Legal QuickSheet
Business Entity Selection

by Kimberly A. Lowe

A comparison of C corporations, S corporations, LLCs, LLPs/LLLPs, and general partnerships/sole proprietorship in the following categories: 

• Formation Requirements
• Other Governance Documents
• Owner Limited Liability
  
• Continuity of Life
• Numbers of Owners / Types of Owners
• Governance
• Classes of Ownership Interests
• Taxation
• Tax on Formation?
• Tax Returns / Tax & Accounting Complexity
• Distributions / Dividends or Distributions
• Restricted Equity Interests for Services