Legal Question in Business Law in Georgia
Corporations vs. Limited Liability Companies
What advantage does a ''S'' corporation have over a Limited Liability Company and vice versa?
Asked on 2/26/02, 4:56 pm
1 Answer from Attorneys
Eric Ballinger
Ballinger & Associates
Re: Corporations vs. Limited Liability Companies
"s" corporation is a federal taxation distinction. For the advanteages i suggest you talk to an accountant. A limmited liability company is a state law type of corporation. Its advantage is that it limits the personal liability of the shareholder/employees liability from each other. An LLC can be an "S" corp. Talk to an accountant.
Answered on 2/27/02, 9:23 am
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