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How Do I Form a Personal Service Corporation?

How Do I Form a Personal Service Corporation?

As the owner of a business, you need to know what type of business you have and whether you should form a personal service corporation or other type of corporation. Learning exactly what businesses fall under this category and how to file is important to make sure you take the proper steps for your business to thrive. Here are a few things you should know about obtaining a federal tax id number and what a personal service corporation is.

What is a Personal Service Corporation and How Do I Form It?

This is a business in which the owners of the company actually provide services for the company itself. These industries include the healthcare industry, accounting type services, performing arts services, and architecture just to name a few. If you provide services for your company and it receives tax benefits as well, then you it is considered a personal service.

To form this corporation, you must file the articles of incorporation with your state just as any other business/corporation would file. Once those are taken care of, you can file for the personal service corporation tax id number as well.

IRS-EIN Easy to Use

The IRS site will only allow you to file for this number in certain hours during the day and they are also shut down on the weekends. However, you may need to file for the number on your time frame and that’s exactly what the IRS EIN website allows you to do. With highly trained and experienced tax professionals at the ready, you can securely fill out an online application to obtain your EIN number for your personal service corporation. In most situations, the number will be back to you before the end of the day when you applied. However, some assignments do take up to two weeks.

Be sure to ask your tax professional any questions you may have and remember to file for your EIN in a timely manner.

 

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