Corp vs LLC, which is right for you?
Here are the cliffnotes on the differences between a Corp contractors license and an LLC contractors license.
The main difference is the bonding and insurance requirements.
I'm often asked what's the difference between corporation contractors license and an LLC contractors license. All license entity types, with the exception of an LLC license, require only the $15,000 license surety bond. You don't need to have general liability insurance for a sole owner/partnership/corporation license, but it is highly recommended and a good business practice.
The LLC license requires the same $15,000 license surety bond, plus a $100,000 worker surety bond, and a $1,000,000 general liability policy. Do you need a bond? Click here for a quote.
The 15k bond and the general liability policy are easy to get and are very affordable. The 100k bond is still easy to get but is not as affordable. Prices range between $1250 to $5000 a year.
Other than the bonding and insurance requirements, you may want click here to read about the differences between the two entity types.
So that's it in a nut shell, corp vs llc from the licensing perspective.