What Is a Personal Service Corporation?

Answer

A personal service corporation is a corporation which performs personal services as its main activity during the testing period. The personal services are usually carried out by the employee-owner. The employee-owner possesses more than 10 percent of the fair market value at the end of the testing period.
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What Is a Personal Service Corporation?
The IRS defines a personal service corporation (PSC) as a corporation whose main work is to offer services in accounting, actuarial science, architecture, consulting, engineering, health (including veterinary services), law or the performing arts. To be... More »
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Q&A Related to "What Is a Personal Service Corporation"
The PSC's principal activity is performing personal services. Employee-owners must perform most of the services offered. This requirement is satisfied if employee-owners receive more
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1. Have substantially all of the corporation’s activities involved in the performance of services in a specified field. To qualify as a Personal Service Corporation the corporation
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A business that performs personal services in large part by the owners rather than selling, manufacturing, etc. They are taxed at a higher rate than other corporations. I had a client
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Do you have a small Canadian corporation with few clients that provides services such as consulting to other companies? Then your corporation is in danger of being declared a Personal
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The PSC's principal activity is performing personal services. Employee-owners must perform most of the services offered. This requirement is satisfied if employee-owners ...
The PSC's principal activity is performing personal services. Employee-owners must perform most of the services offered. This requirement is satisfied if employee-owners ...
The PSC's principal activity is performing personal services. Employee-owners must perform most of the services offered. This requirement is satisfied if employee-owners ...
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