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Corporate Records Maintenance Package for Existing Corporations South Carolina  Form

Corporate Records Maintenance Package for Existing Corporations South Carolina Form

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a professional Service Corporation could cover a myriad of professions attorney accountant a dentist an architect an engineering firm so it there are a lot of companies that do operate as psc's there are some unique tax rules for them psc's are essentially C corporations regular corporations but as a PSC you have a flat tax the highest corporate tax rate on whatever the profits are that you have not taken out as salar so the net profits after salary are subject to the highest corporate tax rate there are some other tax rules that are unique to a PSC so before you operate in this type of entity you want to run this by your legal and tax advisors typically in a PSC you try to zero out the profits by Distributing the income as salary and taxable compensation so you don't have that exposure to the top tax rate but sometimes you want to operate as a C corporation because it offers certain Fringe benefit opportunities and perhaps certain outside financing opportunitie

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