personal service corporation

personal service corporation definition - business

personal service corporation

A regular corporation whose principal activity is performing personal services (consulting, health care, law, accounting), primarily by the employee-owners. Personal service corporations are taxed at a flat rate of 35% rather than a series of graduated rates as applied to most corporations.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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