LAW 531 Week 1 DQ 3
1. Please discuss the key differences between limited liability company (LLC) and a subchapter S corporation
2. Please discuss the key differences between a subchapter S corporation and a general corporation (C or G) corporation?
Use the following questions to guide you in your discussion.
- how are the entities formed (created)?
- who are the owners of the entities?
- what kind of liability exposure do the owners of the entities have?
- how are the entities/owners taxed?
- how are the entities dissolved according to statute?
- degree of formality in operating the entities?
- do the entities lend themselves to managerial control?