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Everything You Need to Know about Professional Corporations Professional corporations (PCs), or professional service corporations, are a unique corporate structure which is comprised of a specific group of professionals An S corporation or a C corporation may be formed by certain professionals including physicians, attorneys, engineers, or accountants
What Is a Professional Corporation? - Nolo Most professional corporations are classified as "personal service corporations" by the IRS and must file a professional corporation tax return As of 2018, all professional corporations pay a flat tax rate of 21%
Professional corporation - Wikipedia Professional corporations or professional service corporations (abbreviated as PC or PSC) are those corporate entities for which many corporation statutes make special provision, regulating the use of the corporate form by licensed professionals such as attorneys, architects, engineers, public accountants and physicians
Professional Corporations: Legal Requirements and Best Practices A professional corporation (PC) is a specific type of legal entity designed to provide a formal structure for licensed professionals, such as doctors, lawyers, and accountants, to conduct their business while limiting personal liability
professional corporation | Wex | US Law - LII Legal Information Institute A professional corporation (abbreviated as PC), also known as a professional service corporation (abbreviated as PSC), is a type of corporation established by state statute that permits owners of certain licensed professions, such as attorneys, architects, engineers, accountants, and dentists, to own shares in a corporation organized to render
Professional Corporations - Overview, How To Create, Taxation A professional corporation is an entity established by a specific type of professional, such as an attorney, doctor, architect, or veterinarian, to provide a service related to their profession Professional corporations are registered according to the governing laws of a specific state
Professional Corporation (PC) vs. LLC (How to Choose) The professional corporation is an incorporation structure preferred by highly skilled workers who’d like to start an independent practice rather than work a corporate job For example, three CPA accountants may want to start a joint practice and provide accounting and tax services
What Is a PLLC or Professional Corporation? | Wolters Kluwer A professional corporation (PC) is a corporation organized under state law to provide services by licensed professionals Some states use the term professional service corporation (PSC) or professional association (PA)
Professional Corporations – Corporations A professional corporation is a corporation consisting of professionals who are licensed to practice a particular profession such as accountants, lawyers and doctors
Tax advantages if you are a professional corporation A professional corporation can provide numerous benefits, yet it also has tax rate implications for people in specific professions who wish to take advantage of corporation status