| C-Corp | S-Corp | LLC | FLP | |
|---|---|---|---|---|
| Annual Minimum Tax (Companies doing business in California) | $800 | $800 | $800 | $800 |
| Types of Business Purposes | Any | Any | No Business where a professional license issued by the State of California Except Insurance Agents | Generally family owned businesses or Real Estate or Securities holdings |
| Tax Structure | Double taxation | Similar to Partnership- Pass through to individual shareholders | Similar to Partnership- Pass through to individual members | Similar to Partnership- Pass through to individual partners |
| Separate Tax Return | Yes | Yes- Informational | Yes- Informational | Yes-Informational |
| Annual Registration Fee | $25 | $25 | $20 | $25 |
| Limited Liability for Officers/General Partners/Managers | Yes | Yes | Yes | No – General Partner remains fully liable for all debts and obligations of the Partnership, therefore usually you also need to form a special purpose corporation to act as General Partner. |
| Limited Liability for Shareholders/ Limited Partners and members | Yes | Yes | Yes | Yes |
| Annual Minutes Required | Yes | Yes | No | No |
| Discounted Gifting Avail. | No | No | Yes | Yes |
| LLC Fee (CA Only) | None | None | Gross Rev Fee: $250,000 – $499,999 $900 $500,000 – $999,999 $2,500 $1M – $4,999,999 $6,000 $5M + |
None |