What are the tax implications of a business registered as a subchapter S corporation versus an LLC?

Video Transcript

With the sub-chapter S corporation, all income from the company passes through the shareholders. The shareholders report all items of income, deduction and credit. With an LLC, there’s a lot more flexibility. A single member LLC can be a disregarded entity for federal income tax purposes. In addition, if it’s a multi-member LLC, it can be taxed as a partnership for federal income tax purposes or can elect to be taxed as a C corporation or an S corporation, so the flexibility is much better with a limited liability company or LLC

Back to Asset Protection videos

2500 North Military Trail, Suite 460
Boca Raton, Florida   33431
Phone: 561-392-1800

Newsletter Sign-Up


Copyright © 2024 - Huth, Pratt & Milhauser   Site Map   Notices   Web Development & Web Marketing by IWD Marketing

2500 North Military Trail, Ste. 460 Boca Raton, Florida   33431 Phone: 561-392-1800 Directions