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 performing personal services (defined later).
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.
Jan 2, 2017 ... The characteristics of a qualified personal service corporation (QPSC), ... A corporation is defined by the state and in the late 1960s and early ...
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 ...
DEFINITION of 'Personal-Service Corporation'. A corporation that is created for the purpose of providing personal services to individuals or groups.
Jun 21, 2016 ... If you are operating a personal service corporation, electing S corporation ... actuarial science, performing arts, or consulting (as defined in Reg ...
Feb 24, 2017 ... Canadian corporation? Less than 5 employees? Then you need to know the definition of a Personal Services Business and the tax effect of ...
of ownership by an employee whatsoever, the definition of PSC II will not .... the “ qualified personal service corporation,” there is no ownership aspect.