Alabama Pre-incorporation Agreement of Professional Corporation of Attorneys

State:
Multi-State
Control #:
US-01944BG
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Word
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Description

A corporation may be organized for the business of conducting a profession. These are known as professional corporations. Doctors, attorneys, engineers, and CPAs are the types of profes¬sionals who may form a professional corporation. Usually there is a designation P.A. or P.C. after the corporate name in order to show that this is a professional association or professional corporation.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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  • Preview Pre-incorporation Agreement of Professional Corporation of Attorneys
  • Preview Pre-incorporation Agreement of Professional Corporation of Attorneys
  • Preview Pre-incorporation Agreement of Professional Corporation of Attorneys

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FAQ

There are several tax advantages to forming a professional corporation, many of which also apply to standard corporations, including making use of various tax deferral mechanisms, small business deductions, and income splitting. There are certain costs associated with running a corporation.

A professional corporation is a type of corporation that is specifically designed to provide professional services. It's a legal entity that is usually owned and operated by one or more licensed individuals in a given profession, such as doctors, engineers, accountants, or lawyers.

One of the key differences between a corporation and a professional corporation is that the shareholders of a professional corporation must be licensed professionals who are authorized to provide professional services in their respective fields. This requirement does not apply to a regular corporation.

LLC Liability Protection Unlike limited partnerships and sole proprietorships, a professional corporation shares most of the benefits of a typical corporation. It has tax benefits, issuance of stock, shares of capital stock, and personal assets protection.

How to Order a Certified Copy of Articles of Organization or a Certified Copy of Articles of Incorporation from Alabama Secretary of State By Phone: Call (334)242-5324 and request your certified copy. ... By Email: ... By Mail: ... By Fax: ... In Person: ... Counter Service: ... Expedited processing: ... Normal processing:

Related Alabama Legal Forms. The practice of medicine in the State of Alabama as a professional corporation is controlled statutorily by the Alabama Business Corporation Act and the Revised Alabama Professional Corporation Act (hereinafter the ?Act?).

The difference between LLC and PC is straightforward. A limited liability company (LLC) combines the tax benefits of a partnership and the limited liability protection of a corporation. A professional corporation (PC) is organized ing to the laws of the state where the professional is licensed to practice.

PC's, unlike general business corporations, do not legally shield the owner from a negligence claim. As a result, for those in solo practice, the PC offers no legal advantage. Every individual physician is liable for his own negligence, whatever the form of his practice.

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Alabama Pre-incorporation Agreement of Professional Corporation of Attorneys