A corporation formed by a doctor for the sole purpose of providing his services for which he is licensed is called a(n) _____.

Question

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A professional service corporation is specifically designed for professionals who provide services that require a license, such as doctors, lawyers, and accountants. The purpose of this type of corporation is to provide liability protection for the individual professionals while allowing them to operate under a corporate structure. Nonprofit corporations are formed for charitable or social welfare purposes, while S and C corporations are generally formed for business purposes.

A Corporation Formed by a Doctor for the Sole Purpose