IMLC state of principal license (SPL)

[glyco4all]

---

Members don't see this ad.

Hello!

I am just getting started with transitioning to 1099 work and have a question. If I live in a non-participatory state, is it possible to have my SPL in another state? One of the four criteria for establishing SPL is having a business/practice address in that state. Has anyone else created an LLC in a business friendly state (say, WY) and used that address to establish a SPL and therefore be able to participate in the IMLC??

Thank you!

 

[chessknt]

Seems self defeating to set up an LLC in a state you don't practice or live where you will then have to file tax returns and report to medical boards in order to make a one time licensing process easier.

 

[glyco4all]

Ok, ty for your reply! WY doesn't have income tax, so I don't think I'd be needing to file any tax returns there. I'm looking at locum work there, so I'd want a license there anyway. Just trying to understand what you mean.

 

[chessknt]

Ok, ty for your reply! WY doesn't have income tax, so I don't think I'd be needing to file any tax returns there. I'm looking at locum work there, so I'd want a license there anyway. Just trying to understand what you mean.

If you don't reside in the state you either have to work primarily in that state (eg >1/4 time) or be employed by a business in that state. As a locums you would need to create and register an S corp which might not be exempt from filing state tax returns (and could incur significant expenses). You could do this but the question would be is that headache worth the trade off making licensing slightly easier?

 

[maxxor]

If you don't reside in the state you either have to work primarily in that state (eg >1/4 time) or be employed by a business in that state. As a locums you would need to create and register an S corp which might not be exempt from filing state tax returns (and could incur significant expenses). You could do this but the question would be is that headache worth the trade off making licensing slightly easier?

if you need a lot of licenses, IMLCC is way more than slightly easier IMO. Especially for painful states.

To strictly answer the question, if your S corp (or
LLC or whatever) is domiciled in Wyoming and then you are “employed” by that company, then you meet the SPL requirement. It’s ultimately up to the state license board if they will accept that for
SPL.

The other way is to do 25% of your clinical practice there.

 

[glyco4all]

if you need a lot of licenses, IMLCC is way more than slightly easier IMO. Especially for painful states.

To strictly answer the question, if your S corp (or
LLC or whatever) is domiciled in Wyoming and then you are “employed” by that company, then you meet the SPL requirement. It’s ultimately up to the state license board if they will accept that for
SPL.

The other way is to do 25% of your clinical practice there.

Ok, good to know. Ty!!

Glad your interpretation matches, knock on wood hopefully they do. I'll soon find out.