How to form an LLC in Virginia

LLC stands for Limited Liability Company. Business owner can form an LLC to limit their business liability. Limited Liability Company is one of the business entity type. In Virginia business owner need to register with State Corporation Commission to form an LLC.

Difficulty: Moderately Easy

Instructions

1. The name of the limited company should contain the word Limited Company, Limited Liability Company, L.C, LC, L.L.C or LLC. The registered agent can be the member of the limited liability company or another company that authorized to do business in Virginia (such as business owner's lawyer office).

2. The name of Limited Liability Company must be still available for business owner to be able to register a new LLC name, check with the clerk office at 1-866-722-2551 for the availability.

3. Business owner need to fill out article of organization and register with state corporation commission to form an LLC in Virginia. Go to www.scc.virginia.gov to print out the form, sign it and mail the original form with $100 filing fee payable to SCC.

4. Internal revenue service allow LLC business owner to choose to be taxed as a corporation or as a partnership. Single member LLC can choose to be taxed as a pass through to his or her individual tax. Talk to your CPA or accountant regarding this.

5. Business owner also need to establish EIN or Employer Identification Number for tax purpose after forming a Limited Liability Company. Go to www.IRS.gov to apply online EIN.

[jcrush]

on 6/22/2009 more helpful information, thanks again./*****