LLCs provide personal asset protection, which shields you from being personally liable for business debts.

C Corps provide personal asset protection, which shields you from being personally liable for business debts.

S Corps provide personal asset protection, which shields you from being personally liable for business debts.

Nonprofits provide personal asset protection, which shields you from being personally liable for business debts.

LLCs are required to pay formation fees to the state. Fees will vary based on the state of incorporation.

C Corps are required to pay formation fees to the state. Fees will vary based on the state of incorporation.

S Corps are required to pay formation fees to the state. Fees will vary based on the state of incorporation.

Nonprofits are required to pay formation fees to the state. Fees will vary based on the state of incorporation.

Depending on the state of incorporation, reports and fees may be required.

An annual report and franchise fees are generally due each year along with other reports and fees, which varies depending on the state of incorporation.

An annual report and franchise fees are generally due each year along with other reports and fees, which varies depending on the state of incorporation.

For Nonprofits this varies from state to state.

LLCs must be member or manager managed according to the terms of the operating agreement.

C Corps are required to have shareholder elected directors who oversee and elect officers to run the day-to-day operations of the company.

S Corps are required to have shareholder elected directors who oversee and elect officers to run the day-to-day operations of the company.

Nonprofits are managed by their board of directors following the regulations set forth in their Bylaws.

Changes in ownership of an LLC are dependent on the terms of the operating agreement.

Ownership changes in a C Corp are easily made through the sell of stock to new or existing shareholders.

Ownership changes in an S Corp are easily made through the sell of stock to new or existing shareholders.

Nonprofits have no owners.

Depending on the state of incorporation, an LLC may be required to file an annual report and/or pay franchise fees.

After formation, C Corps have many ongoing formalities such as writing bylaws, selecting directors, holding initial and annual shareholder meetings, and issuing stock.

After formation, S Corps have many ongoing formalities such as writing bylaws, selecting directors, holding initial and annual shareholder meetings, and issuing stock.

After formation, Nonprofits have many ongoing formalities such as writing bylaws, selecting directors, and seeking tax exempt status.

LLCs are not allowed to sell stock but may be able to raise capital via bank loans and various other avenues.

C Corps may issue many types of stocks, which may be sold to an unlimited number of shareholders.

S Corps may issue one type of stock, which may be sold to a maximum of 100 shareholders.

Nonprofits may obtain bank loans, grants, venture capital, and tax-exempt donations. In some states, Nonprofits may sell stock.

LLCs are not taxed at the corporate level. Instead, all profit and losses are reported with the personal income taxes of each member.

The income of the C Corp is taxed at the corporate level and then again at the shareholder level.

S Corps are not taxed at the corporate level. Instead, all profit and losses are reported with the personal income taxes of each shareholder (owner).

The income of Nonprofits is taxed at the corporate level unless they apply for and are granted tax-exempt status.

LLCs are not taxed at the corporate level.

The income of the C Corp is taxed at the corporate level and then again at the shareholder level.

S Corps are not taxed at the corporate level.

The income of Nonprofits is taxed at the corporate level unless they apply for and are granted tax-exempt status.

LLCs are not eligible for tax-exempt status.

C Corps are not eligible for tax-exempt status.

S Corps are not eligible for tax-exempt status.

The income of Nonprofits is taxed at the corporate level unless they apply for and are granted tax-exempt status.