If given the choice to open my own business, I would file my business as Limited Liability Company (LLC) over a Corporation. There are many reasons in terms of Taxes, Business Ownership, and Business Operation. In an LLC, one has the flexibility on how to file taxes. Unlike, corporation, LLC’s is treated as single taxation. On the other hand, in a corporation, its taxed on the profit and the dividends that its shareholders receive. Furthermore, there are also pros and cons in terms of business ownership. The owners of the corporation include shareholders. The owners of the LLC are its members. An LLC allows to distribute its ownership to members regardless on member’s contribution. This is important when distributing profits. In a corporation, you cannot create custom stock structure, or else it will be subject to paying the tax twice. All in all, LLC is the way to go for many startups, retail business shops, etc.