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Decide whether to form an LLC or a corporation -- the most important business decision youll make. Your company has grown -- now its time to upgrade your legal structure to something that will protect you and your assets, as well as provide other benefits. In other words, your business is ready to become either a corporation or a limited liability company. The question is, Which one? The answer isnt always clear -- but because your choice will affect the legal and tax status of your business, its the most important question youll need to answer. LLC or Corporation? will help you make the right choice with plain-English explanations of the basics of business entities how each business entity protects you from personal liability profits, losses and tax treatment converting from one type of business entity to another what to do if you conduct business out of state Making the right choice will affect your bottom line in many ways -- from what you pay in taxes to your ability to seek money from investors.