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The Jere Beasley Report, August 2005
PC Formation in Alabama -
Professional Corporation (PC) Formation
Birmingham Lawyers creating entities for Professional Service firms
A professional corporation (PC) is a special vehicle for people in certain occupations (such as doctors, lawyers, or accountants) who wish to incorporate. Some states allow these professionals to choose between the regular corporation or the professional corporation, while others require that such professionals incorporate using the PC form. The list of professionals required to incorporate as a PC vary by state. This list can be obtained by calling your secretary of state’s office. PCs serve to limit owners’ personal liability for business debts and claims, much like an LLC. While a professional can’t limit his own exposure to professional malpractice, a PC can afford him protection from liability for any malpractice of his associates.
Professionals wishing to limit their personal liability should consider alternatives such as LLC, LLP, and PC. An experienced business lawyer can help with these tough decisions, laying out the costs and benefits of each corporate form, and advising a client with respect to tax consequences and liability implications. The attorneys of Parkman White, LLP have years of experience with corporate forms, and would be happy to assist you in this regard. If you live in Jefferson County, Shelby County, St. Clair County, or within the Birmingham area, Contact the Birmingham legal team a call at 205-502-2000 to discuss your corporate alternatives.