- Income passed through to owners
- Personal assets protection
- File taxes once a year
- Can have 1-100 shareholder
- Single person can form an S-corp
- Can only have one class of stock
- Technically, limited liability companies cannot be publicly traded. However, there is a way for an LLC to structure itself as a partnership and publicly trade ownership interest on a securities exchange.
- An LLC can elect to be treated as a corporation by filing form 8832, Entity Classification Election form. Once the entity has been classified as an association taxable as a corporation, you would then need to file form 2553 to request an S-corp tax election.
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