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Business Formation and Filing
The LLC - or Limited Liability Company - is the newest form of business incorporation, and is often described as a combination of a corporation and a partnership.
A nonprofit corporation is a corporation whose principal purpose is public benefit. It provides a shield against potential liability for its directors, officers and employees.
A C-Corporation - often just called a generic corporation - is the oldest and one of the most common business entities. A C corporation is a completely separate tax and legal entity from its owners.
An S-Corporation is a special type of corporation that draws its designation from Subsection S of the tax code. To start an S corporation, a small business owner starts a C corporation, then files for S corporation status with the IRS.
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