Determining Your
Business Structure:
__
__ S Corp ?
LLC or
T
he business structure you choose
will have legal and tax implications so it’s important to research
which is best for you and your long-term
goals. In this article, we will compare a
Limited Liability Company (LLC) to an S
corporation.
LLC
2015 Issue 1
2 | GearedUp
An LLC is a hybrid type of legal
structure that provides the limited liability
features of a corporation and the tax
efficiencies and operational flexibility of a
partnership.
The“owners”of an LLC are referred
to as “members.”Depending on the state,
the members can consist of a single
individual (one owner), two or more
individuals, corporations or other LLCs.
Unlike shareholders in a corporation,
LLCs are not taxed as a separate business
entity. Instead, all profits and losses are