Florida Pllc Requirements With Llc

State:
Florida
Control #:
FL-PLLC-1
Format:
Word; 
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Description

The Florida PLLC requirements with LLC involve the formation of a Professional Service Limited Liability Company designed for licensed professionals to offer their services. This form, the Operating Agreement, outlines essential provisions such as member management, business purpose, profit distribution, and the protocol for adding new members, ensuring compliance with Florida statutes. Key features include defining initial capital contributions, detailing management structures (either manager-managed or member-managed), and specifying voting rights and powers of members. Filling out the agreement requires careful consideration of the specific profession being practiced, along with the necessary qualification of members. Attorneys, partners, and owners will benefit from utilizing this form to establish clear operational guidelines, responsibility delineations, and liability limitations. Additionally, paralegals and legal assistants can assist in drafting and editing the agreement, ensuring all required information is accurately provided. Specific use cases for this form include startup professional services firms, collaboration between professionals, and business succession planning within licensed practices.
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  • Preview Sample Operating Agreement for Professional Limited Liability Company PLLC
  • Preview Sample Operating Agreement for Professional Limited Liability Company PLLC
  • Preview Sample Operating Agreement for Professional Limited Liability Company PLLC
  • Preview Sample Operating Agreement for Professional Limited Liability Company PLLC
  • Preview Sample Operating Agreement for Professional Limited Liability Company PLLC
  • Preview Sample Operating Agreement for Professional Limited Liability Company PLLC
  • Preview Sample Operating Agreement for Professional Limited Liability Company PLLC
  • Preview Sample Operating Agreement for Professional Limited Liability Company PLLC
  • Preview Sample Operating Agreement for Professional Limited Liability Company PLLC
  • Preview Sample Operating Agreement for Professional Limited Liability Company PLLC
  • Preview Sample Operating Agreement for Professional Limited Liability Company PLLC

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FAQ

The extent of liability protection is the main difference between a PLLC and an LLC in Florida. In most cases, you'll also need to provide your licensing credentials to the state before you can form a PLLC.

Naming Restrictions: Florida has no restrictions on naming professional entities, unlike most states. However, the state laws specify that the name should include a designator at the end. The options are PLLC, P.L.L.C., Chartered, or Professional Limited Liability Company.

In Florida, you can convert your business entity from one structure into another through a fairly straightforward and simple process. You must submit the proper conversion document, along with a new formation filing and pay the allotted fees to the Division of Corporations.

PLLCs are composed of a member or members who own the business. However, only people providing Florida licensed (or otherwise legally authorized) professional services can form PLLCs. These licensed professions include certified public accountants, doctors, dentists, attorneys at law, and many others.

One of the main benefits of forming a PLLC is the separation it offers between the members and the entity. The PLLC structure offers several personal liability protections, such as: Protection from creditors seeking debts owed by the PLLC. Protection from malpractice involving other members of the PLLC.

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Florida Pllc Requirements With Llc