The differences between the two are not that noticeable , but each has their own advantages. An LLC allows partners to separate their liabilities when they go into business together and they get a discount tax rate. So if one partner goes down for bad practices they all don’t go down. (hence Limited Liability Company) the liability is distributed between each partner.
S-Corporartion offer most of the same advantages of as LLC’s except they usually hold a higher value such as large company’s with a board of directors and stockholders. They all usually look for the comfort of the word corporate when aplying or purchasing.
In general LLC’s are for the smaller partnerships, but not always and corporations are for bigger companies with stockholders and board of directors.
