Provided by Business Filings Incorporated Professional Corporation and Professional Limited Liability Company Basics Professional corporations (PCs) and professional limited liability companies (PLLCs) are corporations and limited liability companies organized for the purpose of providing professional services. What services constitute professional services are defined by state law. Typically professions that require a license, such as doctors, [...]
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A nonprofit corporation is a corporation that is formed for purposes other than generating profit. Nonprofit corporations are formed pursuant to different state law than standard for-profit corporations. There are many types of nonprofits, such as churches or church associations, charities, schools, medical providers, legal aid societies, volunteer services organizations, professional associations, research institutes, museums, [...]
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I love S corporations. I really do. And the reason is simple: An S corporation often saves small business owners substantial payroll and corporation income taxes. Unfortunately, an S corporation disadvantages its owners with several problems (as explained in the following paragraphs) and smart business owners and entrepreneurs will consider these drawbacks before setting up [...]
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