| LLC | “C” CORPORATION | “S” CORPORATION | LIMITED PARTNERSHIP | GENERAL PARTNERSHIP | |
| Owner Title | Members | Shareholders | Shareholders | Partners | Partners |
| Number of Owners | 1+ | 1+ | 1 – 100 | 2+ | 2+ |
| Owner Liability | Generally None | Generally None | Generally None | General Partners | Partners |
| Life | Governed by Operating Agreement | Perpetual | Perpetual | Perpetual (Absent Any Triggering Event) | Perpetual (Absent Any Triggering Event) |
| Decision-makers | All Members
-or- Manager-Members |
Board of Directors -and- Officers | Board of Directors -and- Officers | General Partners | Partners |
| Effect of Owner’s Death/Departure | None | None | None | Dissolves Entity (General Partners) | Dissolves Entity (Any Partner) |
| Transferring Ownership | Governed by Operating Agreement | Sale of Stock | Sale of Stock (Some Restrictions) | Not Allowed | Not Allowed |
| Raising Capital | Governed by Operating Agreement | Sale of Stock | Sale of Stock | Governed by Partnership Agreement | Governed by Partnership Agreement |
| Income Tax | Members -or-
LLC & Members |
Corporation -and- Shareholders | Shareholders | All Partners | Partners |
| Losses | Members | Corporation | Shareholders | All Partners | Partners |
| Dissolution | Filing(s) Required | Filing(s) Required | Filing(s) Required | No Filings | No Filings |
