Business Resources:
>>
A Good Business Plan
>>
Why Small Businesses Fail
>>
Business Tax Overview
>>
Family Business Tax Benefits
   Articles of Interest:
>>
The Feliciano Story
>>
Business Continuation Planning for Success
>>
Investment Fundamentals for Today’s Business Executive
>>
Buy-Sell Agreement Overview

AN LLC COMPARISON

  The LLC An S Corp Partnership
Limited liability Yes Yes Yes - if LP
No - if GP
Transferability No Maybe Maybe
Continuity of Life No Yes No
Centralization of The Management Maybe Yes Maybe
Kinds of Interest Various Common Stock Various
Owner(s) May Be Any Person Restricted Any Person
Number of Owners Two and No Limit One to 75 Two to 500
Allocations Special Allowed Pro rata Only Special Allowed
Distributions Preferential Allowed Pro rata Only Preferential Allowed
Stepped - up Basis Yes No Yes
Strict State Laws No Yes No
Subsidiaries or Affiliated Groups Yes No Yes

The above chart obviously cannot reflect all the nuances of the distinctions between business formats. However, it can help in the discussion of which form is most suitable for a new venture or change in structure for an existing enterprise.

Source: Tax Facts 2002, National Underwriter Company

Securities and Investment Advisory Services offered through Woodbury Financial Services, Inc.,
1828 ESE Loop 323 #200, Tyler, TX 75701 (903) 533-8585. Member FINRA, SIPC, and Registered Investment Advisor