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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

Explain the difference between an S corporation and a limited-liability company.

Summary Introduction

To determine: The difference between S corporation and a limited liability company.

Introduction: A limited liability company (LLC) is a business association that has a few advantages of an enterprise or corporation and a portion of a constrained organization. A LLC is a entity form that gives proprietors the advantages of owning an enterprise while keeping up the benefits of a limited partnership.

Explanation

An S corporation is one of the forms of business entity that the Internal Revenue Service perceives as a real type of a business, and it can differ in measure from several proprietors to upwards of 100 proprietors or investors.

The difference between S corporation and a limited liability company are as follows:

  • Despite the fact that both a S organization and a limited liability corporation can give the advantages of maintaining a strategic distance from double taxation and holding the security of limited liability, a limited liability company confined to 100 investors just like a S corporation...

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