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In United States tax law, a corporation is a personal service corporation if it meets all of the following requirements: 1. Its principal activity during the “testing period” is performing personal services (defined later). Generally, the testing period for any tax year is the prior tax year. If the corporation has just been formed, the ...
v. t. e. A loan-out corporation, also known as a loan-out company, or personal service corporation, is a form of US business entity in which the creator is an 'employee' whose services are loaned out by the corporate body. The creator of the corporation is typically the sole shareholder, [1] and thus the corporation is used as a means to reduce ...
Personal service is service of process directly to a party named on the summons, complaint, or petition. In most lawsuits in the United States, personal service is required to prove service. [citation needed] Most states allow substituted service in almost all lawsuits unless a corporation, LLC, LLP, or other business entity is being served; in ...
Service of process in Virginia. Service of process in Virginia encompasses the set of rules indicating how a party to a lawsuit must be given service of process in the state of Virginia, in order for the judiciary of Virginia to have jurisdiction over that party. In the Virginia General District Court, the summons is referred to as either a ...
Corporate personhood. Corporate personhood or juridical personality is the legal notion that a juridical person such as a corporation, separately from its associated human beings (like owners, managers, or employees), has at least some of the legal rights and responsibilities enjoyed by natural persons. In most countries, a corporation has the ...
Minimum contacts is a term used in the United States law of civil procedure to determine when it is appropriate for a court in one state to assert personal jurisdiction over a defendant from another state. The United States Supreme Court has decided a number of cases that have established and refined the principle that it is unfair for a court ...
Professional corporation. Professional corporations or professional service corporations (abbreviated as PC or PSC) are those corporate entities for which many corporation statutes make special provision, regulating the use of the corporate form by licensed professionals such as attorneys, architects, engineers, public accountants and physicians.
The Delaware General Corporation Law (Title 8, Chapter 1 of the Delaware Code) is the statute of the Delaware Code that governs corporate law in the U.S. state of Delaware. [1] The statute was adopted in 1899. Since then, Delaware has become the most prevalent jurisdiction in United States corporate law. Delaware is considered a corporate haven ...