What is the purpose of a professional corporation?

Professional corporations provide a limit on the owners' personal liability for business debts and claims. Incorporating can't protect a professional against liability for his or her negligence or malpractice, but it can protect against liability for the negligence or malpractice of an associate.

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Organizational Minutes for a Florida Professional Corporation

Hialeah Organizational Minutes for a Florida Professional Corporation

Name: Hialeah Organizational Minutes for a Florida Professional Corporation
Brand: US Legal Forms
Rating: 4.77 (377 reviews)

Category:

Florida Corporations - Professional - Organizational Minutes

State:

Florida

City:

Hialeah

Control #:

FL-PC-OM

Format:

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Description

Organizational Minutes document the activities associated with the creation of the professional corporation.

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FAQ

In Florida, professional corporations are governed by the Florida Professional Service Corporations and Limited Liability Companies Law (Title XXXVI, Chapter 621, Florida Statutes) and Florida Business Corporation Act (Title XXXVI, Chapter 607, Florida Statutes).

In Florida, individuals that hold Florida professional licenses may structure their business as a Florida professional limited liability company or PLLC. This classification provides certain liability protections regarding the licensed profession similar to the advantages of an LLC.

Pretty much anyone can form a regular corporation. Professional corporations, however, are more limited, as only certain professional groups can form one. Which professions qualify varies from one state to the next, but typical professions include doctors, attorneys, chiropractors, accountants, and similar trades.

Step 1: Make sure all shareholders are qualified under Florida law. In Florida, shares of a professional corporation can only be owned by a PC, a PLLC, or a licensed individual authorized to provide that specific professional service.

A Florida professional corporation (PC) is typically formed for the purpose of providing professional services in a specific area. All corporation shareholders must be licensed in the professional service area, which can include any service that requires a license or legal authorization.

Professional corporations provide a limit on the owners' personal liability for business debts and claims. Incorporating can't protect a professional against liability for his or her negligence or malpractice, but it can protect against liability for the negligence or malpractice of an associate.

A professional association is Corporation formed with the single purpose of providing a specific professional service. These professional services are commonly medicine, law, accounting, etc.

If your business meets the qualifications, S corporation status allows you to avoid double taxation, thus increasing your net profits. In many states, licensed professionals are not permitted to operate as regular corporations. However, a professional corporation is an alternative that provides limited liability.

A Florida PLLC is a limited liability company (LLC) formed specifically by people who will provide Florida licensed professional services. LLCs in general are businesses registered with the state that consist of one or more people?called LLC members?who own the business.

Help With Regulatory Compliance While Florida doesn't require corporations to file their meeting minutes with any state agencies, it does require corporations to hold annual meetings and record what was discussed. Keep your recorded minutes for a minimum of three years for regulatory purposes.

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Hialeah Organizational Minutes for a Florida Professional Corporation

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Does Florida recognize professional corporations?

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What is a Florida professional corporation?

What is the purpose of a professional corporation?

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What are organizational minutes for a Florida Professional Corporation?

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