An LLC is relatively easy to form and maintain, with fewer startup and ongoing compliance formalities than a C Corporation.įor some types of professional services businesses, the advantages of an LLC are easy to see. Owners of an LLC are called “members,” and an LLC may have one member (single-member LLC) or multiple members (multi-member LLC). An Overview of the LLC and PLLCĪ Limited Liability Company (LLC) is a popular business structure that combines the liability protection offered by incorporation while retaining some of the tax advantages of a partnership or sole proprietorship. PLLC, looking at the similarities and differences between them so that you gain a basic understanding of these structures as you explore your business entity options. In this article, we’ll consider the LLC vs. Instead, they may have to form a Professional Limited Liability Company (PLLC). However, in many states, professionals whose jobs require licensing by the state aren’t legally allowed to form an LLC. Professionals who want liability protection and flexibility may feel drawn to the Limited Liability Company (LLC) structure. For attorneys, physicians, accountants, architects, and some other licensed professionals, there are extra factors to consider. Choosing the appropriate business structure for your company is complicated.
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