Re: LLC or Corporation?

The real bottom line to an LLC vs C corp is this.  If you are building a 
company that will generate tremendous profits then LLC's are far better 
beause of favorable tax treatment - oh non-employee investors also enjoy 
a lower tax bracket on their earnings. If the corp is going to make a 
profit but you intend to take it in salaries then you'll be paying taxes 
everywhere - the company is taxed, you are taxed, and the investor owns 
only a part of a cash-strapped company.  LLC's give the investor a very 
quick return on investment plus he still owns his prorata portion of the 
company.
Doc

-=Almazick=- wrote:
> We are buying a small Gyros restaurant in Chicago, IL.  I have to make the
> company and can't decide between LLC and Corporation.  I was told that there
> is a double taxation for corporation and for LLC we have to make an Annual
> report which cost $250.  Which one will better suit me and be cheaper and
> easier to make LLC or Corporation?
>