Kentucky Articles of Organization (Professional LLC) are documents that are used to officially form a limited liability company (LLC) in the state of Kentucky. Professional LCS are a form of LCS specifically designed for professional services, such as attorneys, accountants, and physicians. The Articles of Organization must be filed with the Kentucky Secretary of State in order to officially register the LLC. The Articles of Organization must include the LLC's name, the address of the LLC's registered office, the LLC's duration, the name of the LLC's registered agent and the LLC's purpose. Kentucky also requires that professional LCS include a statement that the LLC is a professional LLC and the specific professional services that it will provide. There are two types of Kentucky Articles of Organization (Professional LLC): a standard form and a long form. The standard form is a simple, one-page document and is suitable for most professional LCS. The long form is more detailed and requires more information to be listed, including a description of the LLC's activities and the names of its members.
Kentucky Articles of Organization (Professional LLC)
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FAQ
Kentucky doesn't require PLLCs to hold a general business license, but individual members require active professional licenses, and the business may have to meet other industry-specific standards. The state requires the company's members to have these licenses and permits before starting the business.
A professional LLC may elect to be taxed as a partnership, as a disregarded entity, as an S corporation, or as a C corporation. In comparison, a professional service corporation can only choose between being the S corporation or C corporation structure.
The difference between a PC and a PLLC is ultimately the same as the difference between a regular corporation and a regular LLC. One major difference is how these entities are taxed. The PLLC has a few options for taxation, and all of them are likely to save ownership money compared to a PC.
To make a copy of the filing for delivery to the local county clerk's office, visit .sos.ky.gov and print a copy from the organization search tool. The document will be effective on the date and time of filing. The filing fee for the document is $40.00.
A professional limited liability company (PLLC) ? not to be confused with a public limited company (PLC) ? is the type of LLC licensed professionals use. A PLLC has a similar Articles of Organization, but extra steps are required to form the PLLC.
A PLLC, like other LLCs, is a so-called pass-through tax entity, meaning that in most states (including Michigan) only the individual members have income tax obligations, while a PC, like other corporations, usually has its own income tax obligations.
Differences Between PCs and PLLCs PLLCs have membership interests in the company, and PC ownership is based on how many shares of stock each person owns. PLLCs are pass-through tax entities like LLCs, so in most states (Texas excluded) only individual members pay income tax. PCs pay income tax at the corporate level.
You can file the articles online or download a blank articles of organization form (Form PLC) by going to the SOS website. The downloadable Form PLC is specifically for PLLCs rather than regular LLCs. The current filing fee is $40.