Business Type Comparison Table - Bizfilings
[Pages:1]Business Type Comparison Table
This table provides an at-a-glance reference for comparing the most common business entity types.
Sole
General
C
S
Proprietorship Partnership Corporation Corporation
State filing (& filing fee) required for creation
Ongoing state filings and fees
Limited liability protection
Perpetual duration of the business
Strict ongoing corporate formalities
Flexibility in who manages the business
Business taxed at entity level
4
4
4
4
4
4
4
4
4
4
4
Limited Liability Company
4 4 4
maybe
4
maybe
Limited Partnership
Limited Liability Partnership
4
4
4
maybe
4
4 4
maybe
4
Pass-through income/loss
4
4
4
4
4
4
Double taxation
Ease of raising capital
Ease of adding owners/ transferring ownership interest
Sole Proprietorship
4
4
4
maybe
4
4
maybe
maybe
maybe
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