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Professional service organizations traditionally have elected a pass thru entity status (S Corp., LLC, LLP, partnership) in order to reduce double taxation at the principal's level. Similar additional taxation may occur with C Corps. and accumulated earnings tax as well as other confiscatory grabs. These issues create an impediment for the current accumulation of funds to satisfy a principal's buyout in future years.
The most senior principals do not have the security of knowing the money will be there for their buyout in the future ' and they are not happy.
The junior principals and associates see the buyout money as having to come from future earnings that will be due to their hard work after the senior principals are no longer generating revenue ' and they are not happy.
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