HOW TO FORM AN LLC IN VIRGINIA
Forming an LLC in Virginia requires the completion and filing of the Articles of Organization with the Virginia State Corporation Commission (SCC). It costs $100 to file, and if you file online, your LLC is formed instantly. If you file by mail, processing requires 1-3 weeks for your LLC to be formed.
Once the Virginia LLC Articles or Organization have been officially filed, the next steps to establishing and maintaining your LLC in Virginia include:
- Drafting and Finalizing an Operating Agreement
- Obtaining an EIN
- Opening a Business Banking Account
- Paying the Annual Registration Fee
VIRGINIA REGISTERED AGENT
LLC FORMATION PACKAGE
Stress Free LLC Formation
Start to Finish:
Why choose Virginia Registered Agent LLC?
For one, we’re really good at what we do. We’re in the business of making business, so it makes sense that our LLC formation service would be the fastest, the most efficient, and the most affordable.
Our Virginia LLC Formation Package Includes:
- Same-Day LLC Formation
- Secure & Safe Client Account
- 365 Days Registered Agent Service
- Annual Registration Fee Reminders
- Official Documents Emailed Directly to You
- Fair & Transparent Pricing
|Virginia SCC Filing Fee||$103|
|Our Formation Service Fee||$100|
|One Year Registered Agent Service||$49|
VIRGINIA LLC ADVANTAGES
When you form an LLC in Virginia, you are not required to provide any personal information. This means that your name and address will be kept off public record.
LLCs formed in Virginia can be formed online, in real-time, and are not required to file annual reports. It doesn’t get more convenient than that.
Unlike corporations,LLCs are not required to elect a board of directors of hold shareholder meetings. This means fast-decision making options and more time to focus on growing your business.
HOW TO FORM AN LLC IN VIRGINIA:
A DO-IT-YOURSELF GUIDE
TO FORMING YOUR LLC
IN VIRGINIA, USA
Completing the Articles of Organization
The Articles of Organization is the document that is filed with the Virginia Corporation Commission to form an LLC. You can download a PDF of the document and submit it for filing online, via mail, or in-person. Or, you can complete and file the Articles of Organization completely online, through Virginia’s State Corporation Commissionn (SCC) eFile system and your LLC will be recorded and active instantly.
However, before you can file the Articles of Organization, you will need to choose a name and a registered agent for your business and decide where your principal office will be located.
Choose a Name
All LLC names must include one of the following words or abbreviations:
- Limited Liability Company or L.L.C.
- Limited Company or L.C.
Also, the name of your LLC must be different from any other business entity on file with the SCC. You can check and make sure that the name you want is unique by searching the Virginia Business Entity Search website.
Choose a Registered Agent
A registered agent is a third party individual or entity that is chosen by the founders of the LLC to receive legal correspondence and annual report reminders on behalf of the company.
The registered agent for your Virginia LLC must have a physical street address in Virginia. A PO Box address is not valid.
You can serve as your own registered agent if you have a physical street address in Virginia. The downside to this is that, once the Articles of Organization are filed with the Corporation Commission and your LLC is officially formed, your personal information will be public record. This may not be idea for you or your business.
Virginia Registered Agent LLC can provide registered agent service for $49 a year.
List the Principal Office of your LLC
The principal office is the location where the financial and official records of the business are kept. Virginia law does not require that this address is lcoated in Virginia. Howeber, it is good to keep in mind that nay person information listed on the Articles of Organization will become public record upon filing.
If you hire Virginia Registered Agent LLC to form your LLC, we use our address, so you don’t have to list yours.
Sign the Articles of Organization
The Articles of Organization must include at least one signature, wet or digital (depending on your filing method) of an organizer. An organizer is an individual or entity authorized by the founders of the LLC to file the Articles of Organization on behalf of the company.
Filing the Articles of Organization
Once you have all the information you need to form your LLC, you can file the Articles of Organization with the Virginia SCC to make your business official.
There are two options to form your LLC online:
- SCC eFile (Recommended)
You can form your LLC in real-time, online, using the Virginia SCC eFile system, To begin, you will be prompted to create an account. Once you create an account, you can log in and enter the information required on the Articles of Organization into the provided fields. When that is completed, click the “Pay and File” button to proceed.
- SCC eFile (Recommended)
- Upload a PDF
To submit a PDF of the Articles of Organization for filing, visit the SCC eFile Document Submission website. The same fees and options to espedite are available for this method as mailing and in-person submission filing methods.
To file the Articles of Organization by mail, send the completed document and a check payable to Virginia SCC to:
State Corporation Commission
PO Box 1197
Richmond, VA 23218-1197
Remember, do not send cash through the mail. If you are filing the Articles of Organization by mail, you have the option to expedite the filing for an additional fee. To expedite your filing, you must include a completed copy of the Expedited Service Request Form.
To file the Articles of Organization in-person or via courier, bring or send the documents, along with the correct payment, to:
State Corporation Commission
Clerk’s Office, First Floor
1300 E. Main St.
Richmond, VA 23219
You also have the option to expedite the formation of your LLC when you file the Articles of Organization in-person. If you choose to expedite service in-person, the Articles of Organization must be delivered without an envelope with the expedited service request form on top, or delivered in an envelope that is clearly marked, “FORM SCC21.2 ENCLOSED.”
Fees & Processing Times
Articles of Organization submitted via mail, in-person, or online as a PDF will be processed in 1-3 weeks, unless you choose to expedite the filing service.
The option to expedite if only available if you are filing the document by mail or in=person. If you choose to expedite, there is an additional $100 fee for next-day service. Same-day service requires an additional $200 fee.
LLCs formed using Virginia’s SCC eFile system are processed in real-time, so expediting is not necessary.
|Filing Method||Filing Fee||Expedited
|In-Person||$100||$200||$300||Cash, Card, Check|
Establishing & Maintaining Your LLC
There are still a few steps until your business is ready to operate at full capacity. To establish and maintain your LLC, you will need to draft and finalize an operating agreement, obtain an EIN, open a business banking account, and pay an annual registration fee to the Virginia SCC.
Drafting and Finalizing an Operating Agreement
One of the most important things you can do to establish and maintain your LLC is to draft and finalize an operating agreement. While an operating agreement is not required by Virginia Law, it is a quintessentuall element of your LLC’s success.
An operating agreement outlines the financial and managerial operations of an LLC. It also provides procedures and protocol for how to amend the operating agreement; how to become a member of the LLC; what should happen if a member dies or gets divorced; and the decision-making process.
If your LLC does not have an operating agreement and, for any reason, is subject to legal action, the court will rule according to the default Virginia LLC law. This may not be what’s best for you or the future of your business. It is good to keep that situation in mind and take preventative measures by drafting and finalizing an operating agreement for your LLC.
Opening a Business Banking Account
To affirm your LLC’s limited liability, you want to keep your peresonal assets and business assets separate–this includes your money. The best way to maintain this separation is with a bank account. Likely, you’ll need an operating agreement and copies of your Articles of Organization. Also, call your bank before appearing in person as requirements to open a bank account for your Virginia LLC vary by financial institution.
Obtaining an EIN
An Employer Identification Number (EIN) is required to open a business banking account, hire employees, and grow your business. Obtaining an EIN is easy, free, and can be done online. To get your EIN, visit the IRS website.
Paying the Annual Registration Fee
LLCs formed in Virginia are not required to file annual reports with the Virginia SCC. However, they are required to pay an annual registration fee.
For LLCs, the registrations fee is $50 and is due annually on the first day of the month after the LLC was formed. For example, if you formed your LLC in May 2017, your first annual registration fee is due June 1, 2018.
If you do not pay the annual fee by the due date, a penalty will be imposed on your company.
FREQUENTLY ASKED QUESTIONS
ABOUT FORMING AN LLC
How can I contact the Virginia SCC?
The Virginia SCC is open Monday through Friday, from 8:15 AM to 5:00 PM. You can contact the office via phone or email:
How will my LLC be taxed?
LLCs by default are taxed as pass-through entities. This means that all profits “pass-through” the company to each member of the LLC. Profits are then reported to the IRS by members as personal income.
Depending on your anticipated company profits, you may want to elect to have your LLC taxed as a corporation. To do so, you are required to file Form 8832 titled, “Entity Classification Election” with the IRS. This form specifies how the IRS will tax your business entity.
Business tax choices are complex. If you have more questions, or would like additional information, it is a good idea to meet with a professional to discuss the best options for you and the future of your business.
What is the difference between a Virginia LLC and a Virginia Corporation?
LLCs and corporation are very similar in many ways, but also very different in many ways. Both are legal business entities that provide limited liability to members and shareholders and thus separate the assets of the individual from the debts and liabilities of the company.
However, corporations are subject to rules and regulations that LLCs are not. For example, LLCs are not required to hold board meetings, shareholder meetings, or keep meeting minutes. Additionally, particular to Virginia LLC Law, LLCs are not required to submit an annual report, whereas corporations are.
That being said, the extra procedures add prestige to a corporation that an LLC may lack. Many investors are attracted to the formality of a corporation and appreciate the decorum.
Ultimately, it’s up to you to decide which business entity works best for your personal and financial future.
FORM YOUR VIRGINIA LLC TODAY
Virginia Registered Agent LLC offers a fast and efficient LLC formation package.
Form your LLC for $252 today.