Carl
Level 15

Investors & landlords

The C in LLC stands for corporation, which would suggest a C-corp or an S-corp

I'm sorry, but that's just wrong and needs correcting. The "C" in LLC does not stand for corporation. It's stands for "Company". An LLC by default is not a corporation and is not incorporated unless separate actions are taken to incorporate it. 

For example, one can file IRS Form 2553 to have their LLC "treated like an S-Corp" for tax purposes. But it needs to be understood that when you do that, the business is treated like an S-Corp *FOR* *TAX* *PURPOSES* *ONLY*, and no other purpose. So for legal proceedings outside of taxes, the courts would most likely treat your LLC as a disregarded entity and/or pass through entity. Not a corporation.

See https://www.irs.gov/businesses/small-businesses-self-employed/limited-liability-company-llc for a bit more clarity on this. Basically the section called "Classifications".