What is a Professional Limited Liability Company (PLLC or PLC)?
In many states, people in certain occupations (for example, doctors, lawyers or accountants) who want to form Limited Liability Companies (LLCs) for their practice can do so only through a “Professional Limited Liability Company (PLLC or PLC).” In other states, some professionals have a choice of forming LLCs as either a PLC or a LLC. In all states, certain professionals are allowed to form PLCs. Some of the benefits of PLCs are: protection from personal liability, increased company image and credibility, and possible eligibility for tax-exempt status. Be sure to check your state’s statute before forming your PLC to ensure compliance with the law and the board governing the professional licensing.
