Filing a Virginia LLC
Virginia is an excellent state for business. Filing as a Virginia LLC can be particularly advantageous for new business owners. The process of registering to be a Virginia LLC is rather straightforward. The LLC structure also provides significant liability protection. If you have been waiting to open your own business, now could be the perfect time to do so.
Steps To Filing a Virginia LLC
Choose A Name
When creating a Virginia LLC, the first thing you need to do is select a company name. In the state of Virginia, the name must include an indicator of the LLC structure you chose. You will need to add something like “Limited Liability Company” or “L.L.C.” to your name for it to be valid. Furthermore, no two businesses in the state of Virginia can have the same name. To ensure that you do not pick the same name as another company, you can use the DoMyLLC Name Availability Check Page.
Choose A Registered Agent
After choosing a name, you’ll need to select a registered agent for your Virginia LLC. Registered agents serve on behalf of a company, accepting legal correspondence. It’s crucial that you choose a registered agent you can trust. Otherwise, you could miss critical deadlines that could harm your business significantly. Consider hiring a professional third-party service like DoMyLLC to handle your registered agent needs.
File Articles Of Organization & Pay Filing Fees
Once you’ve secured a registered agent, you can move forward filing the Articles of Organization with the State Corporation Commission. There is a $100 filing fee to do so. Information you’ll need to add includes:
- The name of the company
- Registered agent information, including name and address
- Principal office address
- Names and signatures of organizers
File Initial Report
Virginia LLCs do not have to file an Initial Report, but they should remember when they need to submit their first Annual Report.
Create An Operating Agreement And Hold Meetings
An operating agreement can be a useful document that helps clarify the corporate structure of your Virginia LLC. After defining members’ roles, you can begin holding meetings and taking minutes.
Obtain Employer Identification Number
The IRS provides Employer Identification Numbers to all Virginia LLCs. You’ll need this number if you wish to open a business bank account. You’ll also need this number to file taxes.
File State Required Annual Reports
After your first year of business, you’ll need to file an Annual Report with the State Corporation Commission. The report is due at the end of your anniversary month and costs $50 to register. There is a late fee of $25 if you do not submit on time. Additionally, if you do not file within three months, the state of Virginia can dissolve your business. Be sure to read about and understand annual reporting requirements.
Ongoing Maintenance
In addition to the Annual Report, Virginia LLCs must also renew their business license and permits on a yearly basis. They will also have to file taxes at the federal, state, and local levels each year.
How DoMyLLC Can Assist With Streamlining The Process
Trying to keep track of administrative responsibilities while also running your business can be overwhelming. That’s why DoMyLLC offers streamlined services, such as:
- Name availability check
- Articles of Organization preparation
- Filing of the Articles of Organization with the Secretary of State’s office
- Sample documents, including a sample Operating Agreement, meeting notices, and meeting minutes
- Dedicated account manager
- Unlimited customer support
No matter if you are forming your LLC or need assistance with maintenance, DoMyLLC has the solutions for you.