LLC vs. Corporation? Ten Differences to Consider (Other Than Taxation)

When deciding the structure of a business, the process-of-elimination usually leads to deciding between an LLC and a corporation. Knowing the differences between the two helps you make a better choice when deciding what’s best for you and your business.

It’s wise to consider the tax differences between an LLC and corporation—and to also remember than many important differences have nothing to do with tax. For example, significant nontax differences could affect your ability to sell your interest, who ultimately has control of the business, the formalities you’ll need to follow because of your business form, and more. This White Paper, brought to you by CT’s compliance experts, highlights some important nontax differences between corporations and LLCs in 10 key areas.

Topics Included

  1. Control of the Business And Affairs
  2. Sales of Interests
  3. Articles of Incorporation vs. Articles of Organization
  4. Bylaws vs. Operating Agreement
  5. Meeting Requirements
  6. Rights of Shareholder’s And Member’s Judgment Creditors
  7. Elimination of Fiduciary Duties
  8. Dividends
  9. Nonprofit Entities
  10. Benefit Corporation vs. L3C

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