The main difference between a LLC and a PLLC is that only licensed professionals can form PLLCs. Extra steps are necessary to file the articles of organization for PLLCs versus LLCs. PLLCs are strictly regulated but provide owners with extra protection.
The articles of organization document typically includes the name, type of legal structure, registered agent, management structure, effective date, and duration of the LLC. They serve as a legal declaration that the LLC has been established.
Some states require every member of a PLLC to be licensed in that profession if the company provides those services.
A series LLC has a “parent” LLC with one or more “child” LLCs filed beneath it. A series LLC and a traditional LLC follow the same formation regulations.
An LLC that does not want to accept its default federal tax classification, or that wishes to change its classification, uses Form 8832, Entity Classification Election (PDF), to elect how it will be classified for federal tax purposes. Owners of an LLC are called members. Most states do not restrict ownership, and so members may include individuals, corporations, other LLCs and foreign entities.