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When choosing between a Personal Service Corporation (PSC) and a Limited Liability Company (LLC), it's essential to consider various aspects such as legal structure, tax implications, benefits, and drawbacks1234.
Comparison of Personal Service Corporation and LLCAttribute Personal Service Corporation (PSC) Limited Liability Company (LLC) Sources Legal Structure Corporation Flexible (single or multi-member) 1 2 4 Taxation Flat corporate tax rate of 21% Pass-through taxation 1 3 4 Liability Protection Limited liability Limited liability 1 2 4 Compliance Strict IRS regulations Flexible, fewer regulations 1 2 4 Choosing between a PSC and an LLC depends on your specific business needs, including the type of services you provide, your tax preferences, and the level of regulatory compliance you are willing to manage1234.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.www.supermoney.com/encyclopedia/personal-serv…www.investopedia.com/terms/p/personal-service-c…legalbeagle.com/13343749-taxation-of-a-personal-…www.forbes.com/advisor/business/llc-types/- People also ask
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