Deductions & credits

For the record:

 

LLC = Limited Liability Company (this entity is registered at the state level and is not a corporation). LLCs have members.

 

Partnerships are, by definition, unincorporated and are typically registered at the state level. Partnerships have partners (general and/or limited).

 

Corporations are registered at the state level and have shareholders (except certain non-stock corporations). The most common types are "S" and "C" corporations, so named for subchapters of the Internal Revenue Code.