Federal marginal tax rates from 15% to 39% with an overall maximum rate of 35%.  Possibly taxed again at distribution.  Shareholder pay tax on dividends.  Losses do not pass through to shareholders.

Shareholders are shielded from personal liability for business debts.  Only their investment is at risk.

Generally, no federal tax on the business entity.  Income and expenses are allocated among shareholders.  Taxable income is subject to individual rates from 10% to 35%, whether profits are distributed or not.  Losses pass through to shareholders.  Restrictions on loss deductibility apply.  State treatment of S corporations may vary.

Shareholders are shielded from personal liability for business debts.  Only their investment is at risk.

No federal tax on business entity.  Income and expenses are allocated among partners, and each pays tax of 10% to 35% (plus self-employment tax, if applicable) on their share of partnership profits whether distributed or not.  Losses pass through to partners.  Restrictions on loss deductibility apply

Personal liability rests with each partner.

No federal tax on business entity.  Income and expenses are allocated to members or partners, and each pays tax of 10% to 35% (plus self-employment tax, if applicable) on their share of LLC or LLP profit whether distributed or not.  Losses pass through to members or partners.  Restrictions on loss deductibility apply.

Members or partners are shielded from personal liability for business debts.  Only their investment is at risk.

Reported on Schedule C of Form 1040.  Income is subject to individual rates of 10% to 35%, plus self-employment tax.

Personal liability for all aspects of the business.