| Liability Protection |
Limits Personal Liability |
Limits Personal Liability |
Limits Personal Liability |
Limits Personal Liability |
| Corporate Formality |
Relaxed Requirements. Still Need Operating Agreement |
Requirement for Annual Shareholder's Meeting; Resolutions; etc. Must Advertise Formation in PA. |
Requirement for Annual Shareholder's Meeting; Resolutions; etc. Must Advertise Formation in PA. |
Requirement for Meeting of Board of Directors. Must Advertise Formation in PA. |
| Double Taxation |
Profits are Only Taxed at Personal Level |
Profits are Taxed at Both Corporate and Personal Levels. |
Profits are Taxed at both Corporate and Personal levels |
Not Subject to Taxation |
| Pass Through Taxation |
Are a Pass Through Taxation Entity |
Can Be A Pass Through Taxation Entity if Elect Subchapter S Election |
Typically Taxed at Corporate Rate |
Not Subject to Taxation |
| Subchapter S Election |
Can file a Subchapter S Election |
Can File a Subchapter S Election |
Typically Taxed at Corporate Rate |
Not Subject to Taxation |
| Tax Exemption |
Must Pay Taxes on Profits |
Must Pay Taxes on Profits |
Must Pay Taxes on Profits |
Nonprofits are Exempt from Most State; Federal and Local Taxes. |
| Restricted Professional |
Can be Organized as a Restricted Professional Limited Liability Company |
Can be Organized as a Professional Corporation |
Cannot Be a Restricted Form of Entity Type |
Cannot Be a Restricted Form of Entity |
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See Pricing |
See Pricing |
See Pricing |
See Pricing |
