Professional Corporation vs S-Corp

[effe_emme]

Is there distinction between a Professional Corporation and a general Corporation (S-Corp or C-Corp)?

I'm a bit confused as how this distinction would relate to the naming of the entity: specifically, could a sole practitioner who forms an S-Corp name the corporation without including his/her name, or "architect", "architecture" etc... which are restrictions on Professional Corporations?

Any clarification on this would be appreciated.

Thanks

[Ridhs68]

Yes there is. Professional Corporations aren't allowed in all states, limited to professional occupations such as architects, lawyers, physicians, etc, has naming restrictions, and provides different level of liability protection.

S-Corps are allowed in all states, anyone can start one, there are no naming restrictions, and offers same liability protection as LLC.

The big difference between a PC and S-Corp is the way they are taxed.In a PC the corporation and shareholders are both taxed individually. In a S-Corp the business isn't taxed itself, the shareholders are and the profits and losses are passed on to the shareholders.

[effe_emme]

thank you Ridhs68 - much appreciated

[hnQ_9999]

this question sent me to the library. And under CA business and professional codes, under architect/architecture index there are nothing about S or C corporation. Ducette also made a long conversation in his audio about LLC, which not even listed in the law books, under Architecture.