"Personal Service Corporation Tax Status"

The tax status of a C-Corporation or Taxable LLC which provides consulting or personal services. A company with this tax status must pay the top Corporation tax rate on its taxable income. (The graduated corporate tax rate starting at 15% can be used if at least 6% of the stock in the Corporation or units in the taxable-LLC are given to a person not employed by the Corporation or Taxable-LLC.

Depository glossary and terms by letter

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