LLC protects you from the personal risks involved if a lawsuit were to arise concerning your business — safeguarding your personal assets. LLC gives flexibility in management and taxes are not paid at the business level.
Many business owners consider taxation to be the most noteworthy difference between S corporations and C corporations. C corps are taxed as separate entities. They are also subject to “double taxation” but an S corp is a “pass-through” tax entity, like the LLC.
So, for a medical device company of mid-size with 50 people and $10 million in revenue, if it LLC,this company Cannot issue stock,Cannot engage in corporate income splitting to lower tax liability.
But as an INC,may issue shares of stock to attract investors, and Corporate income splitting may help lower overall tax liability, but C corp tax structure requires double taxation of corporate profits (s corp’s does not).Also, for businesses that eventually seek to issue stock, the corporation can easily issue shares while an LLC cannot issue shares.
https://www.incorporate.com/comparing_corporations_llcs.html