5a2367bb_egal_Radio___Free_Legal_Advice__S_Corp
[0] Disadvantages [Partnership] Partners personally liable for business debts [Limited Partnership] General partners personally liable for business debts More expensive to create than general partnership. Suitable mainly for companies that invest in real estate. Annual Minimum Franchise Tax $800.00. [Limited Liability Company] More expensive to create than partnership or sole proprietorship. Annual Minimum Franchise Tax $800.00. [C-Corp] More expensive to create than partnership or sole proprietorship. Paperwork can be burdensome Separate taxable entity Annual Minimum Franchise Tax $800.00. [S-Corp] 
More expensive to create than partnership or sole proprietorship. More paperwork than for a limited liability company which offers similar advantages. Income must be allocated to owners according to their ownership interests. S Corporation election can only be made after a General Corporation is formed first. Annual Minimum Franchise Tax $800.00.
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S-Corp