Form a Virginia LLC or a Corporation?
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Form a Virginia LLC-An Introduction
The Virginia LLC is designed specifically for small business. It has all the advantages of a corporation but without the disadvantages.
Both the limited liability company and the corporation offer the same level of liability protection. They are both business protection vehicles and provide a layer of protection between you personally and your business. This is a must have today given the growing number of lawsuits.
CLICK HERE for a FREE Virginia LLC Guide, FREE Name Search and Learn about 3 Day Virginia LLC Formation
Both the limited liability company and the corporation offer the same level of liability protection. They are both business protection vehicles and provide a layer of protection between you personally and your business. This is a must have today given the growing number of lawsuits.
CLICK HERE for a FREE Virginia LLC Guide, FREE Name Search and Learn about 3 Day Virginia LLC Formation
Contents at a Glance
Form a Virginia LLC-The Key Advantages
VIRGINIA LLC IS A SIMPLER LEGAL ENTITY
Virginia corporations require several legal formalities under statutes. Fortunately, a Virginia LLC does not. It is less complicated to form and a great deal easier to maintain.
VIRGINIA LLC IS MORE FLEXIBLE
If you form a Virginia LLC, it provides great flexibility. An owner can run his business according his own rules.
With a Virginia corporation, there is a set of statutory structures, processes and maintenance requirements including a required Board of Directors.
VIRGINIA LLC HAS MORE TAX CHOICES
LLCs are popular in Virginia because of changes to IRS laws in 1997. At that time, the IRS set up "Check the Box Regulations" that let owners of Virginia LLCs decide how to file taxes; whether at a single-level taxation, as an S corporation or as a C corporation.
Now, a business can obtain the benefits of corporation taxation but still keep all the state law benefits and simplicity of the limited liability company.
VIRGINIA LLC CAN RESULT IN LESS ANNUAL FEES
In the State of Virginia, there is a minor yearly fee you must pay to renew the registration of your Virginia LLC. The fee is set at $50. The fee does not change, no matter how many members you have or how many shares you have issued.
With corporations, the annual fee starts at $100 and can go up depending on the size of the corporation's equity structure. As it gets more intricate and more and more shares of stock are issued, the fees increase. It can even get as high as $1700 per year.
CLICK HERE for a FREE Virginia LLC Guide, FREE Name Search and Learn about 3 Day Virginia LLC Formation
Virginia corporations require several legal formalities under statutes. Fortunately, a Virginia LLC does not. It is less complicated to form and a great deal easier to maintain.
VIRGINIA LLC IS MORE FLEXIBLE
If you form a Virginia LLC, it provides great flexibility. An owner can run his business according his own rules.
With a Virginia corporation, there is a set of statutory structures, processes and maintenance requirements including a required Board of Directors.
VIRGINIA LLC HAS MORE TAX CHOICES
LLCs are popular in Virginia because of changes to IRS laws in 1997. At that time, the IRS set up "Check the Box Regulations" that let owners of Virginia LLCs decide how to file taxes; whether at a single-level taxation, as an S corporation or as a C corporation.
Now, a business can obtain the benefits of corporation taxation but still keep all the state law benefits and simplicity of the limited liability company.
VIRGINIA LLC CAN RESULT IN LESS ANNUAL FEES
In the State of Virginia, there is a minor yearly fee you must pay to renew the registration of your Virginia LLC. The fee is set at $50. The fee does not change, no matter how many members you have or how many shares you have issued.
With corporations, the annual fee starts at $100 and can go up depending on the size of the corporation's equity structure. As it gets more intricate and more and more shares of stock are issued, the fees increase. It can even get as high as $1700 per year.
CLICK HERE for a FREE Virginia LLC Guide, FREE Name Search and Learn about 3 Day Virginia LLC Formation
Form a Virginia LLC-A Summary
If you form a Virginia LLC, it gives you versatile protection for your small business. If your business is larger or more complicated, a corporation might suit you better. The Virginia limited liability corporation is better for the average small business.
CLICK HERE for a FREE Virginia LLC Guide, FREE Name Search and Learn about 3 Day Virginia LLC Formation
CLICK HERE for a FREE Virginia LLC Guide, FREE Name Search and Learn about 3 Day Virginia LLC Formation
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