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).
DEFINITION of 'Personal-Service Corporation'. A corporation that is created for the purpose of providing personal services to individuals or groups.
DEFINITION of 'Personal-Service Activity'. Any business ... A corporation that is created for the purpose of providing personal services to individuals or groups.
The characteristics of a qualified personal service corporation (QPSC), ... A corporation is defined by the state and in the late 1960s and early 1970s, some ...
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 ...
A personal service corporation (PSC) generally is a corporation whose principal ... Although the above definition of a PSC is fairly straightforward, Congress has ...
Aug 13, 2016 ... The differences, advantages and disadvantages of a professional corporation vs. a personal services corporation are discussed.
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.
As discussed below, all definitions in the Internal Revenue Code or regulations that use the term personal service corporation refer to this provision. All statutory ...