LLC and transfer of interests. Under this agreement all the members have limited liability provision and enjoy full security of their personal assets. Non-Profit CorporationBusinesses that undertake varied activities with an aim to do good for the society should be registered as non-profit incorporations. The income earned from the business is used for charitable, religious, educational or scientific activities. The motive of the business is not to make profit. Income generated by most of these organizations is exempted from income tax.

CorporationIt is taxed under Subchapter S of the Internal Revenue Code. IRS approval is required for Subchapter S status. All earnings or losses are passed directly to the personal income tax return thus avoiding the case for double taxation.

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