Corporation This form is large and requires enormous involvement of all members. The advantage of this form of business is that all liability is borne by the company, however, if the bank requires specific personal guarantees from the brothers, they accept or offer assets as collateral to relieve no other liability other than the pledged assets. This form allows the company to be a separate unit from the owners and shareholders. Shareholders own the business and are limited in their liability only to the amount invested in the company. This means that the owners do not run the business, which means that the shareholders elect a board of directors to run the business. The company and shareholders are taxed on profits and dividends respectively. This indicates that the company is subjected to double taxation and is much higher in this form than in all other forms. However, the Subchapter S Corporation provides the same benefit stream as the LLC. The significant difference is that the company is chartered by the federal government instead of the ...