Question: Choosing a Corporate Designator

What is the difference between the 3 choices for corporate designators-Corporation, Incorporated or Limited? How do we know which one to select?

Asked by Anonymous

Answers:

Advice from PTO Today

Craig writes:
Corporation and Incorporated are the same thing in a legal sense. But once you pick one or the other, you have to stick with it. LLC (Limited Liability Company) is the other choice. It's a structure set up for small businesses. It's possible for a PTO to incorporate as an LLC, but I'm not sure what the advantage would be for a tax-exempt organization. Most PTOs choose the inc. designation.