How to Set Up an LLC in Virginia

We’ve put together a free step-by-step guide on how to set up an LLC in Virginia. We want you to have a clear idea of how to set up and manage an LLC for your state. We’ve tried to make sure you have the information you need right at your fingertips. Each step has instructions and links to the sites for you to fill out the forms in the correct order. So, let’s set up your Virginia LLC right now! 

A few points to remember before setting up your LLC in Virginia 

When you set up an LLC in Virginia you’ll need a few things before you get started.  This section will help you get your checklist in order.

A Unique Business Name 

Every business in the state must be unique. You’ll need to search for a Virginia LLC name. Go to the links below to make sure yours is not taken. 

• Virginia SCC: Business Entity Search 
• Virginia SCC: Name Availability Search 

An LLC Designator 

You must have an LLC designator in your name in one of the following formats. 

• LLC (most common) 
• L.L.C. 
• LC 
• L.C. 
• Limited Liability Company 

 Now that you have your unique business name, it’s time to register it with the state of Virginia. Let’s get down to business. 

A Registered Agent 

In most states, a registered agent is a person or a company that accepts “Service of Process” for your Virginia LLC. A registered agent will receive any subpoenas, notices, and other legal, and tax documents sent to your business by the Virginia Department of Taxation. 

If you’re opening a business in Virginia but you aren’t a resident, you’ll need to get a registered agent in that state.  The requirements for a registered agent are as follows: 

An Individual: 

• Must be 18 and be a resident of the state 
• Must be authorized to do business in the state. 
• Must have a physical street address located in Connecticut  

 A Company 

• Must be authorized to do business in the state 

If you meet the above criteria, you can be your own registered agent. Or you can set up a friend or family member to be your registered agent. 

You can also hire a commercial Registered Agent. A company that provides their name and address to receive legal documents from the state. 

Step 1: Reserve Your Business Name 

To Set up an LLC in Virginia you need to reserve your business name.  This way during the process no one can steal the name of your company. 

You’ll need to reserve your name by mail (no online reservation). You can fill out the name reservation form and send it to the State Corporation Commission. 

Your name reservation will be up to 120 days and the filing fee is $10. 

Step 2: File Your Articles of Organization in Virginia 

Setting up an LLC in Virginia is easy, especially for single-member LLCs. Just go and sign up for the Clerk’s Information Center.  

 You can just directly file the Articles of Organization even without a reservation.  Easy peasy. 

 If you don’t want to file online, you can download and print out the Articles of Organization form and follow the instructions.  

 Fees: In Virginia, the cost of setting up your LLC and filing the Articles of Organization is $100. It takes instant approval for online filing. While it takes 10-15 business days for mail filing. 

Step 3: Complete Your Virginia LLC Operating Agreement 

An operating agreement is a key document used by LLCs and partnerships. It outlines the business’ financial and functional decisions including rules, regulations, and provisions. This describes how your LLC will operate internally. For more information on operating agreements, you can check out the Small Business Administration’s article on basic operating agreements. 

Step 4: Get Your Federal Tax ID Number (EIN) 

Once your LLC has been approved it’s time to get your Federal Tax ID Number from the IRS.   

Your EIN is the social security number of your business.  Keep it well protected.  You’ll use this number to open bank accounts, file tax documents, apply for loans, and many other uses.  It also protects your social security number when doing business with other businesses like merchant accounts, 1099s received, etc. 

To apply for your EIN you can go to IRS EIN/Tax ID Application.  Make sure you pick the correct Business Entity Type.   

Taxes, Permits, and Licensing in Illinois

To do business in Virginia you will need to file tax returns, and hold permits and licenses in your county or city.  

Your Virginia LLC is required to pay an annual registration fee on whether your LLC does nothing or makes no money at all. To file the annual registration fee online, go to Clerk’s Information System. 

If you want to file by mail, send the Notice of Assessment you received from your registered agent along with your cheque payment. 

Fees: The annual registration fee is $50 and is due on your anniversary month. You will pay an extra $25 penalty for late payment. But your LLC will be dissolved if not paid 3 months after the due date. 

Virginia LLC must apply for the necessary business licenses and or permits.  This depends a lot on the type of business and the location of your business. 

 Aside from business licenses and permits, all LLCs must also pay appropriate taxes and meet obligations with the Virginia Department of Taxation. 

Putting it All Together

Now that you can set up an LLC in Virginia online it shouldn’t take more than a day or two to get up and running.  The State Corporation Commission in the Commonwealth of Virginia’s website is very easy to navigate and following the five steps above will help you get your talents and ideas to market faster.