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Q1. What is a professional service company?
A1. A professional service company is an entity organized for the sole purpose of providing specific professional services to the public. Title 12 of the Colorado Revised Statutes specify which professionals may form a practice as a professional service company.
Q2. Which professionals may practice as professional service companies?
A2. If your profession falls into one of the below categories, you should review Title 12 and contact your regulatory agency to determine if you qualify to form a professional service company and whether you need a professional term or abbreviation.
Below is a list of professionals that may have certain name requirements as a professional service company. Within the table is a breakdown of which professional terms or abbreviations that are either optional or mandatory in an entity name.
If you’re not using a professional term or abbreviation, reference the FAQ for entity names.
Professions:
- Accountants
- Attorneys
- Chiropractic
- Dentists
- Medical practice
- Optometry
- Physical therapists
- Podiatry
- Psychologists
- Social workers
- Marriage and family therapists
- Professional counselors
- Addiction counselors
If you have questions, consult an attorney or business advisor.
Q3. Do professional service companies file a form specific to them?
A3. No. Professional service companies will file the same documents as their legal form of entity.
Q4. What requirements must be satisfied in order to file as a professional service company in Colorado?
A4. Professional service companies may need to include a specific professional designator in their name.
Depending on the profession, Title 12 may require additional information to be included in the filing which can be added as an attachment. Other state agencies or regulatory bodies may have requirements specific to professional service companies.
Q5. What names are acceptable for a professional service entity?
A5. See § 7-90-601, C.R.S., and the specific profession in Title 12 or C.R.C.P. 265, for more information and specific details. Questions regarding which name is appropriate may be addressed to your legal or business advisor.