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  • Profile picture of ao242

    ao242 replied to the topic Types of Corporations in the forum Business 101 7 years, 5 months ago

    If I were to have ownership of a corporation, I would choose Corporation (S Corp. or C Corp.)
    Pros
    1. Personal asset protection.
    2.There is limited liability for business debts and obligations
    3. Tax flexibility on personal income.

    Cons
    1. Financial disclosure to the public.
    2. Involves a lot of paperworks
    3. Double Taxation if C-Corporation.