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LLCs and S corporations (S-corps) are often talked about together, but they are not an either-or choice. A limited liability company (LLC) is a legal business structure. An S-corp is a tax classification. You can elect to have your LLC taxed as an S-corp, and many companies choose this option for tax advantages, but it’s important to know when and how these advantages apply.
Business entities and tax structures can be complicated. Understanding them can save you and your company time, money and potential headaches in the future.
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