Comparing Business Entities

Easy
Limited Perpetual Transferability Separate
Liability Existence of Ownership Legal Entity Cost
Sole Proprietorship No No No No Low
General Partnership No No No No Low
Limited Partnership (Limited
partners
only) No No No Medium
LLC Yes Yes Yes Yes High
Close Corporation Yes Yes No Yes High
S Corporation Yes Yes Yes Yes High
Professional Corporation Yes No No Yes High
C Corporation Yes Yes Yes Yes High