Does a small business (subchapter S) corporation give me the same protection as an LLC?
In almost every instance the protection of an LLC is superior to the protection afforded by an S corp. If you have your assets owned by an LLC, a creditor is limited only to a charging order against your interests. That means that the creditor would obtain the distribution out of the LLC, if one is made. Compare that to an S corp where the creditor can actually take the stock of the debtor. If they take the stock, they can vote the stock, and liquidate the S corp and take the assets out of the S corp.