Is it better to have a PLLC or an LLC?
For many small professional service businesses, the pros of a PLLC outweigh the extra hassle. The pass-through tax treatment, liability protection, and credibility of a PLLC can be advantageous. However, if youre unsure of your business ideas or want an easy setup, an LLC may suit your needs.
What is the difference between a PLLC and an LLC?
A professional limited liability company (PLLC) is a business structure that offers personal asset protection for business owners in licensed occupations, such as medicine and law. Only recognized in some states, PLLCs are subject to the same laws as ordinary LLCs.
Which states allow PLLC?
States that allow PLLC formation include Arkansas, Arizona, Colorado, District of Columbia, Florida, Idaho, Iowa, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Nevada, New Hampshire, New York, North Carolina, North Dakota, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Utah,
What are the disadvantages of a PLLC?
In Iowa, any business that wishes to do business using a different name than what the business was formed under must file for a DBA (doing business as). A DBA is an additional legal name for a business entity. It is also referred to as a trade name or fictitious name.
