I want to incorporate my new business. What kind of corporation is best?
There are two basic types of corporations: S corporations and C corporations (excluding corporations formed by nonprofit companies, which are known as 501(c)(3) corporations, named after the IRS code
So which is best for you? That depends on what type of business you're starting. If you plan on creating a large company (one that is publicly traded), choose a C corporation because shares of its stock are most easily transferred. While you might want an S corporation for tax reasons, they are limited to no more than 75 shareholders, all of whom must be individuals.