Legal Question in Business Law in Virginia

what is the differnce between an LLC and S Corporation

I want to open a spa salon with someone who already owns another spa. But, I want to protect my personal assets (home,wages, bank accounts)I'm I better off with an LLC or an S corporation. So, he other busniess does not affect this business.

Can you explain both of them to me.And tell me the difference. Or is there something better I can do?


Asked on 3/16/07, 10:43 am

1 Answer from Attorneys
Ruth Emily Kochard Ruth Emily Kochard, Counselor at Law

Re: what is the differnce between an LLC and S Corporation

While LLC and S corporations are similar, there are certain advantages to an LLC for many small business owners (e.g. ease of formation and organization rules). I would be glad to discuss this in greater depth upon further request.

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Answered on 3/16/07, 1:34 pm


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