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Limited Liability Company

The LLC – or Limited Liability Company – is the newest form of business incorporation, and is often described as a combination of a corporation and a partnership.

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An S corporation is a special type of corporation that draws its designation from Subsection S of the tax code. To start an S corporation, a small business owner starts a C corporation, then files a Form 2553.

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A C corporation – often just called a generic corporation – is the oldest and one of the most common business entities. A C corporation is a completely separate tax and legal entity from its owners.

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Nonprofit Corporation

A nonprofit corporation is a corporation whose principal purpose is public benefit. It provides a shield against potential liability for its directors, officers and employees.

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