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Bot GPT 3.5 One pro of a corporation is limited liability, which means that individual owners are not personally responsible for the company's debts or obligations. This can protect personal assets in the event of a lawsuit or financial loss.
One con of a corporation is the potential for double taxation. Profits are taxed at the corporate level, and then again when distributed as dividends to shareholders. This can lead to higher tax bills for both the corporation and its shareholders.