The main difference between corporate and personal income is that income is earned by a business entity, while personal income is earned by an individual. This is subject to corporate income tax rather than an individual tax. The tax benefits vary depending on the type of corporation, type of members of the LLC, owner’s draws, and the amount of income earned by the small business. Personal income, on the other hand, is subject to individual income tax, which is a tax on the income earned by individuals. The income tax rate varies depending on the individual's income level, filing status, and other factors. Another difference is that corporate income is separate from the income earned by the owners or shareholders of the corporation, while personal income includes all income earned by an individual, whether from employment, investments, or other sources.