Difference Between Corporation & Llc

[thomas_smith]

There are many important differences between the corporation and LLC. The entities are taxed differently. An LLC is a pass-through tax entity. This means that the income to the entity is not taxed at the entity level; however, the entity does complete a tax return. The income or loss as shown on this return is "passed through" the business entity to the individual shareholders or interest holders, and is reported on their individual tax returns.

[speedracer]

thanks for this post sir i really appreciate this one.. I really had a hard time learning the difference..

[nickelodon007]

A Corporation is a divide entity that has its own rights and tasks. In appearance a corporation, potential shareholders offer money as well as possessions in exchange for stock.
A Limited Liability Company (LLC) is produced and regulated under state laws. An LLC is permitted to acquire the limited liability quality of a corporation, but is treated as a partnership for federal tax purposes.