New York S Corp vs. LLC Basics: Choosing your Corporate Entity in New York

Many of our New York law firm clients considering establishing a business entity in New York, often, are conflicted whether they should choose to establish a New York S Corporation (“S Corp”) or a New York limited liability company (“LLC”).  Choosing whether to establish as a New York S Corporation or an LLC is, often, an important decision for a New York company and its shareholders/members, thus, don’t take this choice for granted and consider the pros and cons with New York business-savvy attorney. The following may help initiate the conversation with your New York attorney.  If you are doing a deal with a non-American company or individual make sure to hire an international lawyer with experience working on transnational deals.  Additionally, these corporate forms are, generally, not available for professional corporations (i.e. law firms). NY S Corporation Basics An NY S Corporation is a Pass-Through Entity meaning that each

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