One of the few states, Washington State, mandates some professionals to register as Professional Limited Liability Companies, or PLLCs. A PLLC is a particular type of LLC created for experts in professions like law, medicine, engineering, and accounting. This article will explain what a PLLC is in Washington State, how it differs from a typical LLC, and what conditions must be met in order to create one.
A sort of company entity known as a PLLC is created especially for licensed professionals. This can include occupations like architects, engineers, lawyers, accountants, and healthcare providers in Washington State. A PLLC must have at least one member who is a licensed professional in the industry the company works in, which distinguishes it from a regular LLC. This person, who is frequently referred to as the “designated licensee,” is in charge of making sure that the business complies with all professional rules and guidelines.
A PLLC is a kind of LLC, although there are some significant distinctions between the two. A PLLC is created particularly for licensed professionals, as was already noted, although an LLC can be utilized by any kind of organization. An LLC is not obliged to have a designated licensee who is in charge of making sure that the business conforms with professional requirements, whereas a PLLC is.
You must complete a few steps in order to establish a PLLC in Washington State. You must first select a name for your business that complies with state standards and is not currently in use. The Washington Secretary of State’s office must then receive your articles of formation, together with a filing fee. A certificate of good standing proving the designated licensee’s license and good standing from the Washington State Department of Licensing is also required. Once your PLLC is established, maintaining your status will require you to submit annual reports and pay annual fees.
In Washington State, creating an LLC costs $180. The filing fee and the initial report fee are included in this cost. Creating a PLLC costs the same as creating an LLC, but you’ll also need to pay extra money for the certificate of good standing and any other professional licensing fees that might be necessary.
In conclusion, creating a PLLC will probably be necessary for you to legally conduct your firm if you are a licensed professional in Washington State. Although the procedure for creating a PLLC and an LLC is identical, there are several significant distinctions that you must be aware of. It’s always a good idea to speak with an experienced attorney or accountant who can guide you in the correct direction if you’re unclear about whether a PLLC is the best option for your company.
Yes, an LLC can exist independently of a conventional firm. You can establish a Limited Liability Company (LLC) in the state of Washington for a number of reasons, such as owning and managing property, keeping investments, or protecting personal assets. It is crucial to remember that creating an LLC without starting a business may not always be required or advantageous. It is advised to seek legal advice to determine whether setting up an LLC is the best course of action for your particular requirements.