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LLC, or Limited Liability Company. This business structure protects you from personal responsibility for the company’s debts or liabilities. An LLC gives you protection from debt collectors and lawsuits involving the company, just as a corporation would. But unlike a corporation, the LLC allows what’s called “flow through” for tax purposes. The LLC doesn’t pay corporate income taxes. The company’s profits and losses (or deductions) are passed on to the members of the LLC. With an LLC it’s easier to set up than a corporation . An LLC may have to be dissolved if a member dies or files for bankruptcy. The ownership or equity stake of an LLC cannot be publicly traded. But for many folks starting a business, forming an LLC is a great way to get started.C-corp … the C-corp is different from LLC as it does not allow a “flow through” treatment of profits and losses for tax purposes. A C-corp is subject to corporate income taxation. A C-corp requires you to hold annual meetings and have a board of directors that’s vot