PLLCs are a great choice of business entity for retired attorneys in New York State. We’ve set up numerous PLLCs for retired attorneys who still want to work with a few select clients, but are otherwise retired from practicing law.
PLLCs are popular among attorneys for many reasons. First and foremost, PLLCs give the owner limited liability protection. PLLCs also allow for flow-through taxation by default, which means that the entity itself incurs no entity-level federal or state taxes. Instead, the owner pays self-employment taxes on the income earned. PLLCs are also quick to set up and require much less paperwork than the alternative, a professional corporation.
PLLC maintenance is also very easy in New York. The entity only needs to be renewed with the New York Department of State every 2 years and we handle the entire renewal process for clients using our Registered Agent service.
If you are a retired or retiring attorney and need to set up a PLLC for a law practice send us an email and we’ll schedule a free phone consultation or visit the PLLC Formation Service page for more details.