whats the difference between a llc , s corp and c corp
What is the difference between an LLC, a C corporation, and an S corporation? A C corporation is the standard corporation structure. 1  An S corporation is a corporation that has elected special tax status. Both of these corporate entity statuses share the following: 2  They have shareholders, directors and officers. What is the difference between an LLC, a C corporation, and an S corporation? S corporations are less flexible than C corporations for employee fringe benefits. S corporations must report employee taxable compensation. Limited Liability Companies - LLC. A limited liability company (LLC) blends elements of partnerships and corporate structures. An LLC is an unincorporated association that protects the liability of a company.