Should you Form a Professional LLC (PLLC) for your Business?
Illinois business owners, do you know if Illinois requires your business to be incorporated as a Professional Limited Liability Company (“PLLC”)? The Illinois Department of Financial and Professional Regulation (the “IDFPR”) issues licenses to certain professionals such as hair salons, barbers, estheticians, chiropractors, physical therapists, dentists, and many more.
Not sure whether you need an IDFPR-issued license? Check out the IDFPR’s list at this link.
Aside from ensuring that your business has the correct IDFPR-issued license, you’ll also need to make sure you’re incorporating your business with the correct legal entity. Illinois businesses that are licensed by the IDFPR must incorporate as a PLLC with the Illinois Secretary of State.
And if your IDFPR-licensed business was already formed as a regular LLC, S Corporation or other legal entity in the past – well, you’ll need to convert your legal entity to a PLLC.
And remember that when you create a PLLC for your professional services business, you’ll also need to register your PLLC with the IDFPR.
Interested in learning whether the professional services you offer, your business or your legal entity comply with Illinois law and fall under the IDFPR’s jurisdiction? We can help you do the assessment and form the legal entity that is best or required for your specific business!
Please contact Serna Legal Services at (312) 601-9859 or firstname.lastname@example.org if you’d like to learn more about what our services and legal entity options for your business.
This content is published by Serna Legal Services, LLC and is available for informational purposes only and is not considered legal advice on any subject matter. By viewing this content, the reader understands there is no attorney-client relationship between the reader and the publisher. The content should not be used as a substitute for legal advice from a licensed professional attorney, and readers are urged to consult their own legal counsel on any specific legal questions concerning a specific situation.