Pros of S corporations Limited personal liability. Like a C corp, the business and its owners are considered separate entities, so only the business’s assets are subject to creditor claims or litigation. No double taxation. The company itself doesn’t pay corporate income tax; instead, the bu...
From March 13, 2020 until at least April 13, 2020, all deadlines under Title 47, Revenue and Taxation of the Louisiana Revised Statutes are suspended. The extension also applies to all legal deadlines, including liberative prescription and peremptive periods applicable to legal proceedings in all...
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Pros of S corporations Limited personal liability. Like a C corp, the business and its owners are considered separate entities, so only the business’s assets are subject to creditor claims or litigation. No double taxation. The company itself doesn’t pay corporate income tax; instead, the bu...
Pros of S corporations Limited personal liability. Like a C corp, the business and its owners are considered separate entities, so only the business’s assets are subject to creditor claims or litigation. No double taxation. The company itself doesn’t pay corporate income tax; instead, the bu...
Pros of partnerships Fewer regulations. This structure isn’t subject to the complex tax laws and other regulations that apply to corporations. No double taxation. Partnerships are pass-through entities, also called disregarded entities, which means the business doesn’t pay tax on its profits. Ins...