Does a small business (subchapter S) corporation give me the same protection as an LLC?
Video Transcript
In almost every instance the protection of an LLC is superior to the protection afforded by an S corp. If you have your assets owned by an LLC, a creditor is limited only to a charging order against your interests. That means that the creditor would obtain the distribution out of the LLC, if one is made. Compare that to an S corp where the creditor can actually take the stock of the debtor. If they take the stock, they can vote the stock, and liquidate the S corp and take the assets out of the S corp.
