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One of the exceptions to the 10 million threshold is if the corporation is considered a qualified personal service corporation. You mentioned that this is a health care company.
To be a "personal service corporation" you must pass two tests:
1. Substantially all of the stock must be owned by employees, and
2. 95% of employees time must be spent on performing personal services in the fields of health, law, engineering, architecture, accounting, actuarial science, performing arts or consulting.
You can still be a S-Corporation.
If is was a C-Corporation the net income would be taxed at a rate of 35%.
It is addressed in https://www.law.cornell.edu/uscode/text/26/448 (IRC 448 (b)(2))
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