Cost of compliance in Pennsylvania for accounting firms organized as LLC vs Corporation
I am in the process of researching the best legal structure for my accounting business. There are many factors to consider, and many (most) of them are best discussed with an attorney. However, I did want to poll the community regarding the annual cost of compliance.
In PA, LLC's providing public accounting services are considered Restricted professional companies and required to file a Certificate of Annual Registration (CAN), which is currently $641 per member per year. To my knowledge there are no analogous requirement for corporations. I know that in 2025 a new annual reporting requirement will go into place that applies to both LLC's & Corporations, however at $7/year I'm not concerned about it.
Aside from the CAN are there any other recurring annual compliance costs to consider when selecting an entity type for a public accounting firm in PA?