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The Virginia LLC act is a legal document put in place by the state of Virginia that lays out the requirements and provisions for Limited Liability Companies (LLCs) in the state.
ZenBusiness: Create your LLC in Virginia Step 1: Choose a name for your LLC. Step 2: Appoint a registered agent. Step 3: Determine if you need a Virginia business license. Step 4: File your LLC articles of organization. Step 5: Draft an LLC operating agreement. Step 6: Comply with state employer obligations.
A Limited liability company (LLC) is a business structure that offers limited liability protection and pass-through taxation. As with corporations, the LLC legally exists as a separate entity from its owners. Therefore, owners cannot typically be held personally responsible for the business debts and liabilities.
S Corporations, Partnerships, and Limited Liability Companies. Every pass-through entity (PTE) that does business in Virginia or receives income from Virginia sources must file an annual Virginia income tax return on Form 502.
The main difference between a PLLC and an LLC is that the PLLC Act imposes restrictions on who may be an owner of a PLLC. A PLLC is only for professionals recognized in Virginia through applicable licensing or certification. Accordingly, for most Virginia PLLCs, all members must be professionally licensed.
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Virginia is a good state for LLCs for a few reasons, including low filing costs, ease of reserving a business name, and no business license requirements for starting an LLC.
Benefits Owners in an LLC arent personally liable for business debts and business lawsuits. LLCs have fewer compliance requirements than corporations. LLC earnings arent subject to double taxation in the way that C-corporation earnings are. LLCs can choose whether to be taxed as a pass-through entity or corporation.
How much does it cost to form an LLC in Virginia? The Virginia State Corporations Commission charges $100 to file the Certificate of Formation. You can reserve your LLC name with the Virginia State Corporations Commission for $10.
Benefits Owners in an LLC arent personally liable for business debts and business lawsuits. LLCs have fewer compliance requirements than corporations. LLC earnings arent subject to double taxation in the way that C-corporation earnings are. LLCs can choose whether to be taxed as a pass-through entity or corporation.
Delaware is the most popular state to file an LLC in because it has a strong reputation for being business-friendly and offers a fast filing process with increased protection for owners. Wyoming offers low fees and great tax benefits for people looking to start an LLC.

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