What type of corporation is a professional corporation?

Most professional corporations are classified as "personal service corporations" by the IRS and must file a professional corporation tax return. As of 2018, all professional corporations pay a flat tax rate of 21%.

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New Hampshire Articles of Incorporation for Domestic Professional...

New Hampshire Articles of Incorporation for Domestic Professional Corporation

Name: New Hampshire Articles of Incorporation for Domestic Professional Corporation
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.72 (285 reviews)

Category:

New Hampshire Corporations - Professional - Articles of Incorporation

State:

New Hampshire

Control #:

NH-00INCP

Format:

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Description New Hampshire Incorporation

This state-specific form must be filed with the appropriate state agency in compliance with state law in order to create a new professional corporation. The form contains basic information concerning the professional corporation, normally including the corporate name, number of shares to be issued, names of the incorporators, directors and/or officers, purpose of the corporation, corporate address, registered agent, and related information.

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FAQ

While some states allow professionals to form an LLC, others require that professionals form a professional limited liability company (PLLC) as set out by state statutes.Unlike corporations, LLCs do not have to abide by shareholders' directives or hold annual meetings.

A professional corporation is a variation of the corporate form available to entrepreneurs who provide professional servicessuch as doctors, lawyers, accountants, consultants, and architects.In a professional corporation, the owners perform services for the business as employees.

Regarding the management flexibility and taxation, a PLLC has the same advantages of an LLC. The difference between the two is that the PLLC has some restrictions on who may be a member of the PLLC and the limitation of liability of the members. With an LLC, anyone can be a member, or owner, of the business.

Professional corporations or professional service corporation (abbreviated as PC or PSC) are those corporate entities for which many corporation statutes make special provision, regulating the use of the corporate form by licensed professionals such as attorneys, architects, engineers, public accountants and physicians

Most professional corporations are classified as "personal service corporations" by the IRS and must file a professional corporation tax return. As of 2018, all professional corporations pay a flat tax rate of 21%.

Professional LLCs PLLCs offer the same benefits as LLCs. The main difference between a LLC and a PLLC is that only professionals recognized in a state through licensing, such as architects, medical practitioners and lawyers, can form PLLCs.

"Domestic professional corporation" means a corporation organized under ORS chapter 58 for the purpose of rendering professional services and for the purposes provided under ORS chapter 58.

A Professional Limited Liability Company, or PLLC, is a special type of LLC that's designed for licensed professionals, such as accountants, lawyers, and doctors. Typically, professions that require a license.Instead, they allow professionals to form an LLC.

New Hampshire Articles of Incorporation for Domestic Professional Corporation

Description New Hampshire Incorporation

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FAQ

Is a professional corporation an LLC?

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What kind of corporation is a professional corporation?

What type of corporation is a professional corporation?

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What is a domestic professional corporation?

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What qualifies as a professional corporation?

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