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Compared to C corporations, an advantage of an LLC is that C corporations must file paperwork with the state when they are formed, while no
Compared to corporations, an advantage of an LLC is that C corporations must file paperwork with the state when they are formed, while no paperwork needs to be filed to form an LLC C corporations are limited to no more than owners, while LLCs can have an unlimited number of owners. aftertax earnings of corporations that are distributed to owners are subject to double taxation, burt the earnings of LLCs pass through the company and are taxed only as personal income. LLCs are classified as domestic firms in all of the states where they operate, while corporations are classified as "foreign" business entities in states other than the one in which they are incorporated.
Compared to corporations, an advantage of an LLC is that
C corporations must file paperwork with the state when they are formed, while no paperwork needs to be filed to form an LLC
C corporations are limited to no more than owners, while LLCs can have an unlimited number of owners.
aftertax earnings of corporations that are distributed to owners are subject to double taxation, burt the earnings of LLCs pass through the company and are taxed only as personal income.
LLCs are classified as domestic firms in all of the states where they operate, while corporations are classified as "foreign" business entities in states other than the one in which they are incorporated.
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