AMERICAN LIMITED LIABILITY MODELS c-corporation: taxes paid directly by the busi

AMERICAN LIMITED LIABILITY MODELS

c-corporation: taxes paid directly by the business entity, and shares and authority democratically allocated, and transfer of ownership contractually limited. (Required for public stock offerings.

s-corporation: taxes paid by the shareholders and shares and authority democratically allocated, and transfer of ownership contractually limited.

llc: taxes paid by the shareholders and shares and authority contractually allocated, and transfer of ownership contractually limited. Ownership by corporations or individuals. (most simple business structure)

llp – Limited liability partnership: taxes paid by partners, and authority contractually allocated. Must have at least one managing partner with liability for actions, and all owners must be human, not corporations. (for small professional groups that have junior members, or external investors)

Partnership – two or more people, no limited liability. Ownership non-transferrable. (stupid)

Sole proprietorship – no limited liability. (Stupid)