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Personal service corporation


In United States tax law, a corporation is a personal service corporation if it meets all of the following requirements: 1. Its principal activity during the “testing period” is performi...

Publication 542 (03/2012), Corporations - IRS.gov


Its principal activity during the “testing period” is performing personal services ( defined later). Generally, the testing period for any tax year is the prior tax year.

Beware the pitfalls of the personal service corporation | Medical ...


Jul 25, 2011 ... If you incorporate, being designated a personal service corporation by ... by qualified people, defined as either (1) employees who are currently ...

Personal-Service Corporation Definition | Investopedia


A corporation that is created for the purpose of providing personal services to individuals or groups. To be considered a personal-service corporation by the IRS, ...

Refining the Definition of a Personal Service Corporation


Aug 31, 2006 ... TAX CASE n 1987 Congress amended the tax law to provide that a personal service corporation (PSC) is not eligible for graduated corporate ...

Personal Service Corporations - Larkin Hoffman


of ownership by an employee whatsoever, the definition of PSC II will not .... the “ qualified personal service corporation,” there is no ownership aspect.

Taxation of a Personal Service Corporation vs. an LLC | Chron.com


In most states, professionals such as dentists, engineers and architects can run their businesses as personal service corporations -- also referred to as ...

Personal Services Corporation - Definition - Money


Jun 8, 2016 ... Definition: What is a personal services corporation? Bluntly, a designation by the Canada Revenue Agency (CRA) that you don't want, because ...

26 U.S. Code § 269A - Personal service corporations formed or ...


substantially all of the services of a personal service corporation are ... All related persons (within the meaning of section 144(a)(3)) shall be treated as 1 entity.

Personal Service Corporations - thisMatter.com


Mar 18, 2016 ... The characteristics of a qualified personal service corporation (QPSC), ... A corporation is defined by the state and in the late 1960s and early ...

Personal-Service Corporation
A corporation that is created for the purpose of providing personal services to individuals or groups. To be considered a personal-service corporation by the IRS, the employee-owners must perform at least 20% of the personal services themselves. The... More »
What Is a Personal Service Corporation?
The IRS defines a personal service corporation as a company whose main work is to offer personal services to its clients. This includes services such as accounting, consulting, health, law, architecture, engineering and the performing arts. To qualify... More »
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