LLC vs Sole Proprietorship Calculator

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📈 LLC vs. Sole Proprietorship Calculator
LLC
Sole Proprietorship
📚 Key Differences at a Glance
FactorLLCSole Prop
Personal Liability ProtectionYesNo
Self-Employment Tax15.3% (can reduce with S-Corp election)15.3% on all profit
Credibility / ProfessionalismHigherLower
Business Bank AccountEasier to openMay use personal
State Annual Fees$0 to $800+/yr$0
Pass-Through TaxationYesYes
Separate Legal EntityYesNo

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⚠️ Disclaimer: This comparison is for informational purposes only and does not constitute legal or tax advice. Tax situations vary. Consult an attorney and CPA for your specific business situation.
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