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What is the difference between the taxes paid by an LLC and a Corp?

April 26, 2017Corp difference LLC paid taxes

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What is the difference between the taxes paid by an LLC and a Corp?

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The basic difference is that Corporations pay taxes separately whereas an LLC is taxed as a partnership. In both cases the partners do not need to be residents unless a corporation switches to S-CORP (which is an advantageous regimen of taxation).