S-Corp VS. LLC for German-American Joint Venture

Question

I am forming an on-line business partnership with a German citizen. I'd like to form a corporation for our joint venture - and each of us would be equal partners in the venture.

Would it be better to form an LLC or S-corp for this venture? Are there restrictions on citizenship for forming corporations?

Answer 1

A corporation is not a partnership, it is a seperate entity, owned by the shareolders.

S-Corporations may not have foreign residents as shareholders.

That leaves LLC or C-Corp, or a partnership.