Introduction
When starting a business, one of the first and most important decisions is choosing the right legal structure. This choice affects taxation, the level of personal liability, and reporting requirements. The most common types of companies in the USA are LLC (Limited Liability Company) and C-Corp (C-Corporation).
In this article, we’ll review the features of both structures, compare their advantages and disadvantages, and outline the key steps for registration.

LLC (Limited Liability Company)
An LLC is often the best choice for small and medium-sized businesses thanks to its simplicity and flexibility. This structure combines the characteristics of both partnerships and corporations.

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Key Features of an LLC

• Limited liability for members (owners are called “members”).
• Pass-through taxation — profits and losses flow through to the members’ personal tax returns, avoiding “double taxation.”
• Minimal corporate formalities compared to a corporation.
• Best suited for businesses that don’t plan to issue stock or attract large-scale investors.

C-Corporation (C-Corp)
A C-Corp is a separate legal entity owned by shareholders.
Key Features:

• Limited liability for shareholders, directors, and officers.
• Ability to raise capital by issuing stock.
• Broader access to tax deductions and benefits.
• Subject to double taxation:
• the company pays corporate income tax,
• shareholders pay tax on dividends.

This structure is often chosen by startups planning to scale and attract venture capital.

Which Structure to Choose?

• LLC — best for entrepreneurs who value simplicity, minimal formalities, and want to avoid double taxation.
• C-Corp — ideal for companies with growth ambitions, investor funding plans, and goals of entering the capital market.

Steps to Register a Company (for Both Structures):

1. Choose the state of incorporation.
2. File the formation documents (Articles of Organization for an LLC or Articles of Incorporation for a C-Corp).
3. Appoint a registered agent.
4. Pay state filing fees.
5. Obtain an EIN (Employer Identification Number).
6. Open a corporate bank account.
7. Prepare internal documents (Operating Agreement for LLC or Corporate Bylaws for C-Corp).
8. Register with tax authorities and file annual reports.

Conclusion
The choice between an LLC and a C-Corp depends on your business goals:

• If you want simplicity and single taxation — choose an LLC.
• If you plan to attract investors and scale — a C-Corp is the right option.

Before registering, it’s highly recommended to consult with an accountant or attorney to determine the most beneficial structure for your business.

EIN, SSN, and ITIN are taxpayer identification numbers issued by the Internal Revenue Service (IRS) in the United States. They are used to identify individuals and businesses for tax purposes.

EIN (Employer Identification Number)An EIN is a unique nine-digit number assigned to a business entity for tax reporting. Companies use it to file taxes, report financial information to the IRS, and open business bank accounts.

To obtain an EIN quickly, the business owner usually needs to have an SSN or ITIN. If not, the process can take up to 60 days. The company must complete Form SS-4 and submit it to the IRS, typically by fax.

SSN (Social Security Number)An SSN is a unique nine-digit number issued to individuals for tax and social security purposes. It tracks a person’s earnings throughout their lifetime and determines eligibility for social benefits.

To receive an SSN, an individual must have U.S. work authorization, a Green Card, or U.S. citizenship.
ITIN (Individual Taxpayer Identification Number)An ITIN is a nine-digit number assigned to individuals who need a taxpayer identification number but are not eligible for an SSN. It is often used by foreign nationals and non-residents to report income and pay U.S. taxes.
To obtain an ITIN, you must:

• Complete Form W-7,
• Provide a certified copy of your passport (verified by a Certified Acceptance Agent, or CAA),
• Submit the required supporting documents,
• Attach proof of income through a tax return.

Our company provides ITIN application assistance — you can request this service after registering your business.
Why These Numbers MatterHaving a taxpayer identification number (EIN, SSN, or ITIN) is essential for both individuals and businesses to comply with U.S. tax law. These numbers are also required to:

• Open bank accounts,
• Apply for loans,
• Conduct other financial transactions.

In short, EIN, SSN, and ITIN are tools the IRS uses to identify taxpayers and track financial information. They are indispensable for operating legally and effectively in the U.S. market.

Board of Directors and Key Corporate Roles
Chief Executive Officer (CEO)
The CEO is the highest-ranking executive in a corporation. They are responsible for making major decisions, overseeing overall operations and resources, and serving as the main link between the board of directors and day-to-day business activities. The role of the CEO typically includes developing the company’s vision, strategy, and direction, as well as managing both internal and external relationships.
In some cases, the CEO may also be the company’s founder or someone appointed by the board to lead the organization. The specific responsibilities of a CEO can vary depending on the size, industry, and structure of the corporation.
Chief Financial Officer (CFO)
The CFO is a senior executive responsible for managing the company’s financial operations. Their core duties include financial planning and analysis, risk management, budgeting, financial reporting, and oversight of accounting and finance departments.
The CFO works closely with the CEO and other executives to develop financial strategies, maintain stability, and drive business growth. This role is critical for informed decision-making on investments, capital allocation, and overall financial management. In smaller organizations, the CFO may also act as the company’s financial controller.
Key responsibilities of a CFO include:

• Managing cash flow, corporate investments, and credit lines,
• Overseeing risk management,
• Building financial strategies to ensure liquidity and optimize performance.

Corporate Secretary
The corporate secretary is responsible for overseeing administrative and legal matters, maintaining corporate records, and ensuring compliance with governance standards and regulatory requirements.
Typical responsibilities include:

• Preparing agendas for board meetings,
• Recording and distributing meeting minutes,
• Filing required reports with regulatory authorities,
• Supporting shareholder communications,
• Ensuring the company adheres to relevant laws and corporate governance practices.

Often, a corporate secretary may have a legal background to better handle the regulatory aspects of the role.
Combining Roles in Small Businesses
In startups and small businesses with limited resources, it is common for one person—often the founder—to serve in multiple roles such as CEO, CFO, and corporate secretary. While this can be efficient in the early stages, as the company grows, it is generally recommended to separate these functions to ensure effective management, oversight, and compliance.
In larger or publicly traded companies, regulations may even require clear separation of certain executive and governance roles.