb conduct their business (Wizard Internet) over the Internet, can you think of any drawbacks to forming an LLC?

4 If you were in the position of Anna and Caleb, would you choose to create a corporation or an LLC? Why?