ad4d9912_siness_Entity_Comparison_Chart__4
[0] S Corporations [1] Up to 75 shareholders allowed; only one basic class of stock allowed [2] Generally no personal liability of the shareholders for the obligations of the corporation [3] Entity generally not taxed as the profits and losses are passed through to the shareholders (pass-through taxation) [5] Board of Directors has overall management responsibility and officers have day-to-day responsibility [6] Shareholders typically purchase stock in the corporation, but only one class of stock is allowed [4] 
Articles of Incorporation Bylaws Organizational Board Resolutions Articles of Incorporation Stock Certificates Stock Ledger IRS & State S Corporation election
ILRG: Business Entity Comparison Chart
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