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Contributions to the fund must include "[t]hirty percent of total revenue derived from taxes on oil and gas production or extraction." The fund was established by ballot initiative in 2010. The fund is modeled after the Norwegian Sovereign Wealth Fund. As of June 30, 2023, the fund is valued at $8.999 billion.
The major difference between a traditional corporation and PC is that a PC is designed to protect licensed professionals and their personal assets. Licensed professionals may incorporate as a PC, as long as they meet the entity's specific requirements.
The North Dakota Industrial Commission is the body that oversees the management of several separate programs and resources, including the Bank of North Dakota, North Dakota Mill and Elevator, and the Department of Mineral Resources.
One of the key differences between a corporation and a professional corporation is that the shareholders of a professional corporation must be licensed professionals who are authorized to provide professional services in their respective fields. This requirement does not apply to a regular corporation.
The Industrial Commission Administrative Office as of June 30, 2021 has three full-time employees?the Executive Director and Secretary, Karlene Fine, the Deputy Executive Director, Reice Haase, and Administrative Assistant II, Andrea Rebsom.
The professional corporation or PLLC's sole purpose must be to provide the services of the licensed professionals, such as providing legal or medical services. In addition to the standard state-naming requirements, the name must clearly indicate that it is a professional corporation or PLLC.
The difference between LLC and PC is straightforward. A limited liability company (LLC) combines the tax benefits of a partnership and the limited liability protection of a corporation. A professional corporation (PC) is organized ing to the laws of the state where the professional is licensed to practice.
A professional corporation may render: One specific type of professional service and services ancillary thereto; or. Two or more kinds of professional services that are specifically authorized to be practiced in combination under North Dakota's licensing laws of each of the professional services to be rendered.