INSTRUCTIONS TO FORM LLC-1014 1 GUIDE FOR ARTICLES OF-2025

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Articles of Amendment is a common form used in many states to inform the Secretary of State (or similar office) about changes in your business. The exact name of this form may differ depending on your state.
The Disadvantages of the LLC Business Structure A major disadvantage of an LLC is that owners may pay more taxes. It can be harder to attract investors with an LLC structure. There tend to be high filing and renewal fees associated with forming and maintaining an LLC.
Cost: An LLC usually costs more to form and maintain than a sole proprietorship or general partnership. States charge an initial formation fee. Many states also impose ongoing fees, such as annual report and/or franchise tax fees.
You dont need an LLC to run a small business. However, an LLC can provide many benefits, including liability protection and tax advantages. Structuring your business as an LLC provides flexibility in tax classification.
You can get an LLC in Virginia in 2-5 business days if you file online (or 2 weeks if you file by mail). If you need your Virginia LLC faster, you can pay for expedited processing.
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Simply put, yes, you can have an LLC with no income, but that still has expenses. An LLC with no income but deductible expenses can offset future income through a net operating loss deduction. However, the IRS will still regard this as business activity, so it must be reported yearly.
LLCs Can Complicate Investor Tax Situations Investors frequently do not want to complicate their personal tax situation by becoming a member in an entity taxed as a partnership, and LLCs are most frequently taxed as partnerships.

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