For-Profit Corporation (S or C Corporation designation as determined by IRS) is organized with intent of making a profit and required to issue stock shares. Management and control is exercised through shareholders, directors and officers who have very little limited personal liability. Board sets policy; controls president. Officers conduct day-to-day operations.
For tax purposes this type of corporation must meet certain IRS rules depending on the tax designation.
For C Corporations, partners are being taxed on profits personally based on ownership percentages while shareholders are being taxed on dividends. S Corporation is the most complex business structure and subject to stricter government control. Earnings for C Corporation are "double-taxed" - the corporation is taxed and shareholders get dividends that may also be taxed.
“Professional corporation” means a corporation organized under D.C. Code Title 29, Chapter 5 solely for the specific purposes provided under this chapter and which has, as its shareholders, only individuals who themselves are duly licensed to render the same professional service as the corporation.
“Professional service” means any type of personal service to the public which may be lawfully rendered only pursuant to a license and which by law, custom, standards of professional conduct or practice in the District before December 10, 1971, could not be rendered by a corporation, including the services performed by certified public accountants, attorneys, architects, practitioners of the healing arts, dentists, optometrists, podiatrists, and professional engineers.
To register domestic Professional Corporation in the District, customer shall deliver articles of incorporation form DPR-1 to the Superintendent for filing either by web or by mail/walk-in.
NOTE: Walk-in Customers will be charged expedited fee for one day service in the amount of $100 in addition to regular filing fees.
Online Filing
Go to CorpOnline, create a profile, access the online services main page (use Internet Explorer 8, Chrome, Firefox or Safari) and proceed. Online filers must pay by credit card. Once filing is submitted, print the last confirmation page for your records.
Reporting Requirement
Every domestic and foreign corporation, Limited Liability Company, Limited Liability Partnership, Limited Partnership, General and Limited Cooperative Association, Business Trust is required to file two-year reports with Corporations Division to maintain good standing within the District of Columbia.
- First reports are due April 1st of the very next year from the year of registration.
- Foreign entities might be liable for back reports if commenced business prior to registration.
- Subsequent reports are due April 1st every two years thereafter.
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