A Limited Liability Company, or LLC, is a business entity created under Virginia law which has the characteristics of both a corporation and a partnership. An LLC enables the owner or the members to pass income through to their personal tax returns. You can organize either a one-member LLC, or a multi-member LLC. An LLC has the following advantages:
- LLCs are easy to organize and maintain;
- Members are insulated from the debts of an LLC, just like a corporation;
- Income and losses can be passed through to members as in a sole proprietorship or partnership;
- LLCs are more informal in terms of maintenance;
- An LLC can have very flexible management and you can structure ownership in different ways. For example, you can have a Managing Member who gets a certain level of income and profit, and limited members who receive less income and profit, just like a limited partnership.
Our Virginia Limited Liability Corporation Package includes a customized operating agreement with important provisions that limit the liability of the members from the company’s debts and creditors.
Our Virginia Limited Liability Corporation Package includes as much legal advice as you need to the point where your LLC is organized and up and running. It also includes the following:
- Next Business Day Processing
- Name Search – We’ll check to see if your desired name is available with the Commonwealth. If it isn’t, we will contact you for alternate choices and keep working until we get a cleared name.
- Prepare and File Articles of Organization – We’ll complete all the necessary paperwork to create a new LLC and submit the documents to the Commonwealth for processing. In most cases, your signature will not be required.
- Personalized Organizational Meeting Minutes – We’ll prepare personalized Organizational Minutes so you can properly organize your new LLC (including step-by-step instructions for properly holding this meeting).
- Personalize Operating Agreement – We’ll prepare your Operating Agreement.
Additional Options Available:
Federal Tax ID (EIN) application preparation