Am I required to have a corporation in order to hire employees?
Asked a year ago
Since a corporation's structure and the process of forming one is a bit more rigid than the structure of an LLC, would this mean that I can only hire employees if I choose to form a corporation? I need to know what the main difference is between these two entities is before I pick one. Thanks in advance!
Monday, September 05, 2022
Any business entity can hire employees. The main differences between an LLC and a corporation are the management structure, ownership classification, compliance requirements, and tax treatment. LLCs have more flexibility regarding management, fewer compliance requirements, and aren't subject to double taxation. But, ownership of a corporation can be transferred more easily than LLC ownership.
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