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 1-888-441-7773, together with a
copy of your professional registration/license.
NY State
Professional Corporation fees schedule
|
The Service
Packages Include:
|
|
$380-Economy Service
Package
includes:
|
- Name availability check
- State and service fees
- Obtaining Consent
from the Education Department (if required by State Law)
- Company filing with the Secretary of
State
- First (organizational) minutes
- Certificate of Incorporation
- Filing Receipt.
- Certified Copy of
Certificate (Articles) of Incorporation (filed with the
Department of Education- in New York)
|
|
$435-Complete Service Package
includes:
|
- Name availability check
- State and service fees
- Obtaining Consent
from the Education Department (if required by State Law)
- Company filing with the Secretary of
State
- First (organizational) minutes
- Certificate of Incorporation
- Filing Receipt
- Certified Copy
of
Certificate (Articles) of Incorporation (filed with the
Department of Education- in New York)
- Deluxe Company kit - VINYL
BINDER WITH COMPANY NAME, SLIPCASE, COMPANY SEAL, BY-LAWS,
MINUTES, 20 STOCK CERTIFICATES, THEMATIC INDEX TABS,
GUIDELINES AND FORMS
|
|
$505-Complete
Plus Service Package
includes:
|
- Name availability check
- State and service fees
- Obtaining Consent
from the Education Department (if required by State Law)
- Company filing with the Secretary of
State
- First (organizational) minutes
- Certificate of Incorporation
- Filing Receipt
- Certified Copy
of
Certificate (Articles) of Incorporation (filed with the
Department of Education- in New York)
- Deluxe Company kit - VINYL
BINDER WITH COMPANY NAME, SLIPCASE, COMPANY SEAL, BY-LAWS,
MINUTES, 20 STOCK CERTIFICATES, THEMATIC INDEX TABS,
GUIDELINES AND FORMS
- EIN
- Subchapter S
|
The regular turnaround time for NY
State PC processing is 4 weeks.
General
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.
Professional Corporation - Points to
Consider
- 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).
