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Kent Foltz   wrote on : Sun Feb 28th,2010   Back to Article

Your information indicates a primary disadvantage of a prof. corp. is the potential for double taxation. However, is is my understanding a professional corporation can elect S corp. status. Accordingly, would not S corp. status negate the double taxation ? Also, if S corp. status were elected by a professional corp. that was formed and operated in CA, would that corp. be taxed as an S corp. in CA ?

Reply :
Dear Kent Foltz: Thanks for choosing for your business needs. Yes, A professional corporation is eligible for an S-Corporation and can be avoided for double taxation in most states. But in some states no. It will be considered a pass through entity but can not be avoided double taxation like in the state of California.

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