One of the states in the US that accepts the Professional Limited Liability Company (PLLC) corporate structure is Maryland. A limited liability company (LLC) with a professional focus is known as a PLLC. It is a type of business organization that offers liability defense to experts like doctors, lawyers, accountants, and architects, among others. The purpose of the PLLC structure is to shield professionals from personal responsibility for the mistakes of their partners and staff.
You must first determine if the name is available before registering a business name in Maryland. All of the state’s registered businesses are listed in a database kept by the Maryland Department of Assessments and Taxation (SDAT). You can look for the name you want to use for your company on the SDAT website. If the name is available, register it right away. You will need to pick an alternative name if the first one is already taken.
You must submit Articles of Organization to the SDAT in order to register your business name in Maryland. This can be done by mail or online. You must include information in the Articles of Organization, such as the name of your company, the name and address of the registered agent, the goal of the company, and the names and addresses of the PLLC members.
Use the United States Patent and Trademark Office (USPTO) database to see if a business name is already taken in the US. All US trademarks and service marks that have been registered are listed in this database. To find out if there are any registered trademarks or service marks that are similar to your proposed business name, you may run a search using keywords associated with it.
The lack of liability protection that a DBA (Doing Business As) affords the company owner is one of its drawbacks. A DBA is only a business name that differs from the owner’s legal name. It offers no defense against personal liability and is not a distinct legal body. This indicates that the owner’s personal assets may be at danger if the company is sued.
In conclusion, Maryland does acknowledge the professional liability protection offered by PLLC company structures. You must first determine whether the name is accessible before submitting Articles of Organization to the SDAT in order to register a business name in Maryland. Use the USPTO database to see if a business name is already taken in the US. Finally, a DBA may put personal assets at risk and offers the business owner no liability protection.
A DBA (Doing Business As) does not file a separate tax return and is not a separate legal organization. Instead, the owner’s personal tax return is where the revenue and costs of a company using a DBA are disclosed. The company is regarded as a separate legal entity and will submit its own tax return if it is registered as a PLLC (Professional Limited Liability Company).