- The most common types of corporations are C-corps (double taxed) and S-corps (not double taxed).
- Advantages of a corporation include personal liability protection, business security and continuity, and easier access to capital.
- Disadvantages of a corporation include it being time-consuming and subject to double taxation, as well as having rigid formalities and protocols to follow.
- This article is for entrepreneurs who are trying to determine their business structure and whether a corporation makes sense for them.
Small business owners have a variety of options when establishing the legal structure. One option is to structure as a corporation. Although there are several reasons why incorporating can be advantageous to your business, there are a few disadvantages to be aware of as well. To help you determine if a corporation is the best legal structure for your business, we spoke with legal experts to