In re Regan & Regan, P. C.

Mikoll, J. P.

Appeal from a decision of the Unemployment Insurance Appeal Board, filed July 30, 1997, which assessed Regan & Regan, *830P. C. for additional unemployment insurance contributions based upon the earnings of its corporate officers for the audit period from July 1, 1992 through December 31, 1994.

Regan & Regan, P. C. (hereinafter R & R) is a professional service corporation engaged in the practice of law. For Federal income tax purposes, it is a subchapter S corporation, closely held by two shareholders who are partners in the law firm. One shareholder serves as the corporation’s…