How Are Professional Limited Liability Companies in Texas Formed?
A professional limited liability company, also known as a “PLLC,” is a licensed business entity designated for business professionals. Lawyers, doctors, engineers, and accountants are all examples of professional business people that could license their company under a PLLC. Many states are pretty lenient as to who can form a standard limited liability company, but states like Texas have specific rules on how a PLLC is formed.
How is a Texas PLLC Different?
Texas PLLCs are limited liability companies that are formed specifically for people who will provide specific Texas licensed professional services. Texas PLLCs will protect their individual LLC members from people with claims for many sorts of financial bills or personal injuries. Anyone who is licensed to contribute a professional service in Texas can under a Texas PLLC (and you must have obtained a Texas state license at the time of providing the service).
How Do I Form My Texas PLLC?
To form your PLLC in Texas, you’ll need to accomplish a few things first. Make sure you have the state license for each professional who will be a member of the limited liability company. You will also need to check with the Texas state licensing board for your specific profession to see if approval is required. If it is, ensure that you obtain the proper documentation that shows that approval. Lastly, you’ll need to file a certificate of formation with the Texas Secretary of State. You can file this online at the Secretary of State’s website, and you should be prepared to pay a fee in order to complete the certification. It would also be helpful to have an operating (or company) agreement for your Texas PLLC so that other members of the PLLC and any other businesses will know the internal regulations of your company.
The attorneys at Anderson & Riddle are experienced in professional liability and can help your Texas PLLC through any liability claims that you’re dealing with. Contact our office today for a free consultation.