Massachusetts Organizational Minutes for a Professional Corporation
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How to fill out Massachusetts Organizational Minutes For A Professional Corporation?
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FAQ
Step 1: Get Your Certificate of Organization Forms. You can download and mail in your Massachusetts Certificate of Organization, OR you can file online. Step 2: Fill Out the Certificate of Organization. Step 3: File the Certificate of Organization.
A professional corporation is a variation of the corporate form available to entrepreneurs who provide professional servicessuch as doctors, lawyers, accountants, consultants, and architects.In a professional corporation, the owners perform services for the business as employees.
Professional corporations or professional service corporation (abbreviated as PC or PSC) are those corporate entities for which many corporation statutes make special provision, regulating the use of the corporate form by licensed professionals such as attorneys, architects, engineers, public accountants and physicians
(a) A corporation shall have a president, a treasurer and a secretary and such other officers described in its bylaws or appointed by the board of directors in accordance with the bylaws.
Most importantly, a professional corporation is classified as a regular or "C" corporation by the Internal Revenue Service. The corporation is considered a taxpayer under Subchapter C of the tax code and must file an annual federal income tax return and pay taxes on net income at a corporate tax rate.
C Corps vs. While traditional corporations their professional corporations are mostly similar, there is one key difference: with professional corporations (such as C Corps), owners are protected from legal claims made against their business, unless the claim was a result of the owner's own mistake.
A professional corporation is one that only performs services in one, single profession. It is a specific type of corporation for professionals like doctors, lawyers, accountants, etc. The professional is able to form a corporation, but the professional remains liable for his or her own actions.
A professional corporation is a variation of the corporate form available to entrepreneurs who provide professional servicessuch as doctors, lawyers, accountants, consultants, and architects.In a professional corporation, the owners perform services for the business as employees.