LLC vs. C-Corp vs. S-Corp: The most important business decision you'll make Whether you are starting a new business or thinking about an existing one, the big question is Which legal structure is best? The answer has important legal and tax consequences. LLC or Corporation? explains: the basics of all business entities why sole proprietorships and partnerships are usually a poor choice how to avoid being personally liable for business debts how to pay less tax by choosing the right entity how to convert from one business entity to another, and requirements for doing business out of state. LLC or Corporation? is packed with real-world examples to help you make the best choice for your company. The 8th edition is updated with the new tax rates and deductions from the Tax Cuts and Jobs Act.