Professional Corporations
Professional Corporation Checklist
Learn more about Professional Corporations
Shareholder Information Change in a PC
Check Pricing for a NY State PC
Check Pricing for a NJ State PC
Contact us for a quote for all other states
Order On- Line
Order by Fax
Professional Corporation Checklist
To place an order for a professional incorporation, please do
the following:
1. Place your PC order through our website in Order Online section, or print out the Service Request form.
2. Print out Professional Corporation Affidavit form.
3. Fax the forms to 1-518-375-9351, together with a copy of your professional registration/license.
NY State Professional Corporation fees schedule
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$380-Economy Service Package |
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$435-Complete Service Package |
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$505-Complete Plus Service Package |
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The regular turnaround time for NY State PC processing is 4 weeks.
A legal structure authorized by state law for a fairly narrow list of licensed professions, including lawyers, doctors, accountants, many types of higher-level health providers and often architects. Unlike a regular corporation, a professional corporation does not absolve a professional for personal liability for her own negligence or malpractice. The main reason why groups of professions choose this organizational structure is that, unlike a general partnership, owners are not personally liable for the malpractice of other owners. In some states, limited liability partnerships offer this same benefit and may be more desirable for other reasons.
- There is a significant limitation on personal liability in a professional corporation.
- While the corporation cannot protect a professional against their own negligence, it does protect them against the negligence of an associate.
- Professional corporation is a useful back-up to malpractice insurance.
- More expensive to create than a partnership or sole proprietorship.
- Paperwork can become burdensome to owners.
- All shareholders must belong to the same profession.
Corporate name shall end with the words "Professional Corporation" or the abbreviation "PC"
The proposed name of the corporation appropriately describes the profession or professions practiced and the services to be provided and is not false, fraudulent, deceptive or misleading.
The delivery of substandard care or services by a lawyer, doctor, dentist,
accountant or other professional. Generally, malpractice occurs when a
professional fails to provide the quality of care that should reasonably be
expected in the circumstances, with the result that her patient or client is
harmed.
Shareholder Information Change
Adding/Removing shareholder(s) in a Professional Corporation:
Please provide us with the following:
- Filled in and signed Minutes of Meeting of the Board of Directors (feel free to use/modify the attached sample form).
- Copies of licenses or registrations of the shareholders that will be added/removed.
- A registration document of the corporation (filing receipt, certificate of incorporation).
The normal turnaround time for this service is about 3 weeks. The cost of service is $130, which includes:
- filing the new shareholder(s) with the Education Department
- obtaining the official Good Standing Letter from the Education Department, Reflecting the changes (in this case the Good Standing Letter is the document that confirms the information changes).
