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Corporation & Limited Liability Comparison Chart

The following chart outlines differences between Corporations and Limited Liability Companies.


 
  C-Corporations S-Corporations Limited Liability Companies

Liability

Shareholders are protected from corporate liabilities

Shareholders are protected from corporate liabilities

Members are protected from the LLC's liabilities

Duration of Existence

Perpetual

Perpetual

Perpetual

Taxation

Taxed at the entity level

No tax at the entity level

No tax at the entity level

Double Taxation

Yes

No

No

Transferability of Interest

Yes

Yes

Possibly, depending on the operating agreement

Pass Through Income/Loss

No

Yes

Yes




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