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Formation Cost
$50–$500 (Plus Local State Fees)
Limited Liability Company
Flexible business structure combining liability protection with tax simplicity.
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Formation Cost
$200–$1,000 (Based on Federal vs Provincial Filing)
Corporation
A distinct legal entity in Canada offering complete liability protection and corporate tax benefits.
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Detailed breakdown of key regulatory and operational differences.
Factor
Limited Liability Company
Corporation
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Liability Protection
Complete Personal Shield Protection
Full Corporate Shield Protection
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Taxation Type
Flexible (Pass-Through or Corporate Election)
Corporate Tax System (Federal + Provincial Rates)
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Ownership Structure
Members (owners), flexible management structure
Shareholders and Board of Directors (Min 25% Canadian resident directors required federally)
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Compliance Level
Annual/Biennial Statement Report filings + franchise tax
Annual corporate tax return (T2), corporate resolutions, and annual registry filings
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Complexity
Low to Medium
Medium to High
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Filing Support Verified
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