Louisiana PLLC Notices and Resolutions
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How to fill out Louisiana PLLC Notices And Resolutions?
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FAQ
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.
A PLLC is a special kind of business entity available to licensed professionals. By Christine Mathias, Attorney. A professional limited liability company (PLLC) is a business entity that offers tax benefits and limited liability for professionals, such as lawyers, accountants, and doctors.
Forming your personal service business as a PLLC will protect you personally from creditors seeking unpaid debts owed by the PLLC, provides legal liability protection from any legal claims brought against the business, and also provides asset protection.
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.
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.
A professional limited liability company (PLLC) is a business entity that offers tax benefits and limited liability for professionals, such as lawyers, accountants, and doctors.
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.
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.