what is the difference between an LLC and a corporation?
Answers
The members are the contributors to the capital of the company, however, their liability is ring-fenced to the amount contributed. In contrast, a corporation is a business form where a group of people in a corporate form, acting as a single entity.
thank you
Answer:
One of the first decisions you'll make when starting a new business is choosing an entity type. Generally, most entrepreneurs choose to form a Corporation or a Limited Liability Company (LLC). The main difference between an LLC and a corporation is that an llc is owned by one or more individuals, and a corporation is owned by its shareholders.
No matter which entity you choose, both entities offer big benefits to your business. Incorporating a business allows you to establish credibility and professionalism. It also provides limited liability protection.