What kind of business entities can provide professional services?
Some professionals practice their profession as individual licensed practitioners. Others practice in some sort of corporate or business entity structure. Not all such structures may legally provide professional services. The following brief descriptions are based in law and address different corporate practice venues. These descriptions provide basic information on acceptable organizational structures for professionals. This general information is no substitute for consulting the law and/or an attorney directly for guidance before deciding to practice in a specific corporate arrangement. There are many factors, including tax consequences, and personal and professional liability, to consider when deciding which form a professional practice should take. • Professional service corporations (PSC) authorized under Article 15 (domestic – New York) of the New York State Business Corporation Law.
