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Home > Legal Issues > Legal Entities > LLC

Overview

Virginia, like every other state in the U.S., has adopted a Limited Liability Company (LLC) law. Thus, in addition to the traditional choices of a sole proprietorship, partnership or corporation, a business that is operated in Virginia may also choose to operate in the form of an LLC. In most states, this a very attractive legal entity for many small businesses, in that they offer the same protection from creditors for debts of the business as a corporation, while offering much of the flexibility plus the "flow through" tax treatment of a partnership for federal tax purposes. To form an LLC, one or more persons (who need not be members of the LLC) must file Articles of Organization with the State Corporation Commission. Foreign LLC's, those formed under the laws of another state, must obtain a certificate of authority to do business in Virginia. For more information on filing Articles of Organization for an LLC contact either the State Corporation Commission or your attorney.