What are the major differences between a C and LLC corporation in California?
Recommended For Owners wanting the liability protection of a corporation, with the simplicity of pass-through taxation of income Owners needing maximum tax and ownership flexibility, combined with liability protection Owners wanting the simplicity of pass-through income taxation and the liability protection of a corporation with less formalities Owners wanting to legally do business as a particular name without having to create an entirely new or amend and existing business entity Ownership Shareholders Shareholders Members Owners Personal Liability Shareholders typically not liable for corporate debts Shareholders typically not liable for corporate debts Members typically not liable for debts of LLC Owners are personally liable for all debts of the business Formalities & Record Keeping Requirements Formal board and shareholder meetings and minutes Annual state reports Formal board and shareholder meetings and minutes Annual state reports Annual state reports Must renew your applicatio
