21483281_Forms_of_Organization_Overview__2
[0] Tax Factors [1] Generally exempt from federal and state taxes if receiving 501(c)(3) exemption. Liable for tax on unrelated business income, and other taxes such as property and sales (unless local and state exemptions apply). Donors can deduct contributions. [3] See for-profit corporation. [4] Usually not taxed as an entity because most LLCs choose pass through treatment whereby the members/owners report profits and losses on personal tax returns. Tax-exempt member/owners treat their share of income as exempt or subject to unrelated business taxable income, depending on the character of the income. [5] See LLC. Less ax regulation due to social goals. [6] Generally not taxed as an entity. Partners report profits and losses on personal tax returns. [7] Not taxed as an entity. Owner reports business profits and losses on personal tax return. [2] 
A C Corporation is subject to corporate tax on net income. If net income is paid to shareholders as dividends, the individual shareholders are taxed. If a corporation elects to be a S corporation and meets several criteria, it can receive pass through taxation.
Law For Change - New Jersey Forms of Organization Overview
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