I can't decide if I need to do an S-Corp or an LLC. What are the most important things I should look at?":
There are several key factors that go into the decision between an S-Corporation and an LLC.
Are you planning to raise capital by selling ownership in your company? If the answer is yes, an S-Corp might make it easier to do so since you have the option to sell stock in the corporation.
If you are U.S. citizen, you must be a U.S. citizen to form an S-Corporation.
The allocation of income, gains, losses, and distributions differs between the two as well. A corporation's distributions are typically based on the stockholder's percentage of ownership in the corporation. An LLC may elect different allocation in their Operating Agreement.
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