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Differences and Advantages of US LLC vs. S Corp?

Thread starter turmpy
Start date May 1, 2024
Tags

us llc us s corp

turmpy

Mentor Group Lifetime

May 1, 2024

#1

I have read quite a bit about US LLCs and S Corps, but I simply can't figure out what the difference is between the two? And what are the advantages?

Marzio

Rainmaker

Pro Member

May 1, 2024

#2

You can form a S-Corp only if you are a resident alien. This is the main difference that you need to know.

Reactions: turmpy

turmpy

Mentor Group Lifetime

May 1, 2024

#3

So you mean, no foreigner can own s-corp right? okay, if that is the only thing I focus on LLC

Marzio

Rainmaker

Pro Member

May 1, 2024

#4

turmpy said:
No foreigner can own s-corp right?

Correct.

Reactions: turmpy

lavel

Offshore Agent

Mentor Group Gold

May 7, 2024

#5

That's why most discussions here focus on US LLC non s-corps

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