Professional corporations in Illinois: a short guide for licensed owners
Licensed professionals can incorporate, but every owner must be licensed in the same profession. Here are the two filings, the 2026 fees, the renewal wording and the traps we see.
Prepared by Prem Tax and Accounting Corp. Last checked against official sources on October 29, 2026.
The Illinois Professional Service Corporation Act (805 ILCS 10) lets licensed professionals practice through a professional corporation, or PC. The Secretary of State files the articles, and the profession's regulating authority, usually IDFPR, registers the corporation. It matters to licensed owners, and we sort it out with the Matching-Diploma Roster Check. The official text is on the Illinois General Assembly website.
- Shareholders must be licensed in the profession, and stock goes only to licensed individuals.
- Two filings: articles with the Secretary of State ($150), then registration with the regulator ($50 per location).
- Each professional stays liable for their own acts and those they directly supervise.
- Renewal timing is unsettled between the Act and IDFPR's checklist.
Who it covers
| Role | Must be licensed? | Note |
|---|---|---|
| Shareholders | Yes | Individuals only, with no voting trusts or proxies to unlicensed people. |
| Directors, officers, agents, employees | Yes | Except the secretary and supporting staff. |
| Law, accounting, real estate, design, security, salons | Other routes | IDFPR's checklist sends these elsewhere; lawyers use the Supreme Court. |
The numbers
Statewide in Illinois; some regulators may differ.
| Item | Amount or date | Year |
|---|---|---|
| Articles, Secretary of State | $150 | 2026 |
| Registration | $50 per location | 2026 |
| Renewal, per the Act | "$40 per year" in one sentence; where IDFPR regulates, $40 with expiry every third January 1 (next 2028) | 2026 |
| IDFPR checklist wording | Expiry December 31 each year; an unresolved conflict | 2026 |
| Late registration | $50 plus $100 per unregistered year, late fees capped at $500 | 2026 |
| Lapse fee | $100, only after repeated bounced checks including a renewal check, a lapse and continued practice without payment; may be waived | 2026 |
Source: 805 ILCS 10/12 and 13.5
Our checklist
The Matching-Diploma Roster Check asks five things.
- Roster: Does every owner, director, officer and employee hold the same license?
- Regulator: Does IDFPR register this profession, or does another route apply?
- Wall: Is a certificate posted at each location?
- List: Is the shareholder-license certificate ready for renewal?
- Exit: Do the articles, bylaws or an agreement set how a deceased or disqualified owner's shares are bought?
Mistakes people make
- Filing articles and skipping the regulator's registration.
- Letting a non-licensee hold shares, a proxy or management authority.
- Assuming the corporation shields a professional from their own malpractice.
Call an attorney to choose between a PC and a professional LLC, set redemption terms or answer a regulator's notice. For entity tax choices, see startup tax planning.
Common questions
Can a CPA firm be a professional service corporation?
Not through this registration. IDFPR's checklist sends public accounting to a Public Accounting Firm application, and Section 14.4 of the Public Accounting Act sets its own ownership rules.
Can two professions share one corporation?
Only in the combinations Section 3.6 lists. Two 2026 amendments left two versions in print, so check the current text on ilga.gov and ask an attorney first.
When does a registration renew?
The Act says $40 per year in one sentence and, where IDFPR regulates, expiry every third January 1. IDFPR's checklist says December 31 each year. Confirm with the regulator.
Official sources
- Illinois General Assembly: Professional Service Corporation Act, 805 ILCS 10
- Illinois Department of Financial and Professional Regulation: Professional service corporation
- IDFPR: Professional service corporation new application checklist
- Illinois Secretary of State: Corporation forms and fees
- Illinois General Assembly: Illinois Public Accounting Act, 225 ILCS 450
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