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For LLC formation services, visit our affiliate links below: Bizee: https://knottlearning.com/bizee Northwest: https://knottlearning.com/NorthWestRe... Inc Authority: https://knottlearning.com/IncAuthority Looking to open an LLC or corporation? In this video, we discuss the basics of the similarities and differences between the U.S. limited liability company (LLC) and corporation. Timestamps: 0:00 Introduction 2:21 Entity Structure & Ownership 10:13 Operating Requirements 17:21 Business Sector Rules 22:55 Income Tax Treatment 32:51 Other Tax Issues 41:07 Liability Protections 51:02 Going Public IPO For a larger database of tutorials, please visit our website and search for your question: https://knottlearning.com/ AFFILIATE DISCLOSURE: Some of the links in this video description may be affiliate links, which means we may receive a commission, at no additional cost to you, if you decide to make a purchase through one of our partners. DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials. #LLC #Corporation #Business