What is a Professional Limited Liability Company (PLLC or PLC)?

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What is a Professional Limited Liability Company (PLLC or PLC)?

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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‚Äôs statute before forming your PLC to ensure compliance with the law and the board governing the professional licensing.

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