Benefits of LLC’s over S-Corporations

The Limited Liability Companies (LLC’s) are now one of the most popular choices for incorporations over the sub-Chapter S Corporations.

Features of an LLC

• This type of entity is a form of business ownership that has several attributes of corporation and partnership structures.
• An LLC is neither a corporation nor a partnership.
• An LLC may be called a limited liability corporation, but the correct accepted terminology is Limited Liability Company.
• The LLC’s owners are generally referred to as members not partners or shareholders.
• The number of members of an LLC is unlimited and may be individuals, corporations, or other LLC.