Professional Limited Liability Companies

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Commonly Asked Questions about Professional Limited Liability Companies

How much does a PLLC cost in NY?

Submit your PLLCs Articles of Organization With the approval of the Office of Professions, youre ready to file your articles with the state and officially form your PLLC. You must submit both your Articles of Organization and your Certificate of Authority to the Department of State and pay the $200 filing fee.

What is an example of PLLC?

A PLLC is a business entity designed for licensed professionals, such as lawyers, doctors, architects, engineers, accountants, and chiropractors.

What is the difference between LLC and professional LLC?

The main difference between LLC and professional LLC is that a PLLC is specifically for licensed professionals. PLLC owners must hold valid professional licenses in their field, a requirement not applicable to LLCs.

Whats the difference between a PLLC and an LLC?

A PLLC is a professional limited liability company. In many ways, they work like a traditional LLC. However, theyre generally limited to business owners considered professionals, like those who work in medical, legal, and other professions who have professional licensing requirements.

Is a PLLC the same as an S Corp?

Alternately, just as with an LLC, PLLC members can elect to be taxed as an S Corporation. S Corp tax treatment is also on a pass-through basis, but only the owners wages and salaries incur Social Security and Medicare taxes. Profits paid as profit distributions are not subject to those taxes.

What are the disadvantages of a PLLC?

Disadvantages of PLLCs First, there are professional limitations. Only certain professionals may form a PLLC. This limits its applicability as a business entity. Second, not all states recognize PLLCs.

What is a prof LLC?

A Professional Limited Liability Company, or PLLC, is a special type of LLC thats designed for licensed professionals, such as accountants, lawyers, and doctors. Typically, professions who require a professional license.

CATEGORIES

Professional Limited Liability Companies

Get and handle Professional Limited Liability Companies online

Video Guide on Professional Limited Liability Companies management

Commonly Asked Questions about Professional Limited Liability Companies

How much does a PLLC cost in NY?

What is an example of PLLC?

What is the difference between LLC and professional LLC?

Whats the difference between a PLLC and an LLC?

Is a PLLC the same as an S Corp?

What are the disadvantages of a PLLC?

What is a prof LLC?

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CATEGORIES

RELATED CATEGORIES

RELATED FEATURES

Professional Limited Liability Companies

Get and handle Professional Limited Liability Companies online

Video Guide on Professional Limited Liability Companies management

Commonly Asked Questions about Professional Limited Liability Companies

How much does a PLLC cost in NY?

What is an example of PLLC?

What is the difference between LLC and professional LLC?

Whats the difference between a PLLC and an LLC?

Is a PLLC the same as an S Corp?

What are the disadvantages of a PLLC?

What is a prof LLC?

Try more PDF tools