A corporation formed under provincial law that allows a licensed pharmacist to carry on the practice of pharmacy while maintaining limited liability and access to corporate tax advantages. The PPC conducts the active pharmacy operations and, if purified, can be eligible for the small-business deduction and for the Lifetime Capital Gains Exemption on a sale of its shares.
Provincial Colleges of Pharmacists restrict ownership of the PPC: in most provinces, voting shares may be held only by licensed pharmacists, while non-pharmacist family members or a family trust may hold non-voting shares. A PPC is frequently owned in turn by a Holding Company that isolates passive assets and surplus cash.