LI-231 - PROFESSIONAL CORPORATION (PC) OR PROFESSIONAL LIMITED LIABILITY COMPANY (PLLC) 2025

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4.8 out of 5

55 votes

The document provides instructions and application guidelines for obtaining a license as a Professional Corporation (PC) or Professional Limited Liability Company (PLLC) in Arizona. It outlines the eligibility requirements, necessary documentation, and filing procedures for real estate professionals seeking to operate under these business structures. Key points include the need for all members to hold active real estate licenses, restrictions on naming conventions, and the requirement to report any membership changes within 10 days.

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Click ‘Get Form’ to open the LI-231 form in the editor.
Begin by entering your legal name as licensed in the 'Salesperson/Broker Applicant' section, ensuring it matches your official documents.
Fill in your License Number and License Expiration Date accurately to avoid processing delays.
Provide your contact information, including Email, Phone, and Fax, for communication regarding your application.
In the 'Employing Broker Company Name' field, enter the name of your employing broker along with their License Number.
Specify whether you are submitting an Original PC Application or PLLC Application by checking the appropriate box.
Attach required documents such as Articles of Incorporation or Organization stamped 'FILED' by the Arizona Corporation Commission using our platform's upload feature.
Review all entries for accuracy and completeness before signing. Ensure both you and the Designated Broker sign where indicated.

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Versions	Form popularity	Fillable & printable
2023	4.8 Satisfied (91 Votes)
2017	4.8 Satisfied (55 Votes)

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What is the difference between PC and PLLC?

Similar to how the PLLC is analogous to the LLC, a PC is in many ways similar to a standard corporation. The main difference being, again, that professionals cannot operate as regular corporations and only professionals can be shareholders in a PC.

Who needs a PLLC in Arizona?

There is only one profession in Arizona that requires its licensed professionals to form a professional limited liability company and that is real estate sales agents. Realtors do not have to form a PLLC unless they want their broker to pay them as an entity rather than as an individual.

Is a PLLC the same as a professional corporation?

For example, professionals in California cannot form a PLLC but can form a PC or a registered limited liability partnership (RLLP), while professionals in other states, such as New York and Arizona, can form a PLLC. Owners of a PLLC will be taxed individually, as a partnership, or as an S corporation.