And Forth From A Corporation To An S Corporation. Has tax advantages for New York City business owners over S Corporation. Although both LLC and S Corporation provide limited liability, the LLC would usually be preferred to S Corporation. No federal elections required upon creation, as LLC will be taxed as a partnership. Pluses and Minuses of Choosing a Particular Legal Structure for One's Business.
Corporate officers are major owners.
Banks view SP's as unstable. Must qualify with internal revenue service. Must meet tax requirements of partnership. Corporate officers are major owners. All rights reserved.