what does a p.c. lawyer mean

What does PC stand for in law firm?

PC stands for "professional corporation." Like limited liability companies, corporations and other business structures, professional corporations are legally recognized business entities in some states. Structure The professional corporation is a business structure specifically allowed for in some state statutes.

What is a professional corporation in law?

An abbreviation for professional corporation, which is a special corporation established by professionals, such as physicians, accountants, or, in some states, attorneys, who practice together. In most jurisdictions, a professional corporation may be organized by professionals who render a personal service to the public that requires a license and ...

What does PLLC mean in a law firm name?

Jul 16, 2021 · Professional Corporations (PCs), also known as professional service corporations, were created to allow certain kinds of professionals such as physicians, lawyers, accountants, or engineers to do business together. PCs might show up as S-corporations, C-corporations, or LLCs on their tax forms.

What is a PCS (professional corporation)?

Mar 30, 2020 · A professional corporation, abbreviated as "PC" after a company’s name, is a type of corporation often seen in professions where highly educated people provide services to those who need their expertise, such as accountants, lawyers, doctors, architects, consultants and other professionals. They are often entrepreneurs who have joined in business with others in the …

What does PC stand for in law firm?

professional corporationA professional corporation is organized under the laws of the state in which it is formed. Unlike a regular corporation, a PC for lawyers requires that each director, shareholder and officer be licensed to practice law.Sep 26, 2018

What does PC stand for in court?

Penal CodePC and CPC are abbreviations for “Penal Code.” California's Penal Code is a collection of statutes that set forth the state's laws on most criminal offenses.Dec 9, 2020

What does PC mean in criminal justice?

“Reasonable articulable suspicion” (RAS) and “probable cause” (PC) are two of the most important concepts in criminal work. However, reading those two phrases does not provide much information about what they mean, how they work, or when they apply.

What does the title PC mean?

"PC" after a company's name stands for "professional corporation," a type of corporation used by professionals such as lawyers, accountants and doctors because of the limited liability and tax advantages it provides.Mar 30, 2020

What is a business attorney?

A business attorney can also answer many of the questions you may have about setup and liability for business in your area. They can also make any requirements from a board of directors to stock shares and more.

Who are the health care professionals?

health care professionals (audiologists, dentists, nurses, opticians, optometrists, pharmacists, physical therapists, physicians, and speech pathologists) Of course, this is a general list. For a more precise list of professional corporation owners and more, it’s best to look at your state.

Who is Shaheen Manshoory?

Manshoory is a trial attorney specializing in criminal defense law, specifically litigation of complex criminal matters in state, federal, and juvenile courts, including the defense of professionals, corporations, and high-profile matters. A graduate of SCALE, a two-year, fully accredited, Juris Doctor program at Southwestern School of Law, Mr. Manshoory focused on integrating substa...

What does PC stand for in business?

"PC" after a company's name stands for "professional corporation," a type of corporation used by professionals such as lawyers, accountants and doctors because of the limited liability and tax advantages it provides.

What is a PC?

A professional corporation, abbreviated as "PC" after a company’s name, is a type of corporation often seen in professions where highly educated people provide services to those who need their expertise, such as accountants, lawyers, doctors, architects, consultants and other professionals. They are often entrepreneurs who have joined in business ...

How are PCs taxed?

PCs are taxed in a way that comes with both advantages and disadvantages. For example, PC employees have higher contribution limits on retirement plans. PCs can provide health and life insurance benefits tax free and can receive deductions for additional benefits like disability insurance.

Who is Barbara Bean Mellinger?

Barbara Bean-Mellinger is a freelance writer who lives in the Washington, D.C. area. She has written on business topics for afkinsider.com, smallbusiness.chron.com, Harbor Style Magazine, the Charlotte Sun and more, as well as advertising copy and materials.

Is a partnership a partnership?

In a partnership, all partners are liable for the actions of the other partners. This is why professionals often find a professional corporation more advantageous since they are held liable only for their own actions. A limited liability company is like a partnership but with more limited liability.

What is a PC company?

Many people see "PC" after a group of lawyers’ names, and therefore they assume a PC company is a legal term or is related to lawyers.

What is professional corporation?

It is a legal term in the sense that a professional corporation is a legal entity that provides professionals with certain tax and legal advantages. However, professional corporations are not only for lawyers; PCs benefit many types of professionals by giving them legal protections and tax advantages. 00:00. 00:02 09:16.

What is the difference between a PC and an LLC?

There's a huge tax difference between a PC and a LLP or an LLC. A professional corporation is a business entity that must pay income taxes for the corporation itself, which may result in double taxation. However, with an LLP or LLC, the member pays individual taxes, not the entity itself.

What is professional corporation?

A professional corporation is a product of state laws which provide detailed provisions on what the corporation can and cannot do. A corporation should have its own set of by-laws and agreements that dictate the responsibilities and conduct of the corporation, its directors, and shareholders.

What is a PC in business?

A PC is much more formal, as operating decisions often require director approval and votes of shareholders. As with any corporation, you must hold shareholder and director meetings, keep records and minute books.

What happens if there is no written agreement?

So, if there is no written agreement or the agreement doesn't address particular issues, the LLP or LLC will be subject to the gap-filling provisions in their states' business code.

Can a lawyer form a limited liability company in California?

Unlike other states, California does not allow lawyers to form a limited liability company. Instead, California allows for the use of a professional limited liability partnership (LLP). Every other state allows for the formation of an LLC or a professional limited liability company (PLLC) for law firms.

What does J.D. stand for in law?

Each designates a degree the attorney earned. The following are the most common lawyer initials: J.D. J.D. stands for "juris doctor” and is the degree received when an attorney graduates from law school.

What does "esq" mean in law?

If you want to practice law, you'll need to be licensed. Getting licensed earns you the lawyer abbreviation of Esq., which stands for Esquire . There are a variety of other career options available to those who earn a J.D.

What is LL.M. law?

It's a graduate degree and is required to practice law in the United States. LL.M. The Master of Laws (LL.M.) degree is available to people who already have a J.D. It provides advanced legal study and certification in a specific area of law, such as international law, human rights law or intellectual property law.

What is a J.S.D.?

A Doctor of the Science of Law (J.S.D. or S.J.D.) is the equivalent of a Ph.D. in law. Attorneys who get these lawyer initials generally become scholars or teachers of law and social sciences. This is a very specialized degree that's selectively awarded. LL.B.

What is a PLLC?

The purpose of organizing a company as a PLLC -- or as a regular LLC -- is to shield the owners from being held personally responsible for the debts of the business. In sole proprietorships and general partnerships, the owners have unlimited liability, meaning that if the business doesn't pay its debts, ...

What is a PLLC in Arizona?

When a law firm or other business registers itself as a PLLC with the state, the organizers of the company must be licensed professionals. Rules vary by state, but typically, the majority of ownership in any PLLC must be held by licensed professionals. In Arizona, for example, unlicensed professionals can own no more than a combined 49 percent of the voting interest in a PLLC.

Who is Cam Merritt?

Cam Merritt is a writer and editor specializing in business, personal finance and home design. He has contributed to USA Today, The Des Moines Register and Better Homes and Gardens"publications. Merritt has a journalism degree from Drake University and is pursuing an MBA from the University of Iowa. Image Credit.

Can a PLLC refuse to pay damages?

In other words, a lawyer operating in a PLLC can't refuse to pay damages in a malpractice lawsuit on the grounds that liability for the malpractice rests with the PLLC, not the individual professionals.

Can a licensed professional form an LLC?

According to the legal information site Nolo, most states don't allow licensed professionals to form regular LLCs, which is why they devised the PLLC structure. Others, such as Arizona, allow professionals to form regular LLCs unless specifically prohibited from doing so by the licensing board.