Arguably, limited liability companies (LLCs) are the most modern and efficient business structures for all but...

Arguably, limited liability companies (LLCs) are the most modern and efficient business structures for all but the most complex and far-reaching ventures. This is due in no small part to the flexibility of this method of doing business. It can be structured in any manner that best fits the needs of the entrepreneurs. Please compare and contrast LLCs with corporations, highlighting the benefits/negatives of each for the small to moderate-sized business. Also, include consideration of subchapter S corporations in your analysis.

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Components	Limited Liability Corp	S corp
Formation	It contains the characterstics of partnership and corporations but is complex to form than partnership	It is difficult to form compared with sole proprietor, partnership
Liability	Limited in hands of owners	Limited in hands of owners
Governing body	No governing body exists results in difficulty to solve the issues	Governed by corporations Act.
Decisions making	Decisions are taken by partners	Decisions are taken by owners and management. there may be conflict between 2 decisions.

ekkarill92 answered 1 year ago

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