Register LLC in VA: Everything You Need to Know
Register LLC in VA is something you must do if you wish to start a limited liability company (LLC) in Virginia.3 min read
Register LLC in VA is something you must do if you wish to start a limited liability company (LLC) in Virginia. Virginia's LLC formation process is different from that of other states. As such, it is important that you have a clear understanding of the paperwork and procedures you need to complete before you start registering. Proper registration can prevent unnecessary hassle and ensure the smooth running of your business.
Forming an LLC
To form an LLC in Virginia, you must select a name for your LLC, register with the State Corporation Commission, and file the necessary paperwork with the State Corporation Commission.
Step 1: Name Your LLC
Naming your LLC is one of the most important steps for forming an LLC in Virginia. Select a name that is appealing to your potential customers and suits the nature of your business. It is also a good idea to choose a name that is easily searchable online, because many of your customers may look for information on your business online.
The name of your LLC must contain “LLC” or “Limited Liability Company.” If the name contains words such as “Bank” or “Banque,” you are required to complete additional paperwork or have a licensed professional, such as an engineer or doctor, as one of the members of your company. Avoid using prohibited terms such as “State Treasury,” “FBI,” or other state or federal agency names.
You can use the name search tool to make sure your selected name is still available. To avoid potential trademark issues, you can use the TESS System to perform a quick search. In addition, you should find out if your LLC's name is available as a URL and reserve the desired domain name for your company's website. Even if you do not intend to create a website right away, it is advisable that you purchase the domain name so that other businesses cannot use it.
Step 2: Register Your LLC With the State Corporation Commission
To register your LLC, you must file Form SCC631 with the Commonwealth of Virginia State Corporation Commission. By doing so, you will reserve the name of your LLC for up to 120 days. You need to include the following in your application:
- The name of your LLC.
- The address of your LLC.
- The phone number of your LLC.
- Your signature.
- A filing fee of $100.
Step 3: Appoint a Registered Agent
A registered agent refers to an individual or business that is authorized to receive and send official documents on behalf of your company, such as annual state filings. You can nominate a resident of Virginia or a company that is operating legally in the state as your registered agent. The agent can also be someone within your LLC, such as yourself, partner, or colleague.
Step 4: Obtain an Employee Identification Number (EIN)
If there are two or more members in your LLC, you must apply for an EIN with the IRS so that you can file taxes. This number acts as your company's social security number and enables the IRS to identify your business for tax purposes.
Step 5: Register for State Taxes
If you are planning to hire employees or sell a physical product that is subject to sales tax in Virginia, you must register for state taxes. You can get information about tax obligations in Virginia from the Small Business Administration.
Step 6: Draft an Operating Agreement
Creating an operating agreement is not a requirement for forming an LLC in Virginia, but you should draft one with the other members of your company. The state of Virginia regards an operating agreement as a governing document. The document should outline your company's ownership and operating procedures and establish the working and financial relationships between the members of your LLC.
Step 7: Find Out if You Need a Business License or Permit
Different regulations apply to different kinds of business. Depending on the type of LLC you are forming, you may be required to obtain a business license or permit. For instance, if your company is involved in the construction of buildings, it may be mandatory to obtain a building or zoning permit.
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