professional corporation

Also found in: Dictionary, Thesaurus, Legal, Financial, Acronyms, Encyclopedia, Wikipedia.

professional corporation (PC)

Etymology: L, professio, profession
a corporation formed according to the law of a particular state for the purpose of delivering a professional service. In some states corporations may not practice law, medicine, surgery, or dentistry; in some states nurses may form or be partners in a professional corporation. According to the laws of the various states, professional corporations may offer legal and tax benefits to the members of the corporation.
References in periodicals archive ?
The potentially significant tax liability at the corporate and shareholder levels could deter professional corporations from accepting otherwise favorable merger offers from accounting firms organized as limited liability partnerships.
Regardless of the calculations, if the professional corporation can zero out income for 10 years, no built-in gains tax will ever be paid.
Aubrey Bassler Medicine Professional Corporation 03-20 Marathon
By having thc professional corporation purchase the property, Bill will be able to use capital losses to offset his gain on the sale.
Graham Clark Professional Corporation 02-20-2006 Callander
Pension Trust, which involved a oneman professional corporation engaged in architecture, the Tax Court stated: "As the sole employee of ECI [Catalano] is the fount of that company's income.
Eric Robinson Medicine Professional Corporation Sudbury
Hollander of Winthrop Couchot Professional Corporation, a Newport Beach-based corporate reorganization law firm, and by Robert E.
13, 2015 /PRNewswire/ -- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Pericom Semiconductor Corporation (NasdaqGS: PSEM) ("Pericom" or the "Company") relating to the proposed buyout of the Company by Diodes Corporation.
Appendix C: Employment Agreement for Professional Corporation

Full browser ?