<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=Content-Type content="text/html; charset=iso-8859-1"> <META content="MSHTML 6.00.2900.3268" name=GENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=#ffffff> <DIV><FONT face=Arial>Paul - your information is consistent with mine.</FONT></DIV> <DIV><FONT face=Arial></FONT> </DIV> <DIV><FONT face=Arial>Terry Farrell</FONT></DIV> <DIV><FONT face=Arial>Farrell Piano, Inc.</FONT></DIV> <BLOCKQUOTE dir=ltr style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"> <DIV style="FONT: 10pt arial">----- Original Message ----- </DIV> <DIV style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><FONT face="Arial, Helvetica, sans-serif">Talk to your lawyer again. It is exactly the same for a C corp as an S corp in terms of personal liability. The major and compelling difference between the two is the tax advantage of "flow through" available as an election under the S status, rather than being double taxed (corporate taxes and personal income taxes). Both structures otherwise work similarly in the context of personal legal liability in the face of damage or ensuing litigation. </FONT><BR></DIV> <DIV><BR></DIV></BLOCKQUOTE></BODY></HTML>