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The Know-How of Forming California Professional Corporation

16th June 2011
By lawinc in Law
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Thereís a difference between forming a California corporation and California professional corporation. The latter is more specific. When you talk about California corporation alone, itís broad as there are different types of corporations.

This article will talk more on forming a California professional corporation. According to Wikipedia, a corporation is an institution that is granted a charter recognizing it as a separate legal entity having its own privileges, and liabilities distinct from those of its members. On the other hand, a professional corporation is an institution built by professional individuals or those who have licenses like doctors, nurses, engineers, architects, accountants, and other medical practitioners and license holder individuals.

In California, forming a California professional corporation is almost just like the typical forming of a corporation. It only differs on the aspect of professional licenses, which is part of the requirements. The California state requires that your corporationís function should depend on the type of professional license you have. Meaning, if you have a professional license as a medical practitioner, then you are only allowed to put up a corporation that has something to do with medical-related products or services.

To be able to put up a California professional corporation, you have to meet some requirements including what was mentioned earlier about the corporationís name and function. Aside from that, you also have to have an organization of your corporation board of directors. Then, you may file articles of incorporation at the Secretary of Stateís office.

After these, you may proceed to the next step, which is the preparation of your corporationís by laws. In any corporation or company, a list of by laws is very essential as this will be your corporationís guide in its functions. Then after that, you can now file Statement of Information also in the Secretary of Stateís office.

After all the papers are done, you may now hold an organizational meeting. Then, you can issue stock certificates to your corporationís initial investors. Then, you may determine the taxes according to the type of corporation youíve built, and lastly, open a bank account for your business.

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