LLCWEB - Business Organizational Structure Comparison Chart

Business Organizational Structure Comparison Chart

CHARACTERISTIC	Sole Prop	General Part.	Limited Part.	C Corp	S.Corp	LLC
Limited Liability for ALL owners	No	Yes	Yes	No	No	Yes
Owners can participate in management w/o losing liability protection	n/a	Yes	Yes	No	No	Yes
Easy to form and w/o maintain extensive record keeping	Yes	No	No	Yes	No	Yes
Number of owners	1 or more	1 or more	1-35	2 or more	1-35	2 or more
Restrictions on ownership	No	No	Yes	No	Yes	No
Double tax	No	Yes	No	No	No	No
Able to deduct business loss on individual return	Yes	No	Yes	Yes	Yes	Yes
Basis for loss includes owner's share of company debt	n/a	n/a	No	Yes	Yes	Yes
Can increase basis by "step-up" election"	n/a	n/a	No	Yes	Yes	Yes
Can specially allocate items of income and expense	n/a	No	No	Yes	Yes	Yes
Contribute and distribute appreciated property tax free	n/a	No	No	No	Yes	Yes

	LLC Basics	Excerpts from the Kit	Order	FAQ
	Do You Need An Attorney?	Entity Comparisons	State Comparisons	Glossary