professional corporation


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professional corporation

n. a corporation formed for the purpose of conducting a profession which requires a license to practice, including attorneys, physicians, dentists, certified public accountants, architects, and real estate brokers. Most states provide for such corporations under special statutes which allow the corporation to operate with a single director, who is a professional. However, unlike other corporations, the organization does not provide a shield for liability for any professional negligence (malpractice) by the licensed professionals. (See: corporation)

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1, New Hampshire will join over two dozen other states in permitting business and professional corporations to be formed as "benefit corporations"--a hybrid form of corporate entity that allows a for-profit corporation to pursue social responsibility as one of its stated business purposes.
For example, a hypothetical professional corporation merging into a partnership may possess certain hard assets like computers and other equipment--with an actual FMV very close to the adjusted basis (e.
The bankruptcy court held that, as a self-employed owner of the professional corporation that sponsored the pension plan, Y could not "participate as an employee under ERISA and .
The IGWW is a for-profit, taxable professional corporation.
POLACK DENTISTRY PROFESSIONAL CORPORATION 03-28 SUDBURY
The concepts of built-in gain recognized and built-in loss recognized during the year are areas that can create significant problems for a cash-basis professional corporation electing S status.
The International Association of Gaming Attorneys (IAGA) is a nonprofit professional corporation dedicated to the study and development of gaming law.
Piven / Brower Piven, A Professional Corporation 1925 Old Valley Road / Stevenson, Maryland 21153 Telephone: 410-415-6616 / hoffman@browerpiven.
Mangatal Medicine Professional Corporation 03-14 Thunder Bay
The tax adviser should then determine if Bill would be considered related to either of the corporations: Carl's 100% interest in the professional corporation would be attributed to his wife (Bill's daughter).
13, 2015 /PRNewswire/ -- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Meredith Corporation (NYSE: MDP) ("Meredith" or the "Company") relating to the proposed buyout of the Company by Media General, Inc.

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