Fatekh Vergasov
Limited liability
"corporation", "incorporated" or "limited" or an abbreviation of one of such words is required for statutory close corporations
May not contain "bank," " trust," "trustee" or "credit union" unless approved by the Commissioner of Financial Institutions
 
Corporation S Corporation C Corporation Blocker Corporation LLC Series LLC LLP
           
Liability protection Yes Yes

Yes

 Yes Yes Yes
Operational Control
 Board of Directors/Officers Board of Directors  
May be member-managed or manager-managed 
    
Federal Income Tax Pass-through  Double taxation

UBTI

 Pass-through     
Flexibility/Ease of Operation
No
subject to some formalities and record keeping rules as traditional C corporations
 No

Bylaws

   Yes      
Ownership Restrictions Yes     No    
Flexibility in Profit-Sharing No     Yes    
Employment Tax

Employment/payroll tax on salary;

No employment tax on dividends paid to shareholders 

    

Self-employment tax on total net income 

    
 
Incorporate
Incorporate
Business
 
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