Posts made by Spiral

Corporations in comparison, have annual registrations, corporate minutes, and other corporate formalities to comply with, in order to keep the business entity intact without the state doing an administrative dissolution, because of failure to comply.

And for Delaware LLC, they have a $250 annual fee for LLCs, but many states have much less fees or only one first time initial fee of $50, such as for Missouri.

That is correct. LLC's still do not have much judicial history in the courts to know how certain facts and circumstances will play out in court.

A LLC is, historically, newer form of business entity, which for tax purposes can elect to be taxed as many different ways. If a single member, by default it will be taxed as a disregarded entity (sole proprietorship). If multiple members, by default a partnership, or if elected, a S-corp or C-corp. While being a state entity, a LLC is not a corporation, but has many similar liability statutory protections, just like a corporation, but generally has less of the formalities as a corporation. If naming has conflicts, in most states you can do a nontaxable reorganization to change names, etc.