 |  |  |  |  |
| Corporations | Sole Proprietorships | LLCs |
|---|---|---|
| Pros | Pros | Pros |
| Great asset protection. Corporation can only be sued for what the corporation is worth...shareholder's assets are protected. | Simplest business form to setup and operate. No double taxation like a Corporation. | Great Asset protection like a Corporation. |
| Cons | Cons | Cons |
| Double taxation (paying corporate tax then also paying on dividends). More complicated to setup and manage this business form. | No asset protection. If your company is sued and you lose, even your personal assets can be taken. | More complicated to setup and manage this business form, but not near as complicated as a Corporation. |
|
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