This Professional Limited Liability Company - PLLC Formation Package state-specific form must be filed with the appropriate state agency in compliance with state law in order to create a new Professional Limited Liability Company. The form contains basic information concerning the PLLC, normally including the PLLC's name, purpose and duration of the PLLC, the registered address, registered agent, and related information.
Oregon Professional Limited Liability Company PLLC Formation Package
State:
Oregon
Control #:
OR-00PLLC
Format:
Word;
Rich Text
Instant download
This website is not affiliated with any governmental entity
Public form
Description
How to fill out Oregon Professional Limited Liability Company PLLC Formation Package?
When it comes to completing Oregon Professional Limited Liability Company PLLC Formation Package, you most likely visualize a long procedure that consists of finding a suitable form among numerous very similar ones and then needing to pay out legal counsel to fill it out to suit your needs. In general, that’s a slow-moving and expensive option. Use US Legal Forms and pick out the state-specific document within clicks.
If you have a subscription, just log in and click on Download button to get the Oregon Professional Limited Liability Company PLLC Formation Package form.
In the event you don’t have an account yet but want one, follow the point-by-point guideline below:
- Make sure the document you’re saving applies in your state (or the state it’s needed in).
- Do this by reading the form’s description and also by clicking on the Preview option (if available) to view the form’s information.
- Simply click Buy Now.
- Choose the appropriate plan for your budget.
- Sign up for an account and select how you want to pay: by PayPal or by card.
- Download the document in .pdf or .docx format.
- Find the file on your device or in your My Forms folder.
Skilled legal professionals draw up our samples so that after downloading, you don't need to bother about editing content outside of your personal info or your business’s information. Join US Legal Forms and get your Oregon Professional Limited Liability Company PLLC Formation Package sample now.
Form popularity
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.
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.
Any person starting a business, or currently running a business as a sole proprietor, should consider forming an LLC. This is especially true if you're concerned with limiting your personal legal liability as much as possible. LLCs can be used to own and run almost any type of business.
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.
Professional LLCs PLLCs offer the same benefits as LLCs. The main difference between a LLC and a PLLC is that only professionals recognized in a state through licensing, such as architects, medical practitioners and lawyers, can form PLLCs.
The PLLC files a standard Form 1120, Corporate Income Tax Return, and pays taxes at the regular corporate tax rate. It retains earnings as a corporation, however, and doesn't distribute them to members for personal taxation.
Professional LLCs The main difference between a LLC and a PLLC is that only professionals recognized in a state through licensing, such as architects, medical practitioners and lawyers, can form PLLCs. The articles of organization are similar to those for a standard LLC, but extra steps are necessary to file.
How much does it cost to form an LLC in Oregon? The Oregon Secretary of State charges a $100 fee to file the Articles of Organization. Oregon LLCs are also required to file an annual report each year with the Secretary of State. The filing fee for domestic LLCs is $100 and the fee for foreign LLCs is $275.
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.