Forming a professional corporation (PC) in Florida is not the same process as creating a regular corporation. Florida state law has different requirements for a PC formation and has additional licensing and regulatory considerations.

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Read on to learn about how to start a professional corporation in Florida.

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What is a PC?

If you have a professional service-type business in Florida and want to incorporate, you may need to do so as a PC. These businesses provide licensed services such as legal advice, accounting services, or medical work. A PC allows your corporation to lessen personal liability risk and have the assurance and reputation boost of working as an organization with your partners.

However, a PC is different from other corporations, so it's critical to understand the key areas that are similar as well as the differences before you begin incorporating.

Steps to form a PC

The following is a basic six-step advice guide to help you through forming a professional corporation in Florida:

Step 1- Choose a Name

The first move in forming any type of corporation is to select a company name that complies with all your local and state laws. The chosen name depends on the nature of the enterprise. It must stand out while still classifying as a licensed specialist corporation, as prescribed by Florida laws and regulations.

Step 2- File Articles of Incorporation

Next, you'll by initiating and filing the Articles of Incorporation (in Florida, known as Articles of Incorporation of a Professional Association) document. Among other items, the Articles of Incorporation should specify the number of shares of inventory that your PC is authorized to generate and distribute and note any ability plans and written governing requirements. Holders can acquire such documents through The Florida Bar.

Step 3- Register Agent of Service and Pay for Filing Fee

Now, identify a registered set aside specialist. This method dictates who an organization designates so that the following inhabitants can serve significant paperwork to access your PC during typical business hours. Ensure the Florida Department of the State licenses them.

Step 4- Obtain Necessary Licensure

If your professional act is regulated by the state, you'll likely need to keep a license with the regulatory board that has power over your job, such as engineers, accountants, or physicians. Learn more about professions bound by Florida state groups by consulting a structured expert.

Step 5- Submit High-Level Corporate-By-Laws Advice

You then need to register the corporation's guidelines with the Florida Secretary of State to show the company's alleged workings around meetings, voting, and circulating inventory holders' earnings.

Step 6- Food for Contracts, Licenses, & Leases

All commercial rights and undertakings excel and pop up. This move prepares access to acquire business licenses, dwellings, contracts, and other registered items before operating, such as banking relationship incorporation or employer identification number ( EIN) acquisition with Internal Revenue Service (IRS).

Other Considerations

Florida statutes require types of PCs that differ from typical corporation classifications, setting certain legal business criteria for each one. These requirements establish the specialties. You'll derive from filing alternatively taking your systematic profession as an operation which would grant shareholders either owners:

- Accountancy corporation (AC);

- Cuban-American community accounting firm (CP);

- Engineering corporation which should then also include architects together( EC);

- Local elected official accounting firm (PA);

- Physician corporation qualifications (MD/DO), or Professional law corporation designation separately for speaking(PLLC).