Professional Limited Liability Company (PLLC)
A professional limited liability company (PLLC) offers personal asset protection for licensed professionals and is subject to LLC laws.
What is a Professional Limited Liability Company (PLLC)? A PLLC offers liability protection to licensed professionals in some states. The licensing board must approve the PLLC.
Difference between PLLC and LLC
The main difference between a PLLC and an LLC is the restrictions on membership and members’ liability limitation.
Benefits of a PLLC
One of the key benefits of a PLLC is pass-through taxation, avoiding double taxation. Another advantage is flexibility in management structure.
By Christine Mathias, Attorney.
A professional limited liability company (PLLC) is a business entity offering tax benefits and limited liability for licensed professionals.
What does CPA PLLC mean? Professional Limited Liability Company
A Professional Limited Liability Company, or PLLC, is designed for licensed professionals, such as accountants, lawyers, and doctors. It offers asset protection and "charging order" protection.
What do the initials PLLC mean? professional limited liability company
A PLLC is a business entity that offers tax benefits and limited liability for professionals like lawyers, accountants, and doctors.
How is a pllc taxed? A PLLC is taxed like a sole proprietorship or can elect to be treated as an S corporation by the IRS.
This article details all aspects of PLLC formation, advantages and disadvantages, and answers common questions regarding PLLCs.
Licensed professionals under state licensing laws are eligible to form a PLLC, which offers pass-through taxation. Additionally, it provides flexibility in management structure.