For many companies, it can deliver significant tax benefits as well ... operating as an LLC rather than a C Corporation may ...

For some, this may include refining their financial structures, specifically working to minimize tax implications moving forward. One method that is gaining traction is the S corporation election.

Instead, their profits and losses can be reported on the personal tax returns of the owners. Or, the LLC may choose to be classified as a corporation for tax purposes. If fraud is detected or if ...