LLC Operating Agreement for Dental Practice – One Owner – Taxed as Disregarded Entity

This document is essential for a dental practice that is organized as a professional limited liability company (PLLC).

Why do I need an Operating Agreement for my PLLC?

An Operating Agreement is a PLLC’s primary governing document.  It covers in some detail how the PLLC will conduct its business.  It also outlines the fundamental features of the PLLC. Most importantly, it tells the world that the PLLC has the requisite formality as a business entity.  

One Owner: This model document is intended for a PLLC with only one  owner (member). For a PLLC that has two or more owners, this model document will not be a good fit. 

If you intend to own your dental practice LLC with another dentist or business partner, that PLLC would require a different type of Operating Agreement and multi-member PLLC structuring services. Should you need structuring and custom drafting for a multi-member PLLC, please contact the office.

Disregarded for Tax Purposes: From a tax perspective, this model document is intended for a PLLC with the default tax classification.  In other words, the PLLC is taxed as a disregarded entity.  All of a disregarded PLLC’s income and expenses are reported on the owner dentist’s individual tax return.  

Tax Note: Keep in mind that a PLLC that is taxed as an S corporation or a C corporation would file a separate business tax return. For a PLLC that is taxed as an S corporation or a C corporation, this model document will not be a good fit. 

Ownership Note: If you intend to own your dental practice LLC with another dentist or business partner, that PLLC would require a different type of Operating Agreement and multi-member PLLC structuring services. Please contact the office to inquire about this customized service.

THIS IS A DOWNLOADABLE PRODUCT: You will receive your purchase via email within 10 minutes – a link for immediate download.  If you do not receive this email within 10 minutes in your Inbox, please check your Spam and Junk mail folders.  If the email was not received whatsoever, please email us at [email protected].