LLP requirements vary by state. California and New York limit the use of limited liability partnership agreements to professionals. In California, the term professionals is defined narrowly to include only lawyers, accountants or architects. Delaware, Georgia, Pennsylvania, Texas, and Virginia require an LLP to carry insurance or an escrow account to cover liabilities.
Several states have a reduced form of liability protection referred to as limited shield. These include Alaska, Arkansas, District of Columbia, Hawaii, Illinois, Kansas, Kentucky, Louisiana, Maine, Michigan, Nevada, New Hampshire, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah and West Virginia.
Naming your company or firm is an important decision. Often professional businesses have different naming conventions from other types of companies. For example, many law firms use the names of the partners and many medical practices include their specialty in their business names. Legally, you'll need to ensure that the name is not "deceptively similar" to any existing company in your state and is "distinguishable on the record" of your state. BizFilings' incorporation service packages include a preliminary state name check to help with this process.
Because some states only check proposed LLP names against existing LLPs, reserved and active, you can perform a trademark search to make sure the name you want to use is not already taken by another business type. Also, keep in mind that most states require the name you select to show your business is an LLP by including the words "Limited Liability Partnership" or the abbreviation "LLP."
Yes, a registered agent is required when you form your limited liability partnership agreement. The registered agent is responsible for receipt of important legal and tax documents, must have a physical address in the state of incorporation and be available during normal business hours. As your registered agent, BizFilings not only satisfies your state's legal requirement to but also provides a number of benefits at no additional charge to you. We include our monthly Registered Agent Watch email with compliance information specific to your company, access to BizComply─our online compliance management tool, electronic Service of Process (notice of litigation) delivery, online access to your account and more.
Having BizFilings as your registered agent is important if you:
The following Learning Center materials can help you understand limited liability partnership formation and other business types:
The following products/services are included in our incorporation service packages or are available as add-ons:
We have resources to help you understand your options.