Name: Bargain Business Plan, Inc.
Address: 303 Glenoaks Blvd, Studio City, CA, 91604, US
Telephone: +1 800-866-9971
Price range: 0.00

What are the different entity types?

Sole Proprietorship

Limited Liabilities Company (LLC)

These companies act as separate entities from owners.
Corporate veil protection (the owners’ investments and liabilities are separate and are not apart of the company)
Pass-through tax (which avoids double taxation).
The owners have control over how they want to be taxed as a corporation or as individuals on their personal taxes.

S Corporation

Can hold up to 75 shareholders, not over 100.
Pass-through tax. (Form 1120S), but no income tax is paid at the corporate level.
Files own tax returns.
Profit and losses are passed through to shareholders.
Besides fraud, shareholders are not responsible for liabilities.

C Corporation

Independent group with an unlimited amount of shareholders.
File a corporate tax return (Form 1120)
Pay taxes at a corporate level. They also face the possibility of double taxation (if corp. income is divided into shareholders)
Under the law, they are required to hold yearly meetings while recording meeting minutes.
Must comply with government rules and regulations when it comes to documentation.

Entity Types