Can someone explain what the benefit of being at a firm that’s a corporation and has members instead of partners? Is there any benefit or is it just semantics?

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[Biglaw/Large law firm specific] Sometimes firms have it as a carryover before the firm became an LLP and more senior partners keep the PC designation.

My understanding is it requires more corporate formalities to be kept, but generally it helps the following:

1. Fewer taxes at the firm level when operating in states with income tax.
2. S-Corp tax pass-through means you don’t have to pay self-employment tax for FICA/SS.
3. Easily to take clients with you since your engagement letter indicates your personal corp. as the entity vs the firm.

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WSGR is like that and a friend once indicated that they don’t have a but in. I don’t know for sure though, comment was made in passing

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