The LLC is the #1 Choice for Small Business Owners
   
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Is an LLC a Corporation?
The answer is technically NO. The acronym LLC stands for limited liability company and this is a totally different legal structure than a corporation. The LLC is governed by limited liability company acts under the laws while the corporation is created and governed by stock corporation acts- two different bodies of law in each state.
 

An LLC has the Benefits of a Corporation
While these are two different entities, the LLC was specifically created to offer the advantages of benefits of a corporation without the disadvantages.
Accordingly the language providing limited liability protection for owners of an LLC is the same language used for corporation shareholders so the LLC and its owners can rest assured that they are receiving the same level of solid protection traditionally given to corporations for years.
The LLC can also be set up to be operated like a corporation with a board of directors and officers. If you choose this structure, the board is called a Board of Managers and the overall structure would be a manager managed limited liability company.

An LLC has More Flexibilty and Less Formalities than a Corporation
However, an LLC business can also have a much simpler structure which often is an advantage over a corporation as an entity of choice. The LLC laws require less in terms of meetings and formalities.

An LLC Can be Taxed as a a Corporation.
Another reason why many ask Is an LLC a corporation is because an LLC can be taxed as a corporation if it chooses to. The LLC can make an election to be treated as a corporation for federal income taxes. It still retains its LLC features and benefits under state law.
Forming an LLC
LLC Operating Agreement
LLC Information at LLC Learning Center
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