Choosing the right legal structure is crucial when setting up a business. LLCs and S Corps are popular business entity options that provide liability protection but differ in taxation.
In this article, we’ll explain the differences between LLC vs. S Corp in tax terms to help you decide which structure is best for your business. Let’s get started!
What is a Limited Liability Company
Have you ever wondered, “What is an LLC?” A Limited Liability Company (LLC) is a business structure that provides limited liability protection to its owners while offering a partnership’s flexibility. There are multiple types of small business LLC structures, but they provide the same main benefits.