what does pc stand for after lawyer name

What does PC mean in law?

In some states, it isn't uncommon to see the name of a law firm or attorney's office with the letters "PC" after it. 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

What does PC mean in legal terms?

Mar 28, 2014 · What does the letters PC stand for after and attorneys name? PC stands for Professional Corporation or Professional Company.

What does PC stand for after an attorney name?

Mar 30, 2020 · The letters "PC" after the name of a lawyer or other professional stands for "professional corporation." It's a type of legal entity used by accountants, doctors, lawyers, architects and others who provide expertise. Being a PC limits liability to being responsible only for their own actions.

What does attorney PC mean?

A professional corporation or PC is one variation of a corporation. Licensed professionals who want to incorporate their practice can form a PC. However, the shareholders, directors, and officers must belong to the same profession.

What does PC mean in a title?

Why do some lawyers have PC after their name?

What does PC mean in court?

What does PC stand for after someone's name?

What is the difference between PC and LLC?

What does Esq stand for in law?

What does the charge PC mean?

What does PC mean after CPA?

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 ...

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.

Does PC cover all liability?

Designed specifically to give some protection from liability to professionals such as doctors, lawyers, architects and others, "PC" does not excuse all liability — it still holds professionals accountable for their own actions.

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.

What is a limited liability company?

A limited liability company is like a partnership but with more limited liability. One advantage to professionals is that LLC members (as the LLC participants are called) can consist of different types of entities, such as individuals and corporations.

What is a professional corporation?

A professional corporation or PC is one variation of a corporation. Licensed professionals who want to incorporate their practice can form a PC. However, the shareholders, directors, and officers must belong to the same profession.

What is a licensed professional in California?

In California, licensed professionals are limited to forming a sole proprietorship, general partnership, or professional corporation (PC). One advantage of an LLC is that each owner—also called a member—has limited liability, which means they are not personally liable for the financial obligations of the LLC.

What is the advantage of an LLC?

One advantage of an LLC is that each owner—also called a member—has limited liability, which means they are not personally liable for the financial obligations of the LLC. Unlike corporations, LLCs do not have to abide by shareholders' directives or hold annual meetings.

Do LLCs have to pay state taxes?

LLCs are not required to pay state taxes in most states—again, check your state statutes. The owner pays state taxes on their personal tax return. A few states require LLCs to also pay state taxes. In addition, some states impose a fee, often called an annual registration fee, franchise tax, or renewal fee.

Why is it important to choose the right business structure?

It's important to choose the right business structure to protect your business from unforeseen legal and tax consequences. When choosing between an LLC and a PC, check the state statutes to make sure the legal entity can operate in your state.

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.

Tax Breaks

Structuring your business as a PC once meant you had more tax flexibility than many other types of corporations. The Internal Revenue Service changed that in 1986, classifying all PCs as professional service corporations and charging them a flat 35 percent tax rate.

Limited Liability

The main reason to set up your business as a PC is to limit your personal liability from lawsuits and business debts. This doesn't protect you from every financial responsibility, but it helps.

Eligibility

In general, most states allow professions that require licenses to set up PCs. This typically includes doctors, veterinarians, chiropractors, dentists, attorneys, architects and accountants. At least one shareholder must be licensed in the state, although not all the shareholders need to be.

Similar Corporation Classifications

Many states offer a couple of incorporation options to licensed professionals. Professional limited liability corporations, or PLLCs, provide similar liability protection as PCs, but the incorporating parties are called members instead of shareholders.

What does "lawyer" mean?

A lawyer or attorney is a person who practices law, represents individuals, and provides legal advice to others. Lawyers, just like professionals in other fields, use a lawyer title after their name to indicate to the world that they are “lawyers” ...

What is a title lawyer?

On the other hand, a “title lawyer” is a lawyer or legal professional specialized in verifying property titles. For example, if you are in a real estate transaction, a title lawyer or real estate attorney will ensure that the seller has the legal title to a property, land, or other real estate property to convey to the buyer.

What does J.D. stand for?

J.D. is the abbreviation for “ Juris Doctor ”. J.D. is a title given to a lawyer when he or she earns a bachelor’s degree from law school. Even though the name says Juris “Doctor”, this is not a graduate degree or a doctorate. It’s essentially an undergraduate law degree.

What does esquire mean?

Esquire or Esq is used in some jurisdictions to refer to a “practicing lawyer” or an individual licensed to practice law. Some civil law jurisdictions use the honorary title “Maître” or “Me” for short in their name to indicate they are practicing lawyers.

What is a J.S.D.?

J.S.D. is the equivalent of a Ph.D. earned in other fields when a person obtains a doctorate-level degree. You can also refer to this as S.J.D. referring to Scientiae Juridicae Doctor in Latin. Generally, a person looking to teach law or work in the legal “academics” will earn a J.S.D title.

What does P.A. stand for?

P.A. stands for “Professional Association” which is a type of business entity which can only be created by people in certain professions (most commonly lawyers).

What is a PA in law?

The “PA” is similar to a corporation. Other professionals, like real estate agents, doctors, and architects, can also organize their business entity as a PA. Professional Association. Some US states permit lawyers to organize their incidental business activities behind a personal liability shield.

What does PA mean in business?

PA = PC [Professional Corporation] in all practical respects. However, the PA will lack formal organizational documents for “a corporation” and the PA will likely have to publish the banns at the time of its formation - as do LLCs. To publish the banns [which. Continue Reading.

What does esq mean in law?

In the USA, lawyers use Esq., meaning “esquire, ” to indicate their status. As a social matter, though, the circumstances in which a lawyer can use Esq. as a postnominal are fairly constrained. Declaring yourself an attorney in this way is considered gauche in almost all cases.

What is a professional association?

Professional Associations are a form of business entity that is available in some states for a business that primarily engages in a professional service. The “PA” is similar to a corporation. Other professionals, like real estate agents, doctors, and architects, can also organize their business entity as a PA.

What's the Definition of J.D. (Juris Doctor)?

"J.D." stands for Juris Doctor -- also known as a law degree. You may encounter the term "J.D." after someone's name in a resume, CV, or in an academic paper.

What's the Definition of Esq. (Esquire)?

"Esq." or "Esquire" is an honorary title that is placed after a practicing lawyer's name. Practicing lawyers are those who have passed a state's (or Washington, D.C.'s) bar exam and have been licensed by that jurisdiction's bar association.