Dothan Attorneys Creating Entities for Professional Service Firms
A professional corporation (PC) is a special business form for people in certain professions (such as lawyers, doctors, or accountants) who wish to incorporate. Some states allow these professionals to make the choice between forming a regular corporation or operating as a professional corporation. Others require professionals to incorporate using the PC model. The categories of professions required to operate as a PC will vary from state to state. This list can be found at the secretary of state’s office. Professional corporations limit owners’ personal liability for business debts and claims, similar to the LLC. While a professional can’t limit his own exposure to any professional malpractice claims, a PC can afford professionals protection from liability for malpractice claims against their partners or associates.
Professionals who wish to limit their personal liability should consider corporate innovations such as LLC, LLP, and PC. An experienced business attorney can help you make these important decisions, laying out the costs and benefits of each corporate form, and advising you with respect to tax consequences and liability implications. Dothan probate attorneys Parkman White, LLP have years of experience with corporate formation, and would be happy to discuss any questions you might have. If you live in Houston County, Dale County, Geneva County, Pike County, or anywhere nearby, email us or give our Dothan legal team a call at 334-792-1900 for a consultation.