COMPARISON CHART OF TYPES OF BUSINESS ENTITIES
(Click on Entity name for descriptions)
.

 

Protects Personal Assets?

Formalities or Meeting Required?

 Special Record Keeping Required?

Special Tax Advantages?

Double Taxed by IRS?
Sole no no no no no
Partnership no no no few no
Limited Partnership few*
no**		 few few few few
Limited Liability Company yes few few few no
"S" Corp yes some some some no
"C" Corp yes some some some yes

*   Limited Partnership
** General Partnership

 

Close Window

Arizona Contractor Center
Copyright © 2001. All rights reserved.