Each ownership of the corporations has its advantages and disadvantages. I would prefer to be Limited Liability Corporation (LLC) over the other types of corporations. There are no limited possible owners. The partners can sell shares to raise money, there is limited liability in LLC. LLC are easy to operate, partners can draw money from the company. There are no corporate regulations. The owners have a management ability for running the business. There is possibility to have multiple ownership level. The owners of the LLC are protected from the liability and debts. The cons of LLCs are there is lot of paperwork that must be setup, the partners do not share the profits. There may be difficulty in raising the financial capital. The company could be expensive to establish and maintain. There is the possibility of reporting complexity. Profits which are distributed to the shareholders are taxable.