Pllc In Texas
Description
How to fill out Texas Sample Operating Agreement For Professional Limited Liability Company PLLC?
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FAQ
As a licensed professional in Texas you can structure your business as a Texas professional limited liability company (PLLC). This will give you protection from several important types of liability. It also may provide certain tax advantages compared to other ways of structuring your business.
A business entity that is formed for the purpose of providing a "professional service" (i.e., a service that requires a Texas license) may need to be a professional entity like a professional corporation (PC) or professional LLC (PLLC).
Regarding the management flexibility and taxation, a PLLC has the same advantages of an LLC. The difference between the two is that the PLLC has some restrictions on who may be a member of the PLLC and the limitation of liability of the members. With an LLC, anyone can be a member, or owner, of the business.
A Texas PLLC can be owned by a professionally licensed individual, or by association whose members are licensed professionals. Some common professions that require licensing include medicine, law, accounting and architecture.
The Purpose of a Texas PLLC For a PLLC in Texas, the Purpose must be the providing of some specific professional service such as legal advice, medical services, or architectural planning, to name a few. This is why, if you are converting to a PLLC from an LLC, it is not just a simple name change.