• Business Forms for Conduct of a Trade or Business
    Business Forms for Conduct of a Trade or Business . Introduction . A partnership, an S corporation and a regular C corporation are the three most common business forms suitable for the operation of...

  • Comparing an S Corporation and C Corporation
    Comparing an S Corporation and C Corporation . Introduction . Deciding whether to have a corporation make the S corporation election primarily involves weighing the tax advantages and nontax...

  • Comparing an S Corporation and a Partnership
    Comparing an S Corporation and a Partnership . Formation - Creating a corporation is less time consuming than forming a partnership. More complex documentation is required to achieve the same goals...

  • Specific Tax Problems Related to Limited Liability Companies
    Specific Tax Problems Related to Limited Liability Companies . In General . Limited liability companies (LLCs) are statutory creatures which combine the corporate characteristic of limited liability...

  • Limited Liability Partnerships
    Limited Liability Partnerships . Introduction . Within the last few months, limited liability partnerships (LLPs) have effectively been approved as an acceptable form of doing business for...

  • One-Member LLCs
    One-Member LLCs . In General . The various state LLCs acts, although not the product of a uniform limited liability act, contain many substantially similar provisions, particularly in areas affecting...

  • Using LLCs in Estate Planning
    Using LLCs in Estate Planning . In General . From an estate planning perspective, LLCs merit serious consideration as an alternative to partnerships and corporations in several cases. However,...

  • Appendix A
    APPENDIX A Foreign Business Entities Business Entities Formed in the Following Jurisdictions are Corporations for Federal Income Tax Purposes: American Samoa, Corporation Argentina, Sociedad Anonima...

  • APPENDIX B
    APPENDIX B Check the Box Regulations 1. If Trust - Will be treated and taxed as a trust (except for a trust properly classified as a business entity) - See Reg. ยง 301.7701-4. 2. If filed articles of...

  • APPENDIX E
    APPENDIX E Table for Comparison of a Partnership, an LLC, a C Corporation, and an S Corporation . Factor Partnership LLC C Corporation S Corporation 1. Ease of Formation Few formal restrictions and...

  • APPENDIX F
    APPENDIX F Practical Considerations in Selecting Entity Choice of Entity . What options are available? Sole Proprietor/One Member LLC. C Corporation. S Corporation. Partnership. General Partnership....