An Ultimate Guide To Incorporate An LLC In The State Of Virginia

A limited liability company is an unincorporated association of one or more members/owners  who share the profits and losses of the company’s business. An operating agreement can be prepared by the management to manage the Limited Liability Company. It can either be manged by members/owners or managers, and a manager(s) can be appointed to look after financial and operational activities of the Limited Liabiltiy Company. It is a separate entity, and generally, the members and managers are not liable for the obligations of the limited liability company.

How to prepare an Articles of Organization to create an LLC in the State of Virginia?

• The name of the Limited Liability Company must contain the words limited company or limited liability company or the abbreviation L.C., LC, L.L.C. or LLC).

•  The initial registere agent information including;

  (1)           an INDIVIDUAL who is a resident of Virginia and

   

   a member or manager of the limited liability company.

   a member or manager of a limited liability company that is a member or manager

  of the limited liability company.

   an officer or director of a corporation that is a member or manager of the limited

  liability company.

   a general partner of a general or limited partnership that is a member or manager

  of the limited liability company.

   a trustee of a trust that is a member or manager of the limited liability company.

   a member of the Virginia State Bar.

OR

(2)  a domestic or foreign stock or nonstock corporation, limited liability company or

registered limited liability partnership authorized to transact business in Virginia.

1. A.           The limited liability company’s initial registered office address, including the street and number,

if any, which is identical to the business office of the initial registered agent

B.              The registered office is located in the  county or  city

1. The limited liability company’s principal office address, including the street and number

• Additional provision(s) can be included in the article.
• Organizer(s) signatures are required.

Processing Time

Estimated time to register an LLC with the state of Virginia is 24 Hours.

A Non US Resident

A Non US Resident is also eligible to file and LLC in the State of Virginia without a social security number.

Employer Identification Number

All Limited Liability Companies are required to get an EIN, in order to open a bank account and filing taxes.

Yearly Maintenance

• Annual report of the Limited Liability Company is not applicable in the state of Virginia.
  
• All Virginia corporations and foreign corporations are required to file annual reports with the Commonwealth of Virginia, State Corporation Commission, in order to conduct business in the state of Virginia.

• A Limited Liability Company can be treated as a Corporation or an S Corporation for the tax purposes only.
• Single member Limited Liability Company file Form 1040, Multi Member LLC files Form 1065 as a corporation or a partnership, C Corporation files Form 1120 and S Corporation files Form 1120S.

Sales and Use Tax License in Virginia

State of Virginia impose sales and use tax on taxable products and services including lease or rental of tangible personal property or the use or consumption of tangible personal property in Virginia, as well as taxable services in Virginia.