Your Virginia LLC name can identify the type of products and services your business will provide; or it may be the name of the founder; or it can be a combination of the two or something else.

In any case, the Virginia LLC name that you choose must be distinguishable from the name of any other registered Virginia LLC or other registered Virginia business entity, such as a Virginia Corporation or LLP.  The LLC name must also be different from any reserved names on record with the state of Virginia.  Your Virginia LLC name must not imply that it was formed for a purpose other than that stated in your Articles of Organization; and your Virginia LLC name must not be a name that is likely to mislead the public.

The name of a Virginia LLC must include the word "LLC" or "Limited Liability Company" or an abbreviation of one of these words.

It's important to choose a good name for your Virginia LLC because if you want to change it after you Form a LLC in Virginia you will have to file amended Articles of Organization with the Virginia State Corporation Commission (and pay a fee).

Every Virginia LLC must have an address that is physically located in the state of Virginia.  This address is "registered" with the Virginia State Corporation Commission.  The Registered Address is where official and legal correspondence can be delivered.

The individual or company that is registered with the state of Virginia to receive all correspondence on behalf of the Virginia LLC is called a "Registered Agent" or "Agent for Service of Process".  You may act as your own Registered Agent, however, many Virginia LLCs hire a Registered Agent because they don't have a physical address within the state of Virginia or to provide a distinct level of privacy.

The owners of a Virginia LLC are called Members - not Partners or Shareholders.  (a Virginia Limited Liability Company does not issue stock).  Members make all business decisions and realize the financial benefits generated by the Virginia LLC.  Division of ownership and distribution of profits are decided by private agreement among the Members.  Each Virginia LLC must have at least one Member.  Members need not live in the state of Virginia or be citizens of the United States.

Managers are responsible for the day to day operation of the Virginia LLC.  Members elect or appoint Managers and have the power to remove them.  Managers may or may not be Members of the Virginia LLC.  Management for your Virginia LLC may be defined in your Articles of Organization or, more commonly, in an Operating Agreement.

The IRS does not recognize a Limited Liability Company as a classification for federal tax purposes.  Virginia LLC Members can elect for the IRS to tax the LLC as a sole proprietorship, partnership, C Corporation, or S Corporation.  This decision may be made after the Virginia LLC is created.  If a single Member Virginia LLC does not declare a tax classification it is taxed the same as a sole proprietorship.  A multiple Member Virginia LLC that does not declare a tax classification is taxed as a general partnership.  More specific federal LLC tax information can be found at the IRS web site.

A Virginia Limited Liability Company is a type of business that is authorized by the state of Virginia - not by the federal government.  In order to form a LLC in Virginia you must file Articles of Organization with the Virginia State Corporation Commission. The Articles of Organization must include certain specific information about your Virginia LLC.  If the Articles do not conform exactly to state of Virginia requirements they will be rejected.  You may subsequently amend the Articles of Organization for your Virginia LLC but you will have to pay a fee to the state of Virginia in order to make the changes official.

A Federal Employer Identification Number, also known as a Federal Tax Identification Number, is used by the IRS to identify a business entity.  An FEIN is like a Social Security Number for your Virginia LLC.  All Virginia LLCs electing to be taxed as a C-Corporation or S-Corporation are required to have a FEIN.

If you do not elect to have your Virginia LLC taxed as a Corporation you may still need to get a FEIN if it is composed of multiple members or if you plan to have employees.

If you plan to form a Single Member Virginia LLC you may not need a separate FEIN for the LLC if you have no employees.  The sole Member of a Single Member Virginia LLC may be able to use his or her Social Security Number instead of applying for an FEIN.  You may request a FEIN for your Virginia LLC for banking or state tax purposes, but an FEIN may not be required for federal tax purposes depending on your business circumstances.

An Operating Agreement defines the rules by which your Virginia LLC will operate.  It is the core document that is referred to when issues concerning your LLC need to be resolved.  Operating Agreements may include requirements for almost anything that involves the management and operation of your Virginia LLC.  By having an Operating Agreement all Members will be provided with a clear set of rules they have agreed upon thus reducing the likelihood of disagreement in the future.

Items commonly included in an Operating Agreement for a Virginia LLC:


Although an Operating Agreement is not required in the state of Virginia, if you plan to form a multiple Member Virginia LLC it is highly advisable to have one.  Having an Operating Agreement will save you a lot of time and money should conflict arise down the line.  As your Virginia LLC grows over time, you may amend your Operating Agreement as necessary.

When your Virginia LLC has an Operating Agreement your business will be governed by your own rules and not some canned business rules created by the state of Virginia.

It's very important that you have a separate business bank account for your Virginia LLC.  Mixing personal and business funds may get you in a lot of trouble with the tax man down the line.  It's a good idea to contact the bank before you open a business bank account for your Virginia Limited Liability Company.  Specific requirements vary from bank to bank. 

In most cases you will need a FEIN, a copy of your Virginia LLC Articles of Organization, and a resolution identifying authorized signers if those names are not listed in the Articles.

Note that forming a Virginia LLC doesn't take the place of obtaining a business license, tax registration certificate, or other required business permits.  A Virginia LLC merely creates an ownership structure that limits the owner's personal liability.  You may still need to take care of getting set up to do business with your local government.

Depending on the nature of the business and the location of your Virginia LLC you may need to get one or more city business licenses or permits.  The business licenses or permits that are required for your Virginia LLC vary depending on your business activities and the specific locations within the state of Virginia in which you want to conduct business.

If your Virginia LLC will be selling products in Virginia you may be required to obtain a Reseller's Permit from the appropriate Virginia state agency.  If your Virginia LLC will be selling products in Virginia you will also be responsible for all applicable local and state of Virginia sales taxes if there are any.

Every Virginia Limited Liability Company (LLC) is required to file an Annual Report with the Virginia State Corporation Commission EACH year.

The VA LLC Annual Report is due at the Virginia Corporation Commission on or before the last day of the 12th month after the Articles of Organization were approved by the state of Virginia.

For example, if the Virginia LLC was approved by the VA Corporation Commission on April 4, 2014 then the first Annual Report is due by April 30, 2015 and EACH following year.