Dentist "P.C."

[54807]

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Hello:

So I was driving around town and a dentists office was "Dr. XXXXX P.C.". What is the P.C. part? Further dental training? Is it some type of classification like L.L.C for a business? Ive done lots of google searches and as expected, all I get is computer stuff when I search for it.

Thanks!

 

[Frank Cavitation]

professional corporation?

 

[HermieDDS]

Hello:

So I was driving around town and a dentists office was "Dr. XXXXX P.C.". What is the P.C. part? Further dental training? Is it some type of classification like L.L.C for a business? Ive done lots of google searches and as expected, all I get is computer stuff when I search for it.

Thanks!

It stands for private corporation.

 

[mr_gestapito]

It stands for private corporation.

It actually is professional corporation, someday your acountant can advise you as to the differnt advantages/disadvantages of PC's, LLC's (limited liability corp), etc...

 

[54807]

It actually is professional corporation, someday your acountant can advise you as to the differnt advantages/disadvantages of PC's, LLC's (limited liability corp), etc...

Thanks!! I found this on the internet after searching "Professional Corporation"....for those who want some more basic info.

"
A legal structure authorized by state law for a fairly narrow list of licensed professions, including lawyers, doctors, accountants, many types of higher-level health providers and often architects. Unlike a regular corporation, a professional corporation does not absolve a professional for personal liability for her own negligence or malpractice. The main reason why groups of professions choose this organizational structure is that, unlike a general partnership, owners are not personally liable for the malpractice of other owners. In some states, limited liability partnerships offer this same benefit and may be more desirable for other reasons.
"

 

[INFNITE]

just wondering, do PC's offer more liability protection over LLC? Also, are PC's taxed as a separate entity?

 

[FlossY]

Alot of the Dentist in my area are under "P.S.C." is that basically the same thing?

 

[Perklunk]

Why would you want a PC vs. something like an incorporation which would take all the liability?

 

[Frank Cavitation]

Alot of the Dentist in my area are under "P.S.C." is that basically the same thing?

same thing... personal service corporation

found an informative FAQ here
http://earthlink.bizfilings.com/learning/proffaq.htm

 

[Frank Cavitation]

Why would you want a PC vs. something like an incorporation which would take all the liability?

It appears professionals can't form the type of corporation where the individual is completely free from liability. Even in the case of limited liability, it only means the partners are not liable. The system is set up so that we take responsibility for our treatment, because our a$$ is on the line 🙂

 

[groundhog]

It appears professionals can't form the type of corporation where the individual is completely free from liability. Even in the case of limited liability, it only means the partners are not liable. The system is set up so that we take responsibility for our treatment, because our a$$ is on the line 🙂

Actually, the LLC provides its membes the liability advantages of a corporation and the tax/income/asset accounting advantages of a partnership.

 

[Frank Cavitation]

My apologies for the misinformation.. I think I was describing some sort of LLP instead. A better reason why some choose PC instead of LLC is for tax purposes.

http://www.roninsoft.com/llc.htm

This site has some useful info about all of that.