|
|
C
Corporation |
Subchapter S
Corporation
|
Limited
Liability
Company |
General
Partnership |
Sole
Proprietor |
|
Owners have
limited
liability
for business
debts and
obligations
|
X |
X |
X |
|
|
|
Created by a
state-level
registration
that usually
protects the
company name
|
X |
X |
X |
|
|
|
Business
duration can
be perpetual |
X |
X |
X |
|
|
|
May have an
unlimited
number of
owners
|
X |
|
X |
X |
|
|
Owners need
not be U.S.
citizens or
residents |
X |
|
X |
X |
X |
|
May be owned
by another
business,
rather than
individuals |
X |
|
X |
|
|
|
May issue
shares of
stock to
attract
investors
|
X |
X |
|
|
|
|
Owners can
report
business
profit and
loss on
their
personal tax
returns
|
|
X |
X |
X |
X |
|
Owners can
split profit
and loss
with the
business for
a lower
overall tax
rate
|
X |
|
|
|
|
|
Permitted to
distribute
special
allocations,
under
certain
guidelines
|
|
|
X |
X |
|
|
Not required
to hold
annual
meetings or
record
meeting
minutes
|
|
|
X |
X |
