California Business and Professions Code 5155 – The income of an accountancy corporation attributable to professional …
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The income of an accountancy corporation attributable to professional services rendered while a shareholder is a disqualified person (as defined in the Moscone-Knox Professional Corporation Act) shall not in any manner accrue to the benefit of such shareholder or his shares in the accountancy corporation.
(Added by Stats. 1970, Ch. 1113.)
Terms Used In California Business and Professions Code 5155
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.