Pennsylvania PLLC Operating Statement
Description
How to fill out PLLC Operating Statement?
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FAQ
Beginning in 2025, every Pennsylvania LLC will need to file an Annual Report each year to renew their LLC. Note: Pennsylvania used to require that LLCs file a report every 10 years (called a Decennial Report). However, starting in 2025, the new Annual Report requirement will replace the old Decennial Report.
In order to operate, LLCs require real humans (and other entities) to carry out company operations. Though it's not required by Pennsylvania law, any good lawyer will recommend having a written operating agreement for your LLC.
What should a multi-member operating agreement include? Affirms that the LLC has been formed by state laws and will conduct lawful business. Notes where key business information (such as member info and registered agent) can be found. Lists the events that can end the business (and how members can continue the LLC)
A PLLC can elect to be governed by its members or managers. Unlike a PA, a PLLC's governing authority may include either appropriately licensed individuals, professional entities providing the same service as the PLLC, or both. PLLCs are not required to have officers.
Pennsylvania professional corporations are owned by shareholders who hold stock in the business. PLLCs are made up of members with an ownership interest in the company. This changes the operating structure of the business. PLLCs are easier to form but don't have quite as much liability protection as corporations.
Pennsylvania allows professionals, such as accountants, attorneys and physicians, to form a professional limited liability company (PLLC).
Limited liability partnerships/limited liability limited partnerships are often professional partnerships, such as law firms or accounting practices. An existing Pennsylvania general or limited partnership may claim limited liability status on the Statement of Registration [DSCB:15-8201A].
A Pennsylvania professional limited liability company (PLLC) is a business structure available to licensed professionals. Its flexibility is one of the secrets behind its popularity. The process to register a Pennsylvania PLLC is fairly simple, and with the right help, it can be quick and easy.