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Are there any tax advantages to going with a C Corp structure vs LLC?
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3 Answers
What is the profile of the ownership group going to be?
Knowing this would help with choice of entity.
Here is an excellent ariticle from the Journal of Accountancy on the subject:
http://www.journalofaccountancy.com/Issues/2007/Mar/TheChoiceOfEntityMaze.htm
And a link to a summary decision matrix:
http://www.aristalaw.com/images/Choice_of_Entity_Matrix_2008_91108.pdf
Good luck and hope this helps!
Best, Steve Elliott, CPA, MST, MPFP
Senior Tax Manager
Janover, LLC
Garden City, NY 11530
One major difference: LLC has a far higher incidence of being audited. Use this information after you've done your research like reading the link already provided. Here it is again:
http://www.journalofaccountancy.com/Issues/2007/Mar/TheChoiceOfEntityMaze.htm
Here's a link to a nice table showing you some of the highlights and differences.
http://www.themoneyalert.com/Corp-Entity-Table.html
If you'd like the optinions of several tax professionals you're welcome to post your question over on TaxQueries.com
-Andrew
info@taxqueries.com
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