Are the partners of C Corp /S Corp/Professional Corp personally liable?

practice management
1

Hi PCM group,

Just wondering whether the partners of those corporations (C Corp, S Corp, Professional Corp) are personally liable?

Thanks!

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2

Hi @whuang ! Let’s see if one of our experts can answer this question. @heatherrivera do you mind jumping in?

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Hi whuang, this is Haifeng. Please check the column called liability protects for personal assets at Table 5.1 summary of legal structure on page 202 of Architect Handbook of Professional Practice. It should be able to answer your question. Best, HL @whuang

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@hliu18 Thanks for pointing us here! @whuang If you don’t have this supplemental resource which will answer your questions, here’s a quick answer:

C Corp, S Corps, and Professional Corps all have similar liability structures. The partners may be held liable for their own negligence, but are typically covered for most other claims.

I hope that helps. Thanks again, Haifeng!

Kind regards,
Heather

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