Anyone familiar with the Professional Limited Liability Company?

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Robbie ReutzelBusiness Member
Real Estate Broker · Shirley, MA · Member since 2014 · 305 posts · 211 votes
11y

Ann is correct. The PLLC is for a business requiring professional state licensure. I have only set them up for doctors, lawyers and accountants but appraisers may also fall into that category. I believe there is a list on the sec of the commonwealth website. 

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  • Ann Bellamy
    Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes
    11y

    That's the name of it? Professional, LLC? They are not registered with the Sec of State of the commonwealth...... Even under "Professional Limited Liability Company" What is the context?

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  • Sean Brennan
    OP
    Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    11y

    Hi Ann :)

    I am opening an LLC (for appraisal services) and there is an option for an LLC or a Professional LLC...

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  • Sean Brennan
    OP
    Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    11y

    http://www.sec.state.ma.us/cor/corpweb/corllc/llcinf.htm

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  • Ann Bellamy
    Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes
    11y

    Ah, sorry.  I didn't understand the question.  I think the Professional is for attorneys, doctors, etc.  But not sure. I didn't see the distinction in the code, either.  I guess you could call the state......

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  • Sean Brennan
    OP
    Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    11y

    I have reached the same conclusion... yea I didn't see it in the code.  The state was worthless when I called.  I'll go with the vanilla llc... thanks Ann

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  • Robbie ReutzelBusiness Member
    Real Estate Broker · Shirley, MA · Member since 2014 · 305 posts · 211 votes
    11y

    Ann is correct. The PLLC is for a business requiring professional state licensure. I have only set them up for doctors, lawyers and accountants but appraisers may also fall into that category. I believe there is a list on the sec of the commonwealth website. 

    1Reply
  • Richard C.
    Bedford, NH · Member since 2012 · 2k+ posts · 1k+ votes
    11y

    I have one, for legislative advocacy. As mentioned, the purpose is to provide the benefits of an LLC to professionals who need to hold a license in their own names.

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  • Mike HurneyPro Member
    Real Estate Investor · Boston, MA · Member since 2009 · 2k+ posts · 542 votes
    11y

    @Robbie Reutzel Sounds like they just charge more for it?

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  • Sean Brennan
    OP
    Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    11y

    Thanks @Robbie Reutzel  

    I believe appraisers are not part of this... licensure is only required to perform appraisals in MA if it involves federally related  real estate  transactions

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  • Robbie ReutzelBusiness Member
    Real Estate Broker · Shirley, MA · Member since 2014 · 305 posts · 211 votes
    11y

    @MikeHurney: the way it works is that if you need professional licensure to perform your job and you want the benefits of an LLC you have to use the PLLC as your only option. I believe it is. $500 filing fee along with annual report etc.

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  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 673 votes
    11y

    PLLC is for professionals like doctor, attorneys, and the likes. Also, since it's PLLC, the owner is personally liable. It's not that great of a protection vs the regular LLC.

    I could be wrong, but that's what I recalled when I was reading a book on LLC.

    Accounting Properties LLC
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    CFO LLC
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