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Such corporations must identify themselves as professional corporations by including "PC" or "P.C." after the firm's name. [1] Professional corporations may exist as part of a larger, more complicated, legal entity; for example, a law firm or medical practice might be organized as a partnership of several or many professional corporations.
The articles of organization document typically includes the name of the LLC, the type of legal structure (e.g. limited liability company, professional limited liability company, series LLC), the registered agent, whether the LLC is managed by members or managers, the effective date, the duration (perpetual by default in most states), and the ...
A business entity is an entity that is formed and administered as per corporate law [Note 1] in order to engage in business activities, charitable work, or other activities allowable.
LLC. Corporation. Ownership. Can be owned by one or multiple members. Owned by shareholders. Paperwork. Annual business filings can be handled by the business owner or manager
A series LLC is a special form of a limited liability company that allows a single LLC to segregate its assets into separate series. For example, a series LLC that purchases separate pieces of real estate may put each in a separate series so if the lender forecloses on one piece of property, the others are not affected.
However, do not impose such a symbol simply to mimic a graphical logo: Gulf and Western Industries not Gulf+Western. When a company name contains a numeral, do not substitute a spelled out version: 3M, not ThreeM. Non-alphanumeric symbols found in logos and other trademark stylizations are not used in Wikipedia article titles: Macy's not Macy★s.
A C corporation is distinguished from an S corporation, which generally is not taxed separately. Many companies, including most major corporations, are treated as C corporations for U.S. federal income tax purposes. C corporations and S corporations both enjoy limited liability, but only C corporations are subject to corporate income taxation. [1]
LLC advantages and disadvantages. When applying for a loan, there are some pros and cons to being an LLC. Advantages of LLCs. Personal asset protection: ...