Which of the following represents a difference between an S corporation and a limited liability company (LLC)?
A. An S corporation can have more than one type of stock outstanding, whereas an LLC can have only one type of stock outstanding.
B. An S corporation can choose to be taxed as a corporation or as a partnership, whereas an LLC is taxed as a corporation only.
C. An S corporation is subject to unlimited personal liability of the owners, whereas an LLC is subject to limited personal liability.
D. An S corporation has no more than 100 stockholders, whereas an LLC can have more than 100 owners (members).
E. An S corporation's business income is subject to double taxation, whereas an LLC's business income is taxed only once.
Answer: D
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