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Does Illinois recognize a pllc?

Please be advised: Due to statute changes in Illinois for LLC, all businesses listed as LLCs providing professional services licensed by the Illinois Department of Financial and Professional Regulation (IDFPR) are now required to register as a Professional Limited Liability Company (PLLC) with the Illinois Secretary

What are the benefits of a PLLC?

A PLLC offers many advantages for the lone professional a major one being that it separates the owners from the entity, and protects them from most forms of personal liability. This means in many cases of company debt, negligence, and the like, only the PLLC is held accountable, not the individual owners.

What does MD PLLC stand for?

The MD PLLC meaning refers to professional limited liability companies in Maryland. Business owners in certain professional sectors choose this business structure in order to protect their personal assets in case their practices are sued.

What does PLLC mean for a therapist?

Like an LLC, a PLLC must include a designation after its name. Options include professional limited liability company, P.L.L.C., or PLLC. PLLCs are limited to a single professional service, and all members in the PLLC have to be licensed to provide the professional services.

What does PLLC mean after a dentist name?

A Professional Limited Liability Company (PLLC) A group of licensed professionals that want to form an LLC must form a PLLC which ensures that all managers of the entity must be of the same licensed profession. Attorneys often recommend PLLCs for dentists starting out because.

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