New York Professional Limited Liability Company PLLC Formation Package
The New York Professional Limited Liability Company (PLLC) Formation Package is a comprehensive set of documents required to establish a Professional Limited Liability Company in the state of New York. This form is specifically designed for licensed professionals, ensuring compliance with New York state laws governing PLLCs, which allows professionals to offer services while limiting personal liability. It differs from other business formation documents by catering exclusively to professional services, such as law firms, medical practices, and accounting firms.
- Professional Limited Liability Company Articles of Organization: Contains the basic information about the PLLC, including name, purpose, and organization details.
- Application for Reservation of Name: Optional step to secure the desired name for the PLLC before filing the Articles of Organization.
- Operating Agreement: Outlines the management structure and operational procedures of the PLLC.
- Certificate of Registration: Needed to document the reservation of a name, if applicable.
- Publication Requirement: Notifications to be published in local newspapers per New York state law.
You should use the New York PLLC Formation Package when you are a licensed professional looking to establish a legal entity for your practice in New York. This form is especially relevant if you want to enjoy the benefits of limited personal liability while providing professional services. Scenarios may include forming a new law firm, medical office, or any other business that requires professional licensing under New York state law.
Intended Audience:
- Licensed professionals such as lawyers, doctors, and accountants.
- Individuals planning to form a new PLLC in New York.
- Existing professionals seeking to change their business structure to a PLLC.
Steps to complete the New York PLLC Formation Package:
- Step 1: Choose and, if desired, reserve a name for your PLLC using the Application for Reservation of Name.
- Step 2: Complete the Articles of Organization, ensuring to provide all required details about your PLLC.
- Step 3: File the Articles of Organization along with the required filing fee with the New York Department of State.
- Step 4: Publish a notice of your PLLC formation in two designated newspapers for six consecutive weeks, and obtain proof of publication.
- Step 5: Draft an Operating Agreement that outlines the structure and management of your PLLC.
Notarization requirements for this form
Notarization is not commonly needed for this form. However, certain documents or local rules may make it necessary. Our notarization service, powered by Notarize, allows you to finalize it securely online anytime, day or night.
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Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
- Failing to reserve the PLLC name before filing the Articles of Organization.
- Not including all required member and manager information in the Articles of Organization.
- Neglecting the publication requirement within the specified 120 days.
- Convenience of downloading documentation from home or office.
- Editability allows you to customize forms to fit your specific needs.
- Reliable access to state-specific legal forms, ensuring compliance with New York regulations.
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FAQ
A PLLC, or professional limited liability company, is a special type of LLC that may only be formed by licensed professionals for the purpose of rendering professional services. While this is not required, doing so can be beneficial for tax, liability, financing, and other reasons.
In most cases, business owners can amend the articles of organization of an LLC to change to a PLLC. For example, the state of Arizona requires that a company complete a form to amend its articles of organization and change the name of the company from LLC to PLLC.
To form a PLLC, a licensed professional must sign all filing documents as well as include their professional license number and a certified copy of their license. Importantly, they must submit these documents for approval with their state licensing board before filing them with their state's secretary of state.
Members of a PLLC aren't personally liable for the malpractice of any other member. PLLC members are not personally liable for business debts and lawsuits, such as unpaid office rent. The PLLC can choose to be taxed as a pass-through entity or as a corporation.
To form a PLLC, a licensed professional must sign all filing documents as well as include their professional license number and a certified copy of their license. Importantly, they must submit these documents for approval with their state licensing board before filing them with their state's secretary of state.
Individual Reports A partnership PLLC must file a Form 1065, Return of Partnership Income, showing income, deductions and any profit or loss. This is an informational return, and no taxes are assessed. A Schedule K-1 with the form shows each partner's share, to be reported on a personal return.
The difference between a PC and a PLLC is ultimately the same as the difference between a regular corporation and a regular LLC. One major difference is how these entities are taxed.With a PLLC, you can choose to be taxed like a C corp or an S corp, but the far more common option is taxation as a pass-through entity.
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.
1Step One) Choose a PLLC Name.2Step Two) Designate a Registered Agent.3Step Three) File Formation Documents with the State.4Step Four) Create an Operating Agreement.5Step Five) Handle Taxation Requirements.6Step Six) Obtain Business Licenses and Permits.
