Texas Certificate of Formation-Professional Limited Liability Company
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How to fill out Texas Certificate Of Formation-Professional Limited Liability Company?
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FAQ
The professional limited liability company (hereinafter PLLC) is a limited liability company that is formed for the purpose of providing a professional service.
Yes, you can convert your LLC into a PLLC in Texas by filing a Certificate of Amendment to change the name and purpose of your LLC. You'll also need to update your operating agreement to reflect these changes.
About the Certificate of Formation and Checklist The certificate of formation form is the principal document needed to form an LLC in Texas. It includes the name of the proposed company, the registered agent for service of process, and the address of the place of business, among other information.
The difference between the two is that the PLLC has some restrictions on who may be a member of the PLLC and the limitation of liability of the members. With an LLC, anyone can be a member, or owner, of the business.
Under Texas law, a PLLC is a particular type of limited liability company (LLC) that is formed by one or more professional individuals for the purpose of providing a professional service.
PLLCs pay taxes in the same manner as LLCs. The PLLC itself does not pay taxes. The net income and losses of the PLLC passes to each member. Each member then claims their share of the net income and losses as part of their tax return.
Texas PLLCs differ from Texas LLCs in that PLLCs are formed specifically for individuals providing professional licensed services. Forming a PLLC might be the right option for you if you are a licensed professional in Texas planning to open your own practice.
If you provide a professional service, you may be required to form a PLLC in Texas. But it depends on your industry. The Texas Secretary of State provides a chart that shows a list of professional services and which business type(s) they can lawfully form.