One of the first things ZenBusiness will ask you when you begin setting up your business is whether you want to form an LLC or a Corporation
Corporations have been around for centuries and act as a legal entity that separates an owner from their business. A corporation pays taxes and can be liable for its actions. This separation shields owners from personal liability. Corporations require extensive record-keeping, operational processes, and reporting. Corporations can operate internationally. They can issue stock to attract outside investment.
Limited liability companies (LLCs) were first introduced in the 1970s. Many people prefer LLCs because they offer liability protection. They also have flexibility in taxation and management, and minimal record keeping. LLCs are not internationally recognized. They avoid corporate taxes and provide more ownership and distribution options.