What are the Advantages of a Corporation vs an LLC?

I’m often asked as a Hartford County, Connecticut Business Lawyer, what are the advantages of setting up a Connecticut corporation?

One of the advantages is the free transferability of the shares in the company. Another advantage is the limits on liability that shareholders have. Another issue that can be an advantage or a disadvantage is the potential dual-taxation of the company. This results from an election to be a C corporation as opposed to an S corporation. Some of the disadvantages of running and operating your business through a Connecticut corporation as opposed to an LLC is the requirement that there be annual meetings and quarterly director’s meetings of a Connecticut corporation. This results in additional costs for running a Connecticut corporation as opposed to an LLC.

About the author

Lindh Foster, LLC

Connecticut Business Lawyer & Debtors Rights Attorney, Eric Foster of Lindh Foster, LLC, has been practicing law for over 25 years in Connecticut, New York and Hong Kong, China. As a Connecticut Business Lawyer, Eric Foster’s legal practice currently centers around representing small businesses and entrepreneurs, in selecting their business structure, forming their businesses, and managing their business transactions. As a former attorney at the Federal Reserve Bank of New York where he focused on the regulation of banks’ lending activities, Attorney Foster is also a passionate consumer advocate and a member of the National Association of Consumer Advocates (NACA). As a Debtor Rights Attorney, Attorney Foster enjoys advocating for and representing consumer debtors in connection with credit card, student loan and other debts they allegedly owe creditors and debt collectors.

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