Business Type Comparison

S Corporation

  • Decreased risk of personal liability by shareholders
  • Required to have a registered agent
  • Must apply for an EIN (Employer Identification Number)
  • Capable of raising capital by selling company stocks
  • Business can have unlimited number of owners
  • Pass-through tax structure where owner(s) pay profit and losses on their personal income tax
  • Limited to prefessionals in the same licensed trade or field
  • Eligible for federal tax exemption status
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C Corporation

  • Decreased risk of personal liability by shareholders
  • Required to have a registered agent
  • Must apply for an EIN (Employer Identification Number)
  • Capable of raising capital by selling company stocks
  • Business can have unlimited number of owners
  • Pass-through tax structure where owner(s) pay profit and losses on their personal income tax
  • Limited to prefessionals in the same licensed trade or field
  • Eligible for federal tax exemption status
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Limited Liability (LLC)

  • Decreased risk of personal liability by shareholders
  • Required to have a registered agent
  • Must apply for an EIN (Employer Identification Number)
  • Capable of raising capital by selling company stocks
  • Business can have unlimited number of owners
  • Pass-through tax structure where owner(s) pay profit and losses on their personal income tax
  • Limited to prefessionals in the same licensed trade or field
  • Eligible for federal tax exemption status
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Nonprofit Corporation

  • Decreased risk of personal liability by shareholders
  • Required to have a registered agent
  • Must apply for an EIN (Employer Identification Number)
  • Capable of raising capital by selling company stocks
  • Business can have unlimited number of owners
  • Pass-through tax structure where owner(s) pay profit and losses on their personal income tax
  • Limited to prefessionals in the same licensed trade or field
  • Eligible for federal tax exemption status
» Learn More

Professional Corporation (PA)

  • Decreased risk of personal liability by shareholders
  • Required to have a registered agent
  • Must apply for an EIN (Employer Identification Number)
  • Capable of raising capital by selling company stocks
  • Business can have unlimited number of owners
  • Pass-through tax structure where owner(s) pay profit and losses on their personal income tax
  • Limited to prefessionals in the same licensed trade or field
  • Eligible for federal tax exemption status
» Learn More

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