Pllc Vs Llc In Florida
Description
How to fill out Texas 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.
Some states don't allow for licensed professionals to own LLCs, so professionals interested in the benefits of an LLC, must opt for a PLLC instead. Florida is one such state that allows professionals to form PLLCs.
While an LLC and PLLC both provide personal limited liability protection, a PLLC will not protect you from claims of malpractice or wrongdoing. However, a benefit of a PLLC is that the wrongdoing of one individual member does not create liability for other members.
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.
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.