buksoLLC S corporation C corporation entity
Not tax advice. General bookkeeping information only, checked against the official sources linked below (Canada Revenue Agency, IRS, provincial governments and Justice Laws) on Oct 17, 2026. Rules change; check with your accountant before you file.
United States
US: A single-member LLC is taxed like a sole proprietorship (Schedule C) unless it elects otherwise; a multi-member LLC is taxed as a partnership by default. An S corporation passes its income through to the shareholders' own returns (Form 1120-S, Schedule K-1). A C corporation pays its own corporate tax (Form 1120) and dividends are taxed again to the shareholders. Which one fits depends on your situation – ask your accountant before choosing.
Official source: irs.gov