Maryland Professional Limited Liability Company PLLC Formation Package
What this document covers
The Maryland Professional Limited Liability Company (PLLC) Formation Package is a legal document that allows state-licensed professionals in Maryland to establish a Professional Limited Liability Company. This form is essential for complying with state law when creating a PLLC, distinguishing it from standard LLCs by specifically catering to professions that require licensing, such as architects, attorneys, and doctors.
Main sections of this form
- PLLC Name: Must include specific terms indicating its status as a PLLC.
- Purpose: A brief description of the professional services to be provided.
- Registered Agent: Required person or entity in Maryland authorized to receive legal documents.
- Principal Office Address: Must be located in Maryland and cannot be a P.O. box.
- Member Information: Details about the individuals or entities that will own the PLLC.
When to use this form
This form should be used when a professional wishes to form a PLLC in Maryland for the purpose of rendering services as a state-licensed professional. It is necessary to ensure compliance with local laws and regulations specific to professional practice in the state.
Who can use this document
- Licensed professionals in Maryland such as architects, attorneys, accountants, and physicians.
- Individuals planning to start a business that provides professional services.
- Existing professionals seeking to convert their practice to a PLLC structure for liability protection.
Completing this form step by step
- Reserve the PLLC name by completing the Application for Reserved Name if necessary.
- Fill out the Articles of Organization with the required information about the PLLC.
- Designate a registered agent and provide their address in Maryland.
- Submit the Articles of Organization along with the appropriate filing fees to the Maryland State Department of Assessments and Taxation.
- Upon approval, create an Operating Agreement to detail the management and operational aspects of the PLLC.
Is notarization required?
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
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.
Common mistakes
- Not reserving the PLLC name prior to submitting the Articles of Organization, leading to rejection.
- Failing to include the required information about the registered agent and principal office address.
- Using incorrect terminology in the PLLC name, which may not meet state requirements.
Advantages of online completion
- Convenience of submitting forms electronically from anywhere at any time.
- Editability allows users to review and correct information before submission.
- Reliable access to up-to-date legal forms drafted or reviewed by licensed attorneys.
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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.
To form an LLC in Maryland you will need to file the Articles of Organization with the Maryland Department of Assessments and Taxation, which costs $100. You can apply online, by mail, or in-person.
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.
Forms and fees. The filing fee for the Articles of Organization is about $100. Expedited processing services are available for a minimal fee of $50. Fees can change, check with the Maryland Department of Assessments and Taxation for the most current fees.
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.
A professional limited liability company (PLLC) is a business entity designed for licensed professionals, such as lawyers, doctors, architects, engineers, accountants, and chiropractors.In these states, licensed professionals who want the benefits of an LLC must form a PLLC instead.
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.
The MD PLLC meaning refers to professional limited liability companies in Maryland. 1. Professional Limited Liability Companies and Professional Corporations. 2.
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.