Final answer:
Professional service LLCs may be formed by licensed professionals in fields requiring a state license, such as in medicine, law, accounting, and engineering. Each state has specific regulations about which professions can form an LLC and the requirements to do so, thus it's vital to check local laws.
Step-by-step explanation:
Professional service LLCs (limited liability companies) may generally be formed by licensed professionals who provide a personal service that requires a professional state license to practice. These professionals typically include doctors, dentists, attorneys, accountants, architects, engineers, and other similar professions where the individual's expertise and professional judgment are principal assets of the business. The specific requirements for forming a professional LLC vary by state, as each state has its own guidelines and statutes governing the creation and operation of these entities. In many instances, all members of a professional LLC must be licensed in the given profession.
It is important to note that not every state allows every type of profession to form an LLC. Some states have restrictions, and professionals interested in forming an LLC should check the specific regulations in their state. Additionally, when forming a professional LLC, it might be required to clearly state the service being provided as part of the company's name and to obtain the necessary state and local business licenses.