When forming a Pennsylvania entity, the submission of formation paperwork and payment of a filing fee are just a couple of necessary steps. Entity types include for-profit corporations, nonprofit corporations, limited liability companies and more. The filing fee will vary by entity type.
In early January 2017, a waiver of various entity formation fees and certain licensure fees applicable to military veterans and reservists took effect. Cost savings of nearly $200,000 in 2017 have now been reported.
Importantly, the waivers extend beyond entity formation fees. For example, a business may decide to assume a name that is distinct from its formal entity name. In that case, the $70 filing fee for registration of a fictitious name is likewise waived. Moreover, various fees attributable to professional licenses issued by the Pennsylvania Department of State, Bureau of Professional and Occupational Affairs may also be eligible for a waiver.
To learn if you or your business qualifies for such waivers, as well as the requisite documentation for eligibility, contact attorney Jonna Stratton.
DISCLAIMER: This article is for educational purposes only and is not intended as a substitute for legal advice. Please contact GKH’s Corporate Practice Group directly with questions about how these and other laws and procedures relate to your specific organization.
Prepared by GKH attorney Jonna Stratton. Attorney Stratton is a member of GKH’s Corporate Practice Group.