If given the choice of being an owner of the above list of company structures, I would prefer filing my company under a Limited Liability Company (LLC) in the state of Delaware. Even though my business would be done primarily in New Jersey, Delaware has very favorable tax laws, asset protection and simple startup/ minimal requirements to incorporate compared to the other states in the union. In addition, in adding to what bb254 above, the LLC has numerous advantages compared to the other company structures including less paperwork (but make sure to file an LLC Operating Agreement otherwise state rules apply) and limited liability when it comes to dealing with company creditors. However there are some disadvantages such as self-employment taxes (because taxes are passes through the LLC’s members that are taxed at a higher level than a cooperate level), confusion about roles, and limited life of the LLC (such as if somebody dies). Once again, however, an Operating Agreement can be drafted to designate roles within the company and avoid dissolution upon a founder’s death.

https://www.rocketlawyer.com/article/why-start-an-llc-limited-liability-company-advantages-and-disadvantages.rl