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The S-corporation and the limited liability company have some similar and some different characteristics. Organize the list into advantages they share or advantages unique

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The S-corporation and the limited liability company have some similar and some different characteristics. Organize the list into advantages they share or advantages unique to each type. Shared S-Corporation Limited Liability :: Not required to have annual meetings or a board of directors :: Owners not liable for company's debts :: Shareholders do not have to be U.S. citizens :: Profit distribution based on what shareholder contributed Earnings only taxed once :: Extensive record keeping required

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