LLC: legally, it's a business entity

it protects you from personal liability.

Tax wise, LLC is not a separate taxable entity, you must elect it to be one of these:

Sole propietorship
Partnership
Corp (can be S or C corp)

by default, it's taxed as partnership (form 1065)

所有跟帖： 

• 谢谢！！tax-wise，该选哪个呢？我搞不清 -sunnyday006- ♂ (0 bytes) () 05/07/2010 postreply 09:52:15

• If you have 2 or more partners, pick Partnership -gchai- ♀ (123 bytes) () 05/07/2010 postreply 10:21:10

• S-Corporation比sole proprietor 有优势吗？audit是不是会少一些呢？ -sunnyday006- ♂ (0 bytes) () 05/07/2010 postreply 11:48:32

• S corp is generally better than Sole P. but -gchai- ♀ (65 bytes) () 05/07/2010 postreply 16:17:01

• 回复：S corp is generally better than Sole P. but -yantai- ♂ (200 bytes) () 05/07/2010 postreply 19:08:15

• Why don't you go online? -想发- ♂ (137 bytes) () 05/10/2010 postreply 16:01:49