Corporation Vs LLC (2 of 2)

Corporation vs LLC - The difference between a corporation and a limited liability company (LLC). When to use one or the other and the benefits of each. When to use an S Corporation or a C corporation. How the corporation and LLC are taxed and how they provide lawsuit and asset protection.

Category:

Education

Tags:

• Corporation Vs LLC
• LLC Vs Corporation
• Corp Vs LLC
• LLC vs S Corporation

[kingtones79]

I am looking to start a small 15 passenger van transportation company. Should i go the route of making it a LLC or a corporation?

[1800company]

Though this is not to be considered legal advice I can give you my opinion. I would set up an LLC because of its superior asset protection benefits. Moreover, an LLC has greater tax flexibility. It can be taxes as a sole proprietorship, partnership, C corporation or S corporation. A corporation is generally only an S or a C. Plus an LLC generally doesn't have the requirements for annual meetings. This is my opinion. Get advice from an attorney and accountant before taking action.

[mmcgowan10]

Wow great information on corporation vs LLC.

[dingerboy22]

Finally a good video on corp vs LLC.

[brazilindy]

Thank you for sharing this.

[novaphoenix70]

This was very informative and free of dense legalese. Thanks!

[TANISHAADJO]

i sure have learned from this video

[drfullmoon]

well explained and very clear answers.. Thanks

[vvgiri007]

what is PLC?

[SimX9000]

thanks

[Alucardthedeadone]

In a way I like the Australian Corporation system the most, yet I think 30% is a little high.

[Scartissue84]

Thank you great vid.