When forming a small business, the choice of form is usually between the S Corp. and the LLC. Subchapter S Corporations are quite common, but they have many disadvantages when compared with Limited Liability Companies. In this segment of Spot The Issues, the type and number of shareholders, the tax treatment, types of equity and salary structure for principals in the enterprise will be discussed by Emily Campbell, Esq., the Managing Member of The Campbell Firm PLLC, a general practice law firm based in Manhattan.
