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What is the difference between LLC and professional LLC?

A PLLC is a kind of LLC specifically for licensed professionals. The difference between an LLC and a PLLC is mainly that only licensed professionals such as architects, doctors, lawyers and accountants can form PLLCs. Check with your state to determine if they permit licensed professionals to form a standard LLC.

Does North Carolina recognize PLLC?

B-Professional Limited Liability Company (PLLC) means a limited liability company that is a unique form of business organization permitted to be established under North Carolina law, which is created by an Operating Agreement (rather than Articles of Incorporation for a corporation), owned by members (rather than

How do you form a professional corporation in NC?

In order to qualify as a Professional Corporation the ownership of the company must meet N.C.G.S. 55B-6 and 55B-4(3), which requires at least 2/3 ownership by licensees and at least one North Carolina licensee for each profession that will be offered who is an officer, director and shareholder in the corporation.

How do I form a professional corporation in North Carolina?

Complete the Professional Corporate Application. Complete the North Carolina Secretary of State Form PC-05 (Articles of Incorporation Professional Corporation) under Related Forms. Mail or email the Professional Corporate Application to the address on the application cover sheet or to firms@ncbels.org.

Is C Corp the same as professional corporation?

A C-Corp is the default tax designation of professional corporations and is the most used.

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How much does it cost to register PLLC in NC?

Fees Domestic Foreign Business Corporations*FeeArticles of Incorporation$125Application to Reserve a Corporate Name$30Notice of Transfer of Reserved Corporate Name$10Application to Register a Corporate Name by a Foreign Corporation$1028 more rows

What is the difference between a personal corporation and a professional corporation?

One of the key differences between a corporation and a professional corporation is that the shareholders of a professional corporation must be licensed professionals who are authorized to provide professional services in their respective fields. This requirement does not apply to a regular corporation.

What makes a corporation a professional corporation?

A professional corporation (abbreviated as PC), also known as a professional service corporation (abbreviated as PSC), is a type of corporation established by state statute that permits owners of certain licensed professions, such as attorneys, architects, engineers, accountants, and dentists, to own shares in a

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