(C) DISQUALIFIED S CORPORATION- For purposes of this subsection, the term ‘disqualified S corporation’ means-- ...... (ii) any other S corporation which is enga

(C) DISQUALIFIED S CORPORATION- For purposes of this subsection, the term ‘disqualified S corporation’ means-- ...... (ii) any other S corporation which is engaged in a professional service business if the principal asset of such business is the reputation and skill of 3 or fewer employees. This phrasing, quoted from the bill, seems open to lots of interpretation. My business sells advertising on websites I've created. Is the principal asset of my business my personal "reputation and skill" or is the principal asset the websites themselves (which required my skill to build, but are distinct from the skills themselves)? I'd argue that my business (and others like it, which I'm sure there are many here) doesn't fall under that description since (1) the principal asset is the website, not me personally, and (2) even if my skill is the business's principal asset, my personal reputation certainly is not, and the bill stipulates "reputation and skill", not "reputation or skill".