A Comparison of LLCs and Corporations for Small Businesses

💡 For small businesses, an LLC is generally the most suitable option. Corporations, however, are better for businesses that have investors since this type of ownership provides them with some control over the business without having to manage it on a daily basis. A board of directors can also be utilized in this case. Unless there are very specific reasons for filing a corporation, it is usually better to file an LLC, as it is much less costly and time-consuming.

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