There are many benefits of becoming a corporation over an LLC. Mainly, with the form of a corporation, it would be individually advantageous to become a shareholder of a company because of the ability to split the business income which allows for the overall tax liability to be lowered. This would be favorable because of the $10 million dollar revenue. However, because of the mid-size of the company, it would not be as favorable to turn it into a corporation, however, with its revenue of $10 million, it will surely grow and eventually, a corporation status would be favorable. Furthermore, corporations can sell shares for the company to attract more investors when expansion is required and also, the presence of the members does not affect the existence of the company. Similar to an LLC, a corporation can also have limited liability. Lastly, there is a variation between the legislation that exists that deals with LLCs and this in turn will cause more paperwork with the transferring and expansion.