​Limited liability company

• ​separates the owner’s personal and professional assets

• do not pay additional federal income taxes 

• depending on their location, they might be subject to other state taxes

• fall under the category of self-employment, so those taxes fall on them as well

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• ​a regular corporation

• ​its own entity kept separate from its owners

• ownership is issued in shares of stock

  ​Shareholders who work in the business are paid and taxed as employees, sparing them from self-employment tax

• ​double taxation: on profit and on dividends

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• ​ avoid the double taxation that hits normal C corporations

• do not pay tax on profit

• ​limited liability

• less than 100 shareholders

• ​ owners must be US citizens