Business Entity Selection
One of the most important decisions you need to make when setting up a business is what type of entity to select, sole proprietor, LLC, Partnership, Corporation, or S Corporation. The selection has significant legal and tax implications. Although we can't help you with the legal issues, we can give you an idea for certain tax impacts. (Please remember that each individual situation is unique and requires detail review- this is just a general "thumbnail sketch").
Click Here for S Corp vs. C Corp comparison example