LLC vs S Corp: Which Fits Your Business and When to Switch
LLC vs S corp explained: what each one is, how the S corp election changes owner pay and payroll tax, who qualifies, and when switching pays off.
Business Taxes
See how U.S. federal taxes apply to LLCs and corporations whose owners live in the United States. These guides explain default LLC taxation, the S corporation election, C corporation tax and other federal basics in plain terms. They are general information, not tax advice, so check your own situation with a qualified tax professional. Begin with our comparison of LLC vs S corp. If you are forming with IncReg and want S corporation status, you can add the S-Corp tax election (Form 2553) on the order page.