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Understanding the “Professional” in a Florida Professional Business – Professional Service Corporations & Professional Limited Liability Companies

November 13th, 2014

Posted in Business Law,General Practice

Chapter 621 of the Florida Statutes governs professional service corporations and professional limited liability companies.  For an entity to file under this chapter, the practitioner must be engaged in a professional service.  A “professional service” is a type of service to the public that requires the performing individual to obtain a license or other legal authorization before engaging in practice.[1]  Examples of professional services in Florida include certified public accountants, public accountants, chiropractic physicians, dentists, osteopathic physicians, physicians and surgeons, doctors of medicine, doctors of dentistry, podiatric physicians, chiropodists, architects, veterinarians, attorneys at law, and life insurance agents.[2]

The regulatory requirements of a particular profession are instrumental in determining whether a professional practitioner must or may file a business under Chapter 621 of the Florida Statutes.  Some professions expressly require practitioners to operate under Chapter 621 of the Florida Statutes if the business owner wishes to practice as a corporation or limited liability company.  For instance, attorneys must practice in the form of a professional service corporation, professional limited liability company, sole proprietorship, general partnership, or limited liability partnership.[3]  If the attorney fails to do so, he or she could be subject to discipline by the Florida Bar.[4]

For more information on the regulatory requirements of various professions, it is wise to seek qualified legal counsel in St. Augustine, Jacksonville, or elsewhere in Florida.  In many cases, the ramifications and fines associated with correcting an improperly filed entity, professional or not, outweigh the costs of an attorney’s legal advice and services to do the same.

 

[1] Section 621.03(1), Florida Statutes (2014).

[2] Section 621.03(1), Florida Statutes (2014).

[3] Rule 4-8.6(a), Florida Rules of Professional Conduct.

[4] Rule 4-8.6(d), Florida Rules of Professional Conduct.

 

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