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LAW 531 Week 1 DQ 3

LAW 531 Week 1 DQ 3

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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. 

  1. how are the entities formed (created)?
  2. who are the owners of the entities?
  3. what kind of liability exposure do the owners of the entities have?
  4. how are the entities/owners taxed?
  5. how are the entities dissolved according to statute?
  6. degree of formality in operating the entities?
  7. do the entities lend themselves to managerial control?

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