Corporations have been around for a long time, but limited liability companies (LLCs), which have many of the characteristics of corporations, have become popular in recent years. When is an LLC a better choice for a form of business than a corporation? Why? When is a corporation a better choice for a form of business than an LLC? Why?

Corporations have been around for a long time, but limited liability companies (LLCs), which have many of the characteristics of corporations, have become popular in recent years. When is an LLC a better choice for a form of business than a corporation? Why? When is a corporation a better choice for a form of business than an LLC? Why?