Legal Question in Bankruptcy in Utah

I haven a small business and was wondering which offers better protection in case of Bankrupcy or law suits an llc or a S corp?


Asked on 7/01/10, 1:59 am

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Both provide good protection for the owners. A LLC is easier to maintain and to retain current status. A S Corp has corporate formal requirements that must be met, and if not met, can destroy all of the protection offered by the C Corp. A LLC only requires that a single simple form be filed each year.

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Answered on 7/01/10, 9:02 am


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