Someone just told me an “LLC and Corporation are the same thing and the only different is the liability...”

I believe education is important, so let me correct a few things quickly.

An LLC and Corporation are legally not the same thing. If they were, they would have the same formation and regulation requirements and they do not.

An LLC is not required to have officers. A corporation is. An LLC is not required to keep business records/meeting minutes. A corporation is. An LLC is not required to have annual meetings. A corporation is...etc etc. corporations are WAY more regulated legally than LLCs

Lastly, They do however BOTH afford liability protection to its members/shareholder/directors Etc. So it is incorrect to say their liability protection is “different.”

I’m keeping it brief so that’s it for now lol