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If you’re a professional starting your own business, you’ve likely seen mention of a Professional Company without much explanation or detail.
So, What Is A Professional Company?
A Professional Company is a business entity, like an LLC or corporation, but for licensed professionals. Professional Companies can be one of two types: a P.C., professional corporation, or a PLLC, professional LLC.
Occupations that generally require special licenses or oversight usually need a Professional Company. Though most commonly found in the health services field, other licensed occupations often need a PC or PLLC as well.
Check below for a full list of professional companies.
How Is It Different Than A Normal Business?
When forming a Professional Company, you will need to file with the State’s Department of Education. The New York State Office of Professions has some great resources on the law surrounding licensed professionals. It will be the Office of Professions, under the State Department of Education that will oversee these businesses.
New York’s Department of Education will issue a Certificate of Authority, which allows the business to practice in the licensed field. Those applying must provide proof of licensure. Once approved, all shareholders, officers, and directors will be authorized to practice.
Otherwise, a Professional Company can be run just like a corporation or LLC would, at least from a business standpoint. Like corporations and LLCs, there are advantages to both, so the choice should be based on the type of company structure and tax structure you want.
The extra, lengthy steps to form these entities is why most online services, law firms, and business consultants don’t help form them. Fisher Stone has helped form hundreds of Professional Companies. If you’re starting a business, our firm can help you learn your options.
Each state has different regulations about what is required of businesses. Your business may need to be a Professional Entity, so please contact our firm at 516-908-9519 or at info@fisherstonelaw.com. You can also schedule a free consultation with a lawyer. Our attorneys will help you avoid the costly, and possibly devastating, mistake of running your company as a regular business.
Here is our running list of Professional Companies:
Health Services
- Acupuncture
Athletic Trainer Audiology Certified Behavior Analyst Assistant Chiropractic Clinical Laboratory Technician Creative Art therapy Cytotechnologist Dental/Dentistry Dietetics/Nutrition Histological Technician Licensed Behavior Analyst Licensed Clinical Social Work Licensed Master Social Work Licensed Practical Nursing Marriage and Family Therapy Massage Therapy Medical Physics Medicine Mental Health Counseling - Midwifery
Nurse Practitioner Occupational Therapy Occupational Therapy Assistant Ophthalmic Dispensing Optometry Perfusion Pharmacy
Health Services (Continued)
Physical Therapy Physical Therapist Assistant - Podiatry
Polysomnographic Technology Psychology Psychoanalyst Registered Physician Assistant Registered Professional Nursing Registered Specialist Assistant Respiratory Therapist Respiratory Therapy Technician Speech-Language Pathology
Design Professions
- Architecture
- Geology
- Interior Design
- Land Surveying
- Landscape Architecture
Professional Engineering
Other Professions
- Attorney
- Certified Public Accountancy
- Certified Shorthand Reporting
- Public Accountancy
- Veterinary Medicine
- Veterinary Technology
