C corporation: This is the default corporation status with unlimited shareholders but double taxation and formation fees. S corporation: An S corp is a corporation that operates as a pass-through ...

To qualify your business as an S-corporation, you have to file Form S-2553-Election by a Small Business Corporation with the IRS. S-corporations differ from ordinary C-corporations in a few ways ...

In addition, if you do business in your home state, you may still need to register your LLC there and file yearly forms as required. See our guide for more information on how to start an LLC in Ohio .

The best states to form an LLC in are Wyoming, Delaware and Nevada due to their flexible laws, minimal taxes and privacy benefits.