Asset Protection Law
Does a small business (subchapter S corporation give me the same protection as limited liability company (LLC))?
No. In my opinion, a limited liability company provides superior asset protection than a S-corporation. This is because a creditor’s remedy with respect to a limited liability company is limited to a charging order, as compared to that of a sub chapter S-corporation where the creditor could essentially foreclose and take the entire interest of the S-corporation.