1/12/2023 0 Comments Legal zoom llc vs s corp![]() Separate entity from partners, but members may be held liable for non-fiscal obligations An S corporation chooses to be taxed under Subchapter S of the IRC. ![]() Yes, it is a Single Member LLC - SMLLC or partnership for multiple members by default, and S or C Corporation (by election) Single taxation (Profit or loss are passed directly to shareholders) Single taxation - Profit or loss are passed directly to members(top bracket 39.6%). Officers, board of directors of the company Only Members and managing members of the company Small businesses with less than 100 shareholders, consisting of US citizens and/or resident aliens for income tax purposes. ![]()
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