What is an LLC?

Find the right LLC attorney in Danville, VA

The Limited Liability Company, or LLC, is a business structure that combines the advantages of many traditional business forms. A LLC has the benefits of a corporation's limited liability, but avoids double taxation like a partnership or sole proprietorship. An LLC can also have an unlimited amount of shareholders, like a corporation. However, the LLC is dissolved if one of those members dies or files for bankruptcy. Many business forms have historically been aimed at the goal of limited liability, but the LLC is the most modern of these forms, having become popular since the enactment of laws in Virginia that authorized its formation.

Can My Business Be Formed as an LLC?

Virginia allows a company to incorporate using the business form it chooses. To begin as an LLC, a company simply files the necessary form with the Secretary of State. However, there may be an additional fee required for forming your LLC, determined by Virginia laws that govern the formation and actions of LLC's. When deciding whether to form a LLC, you should consider which laws would apply to your company. Although it may take some time to find, choosing the right business structure for your company will lead to increased profitability.

Can I Change the Form of My Business to an LLC?

Changing business forms in Danville can be done if a company's situation meets certain conditions. Conversion to a LLC is possible if Virginia law permits it in your situation.

How Can an Attorney Help?

The decision of whether to form or convert to a LLC is best considered with the advice of local attorneys practicing business law in Virginia.

Talk to a Business Law Attorney now!

Life in Danville

Danville is an independent city located in the heart of Southern Virginia and has lots of southern charm. Located on the shores of the Dan river, the city of Danville is host to many outdoor concerts and cultural events that makes the city of Danville a joy to visit all four seasons.

With a population close to 50,000 Danville encompasses 49.3 miles of Virginia. Millionaire's row is one of the more notable aspects of Danville, as the street is lined with well-kept former plantation homes and is a popular area for tourists to drive by during their visit to Danville. A testament to the city of Danville's civil war history, there are many opportunities for residents and visitors to enjoy and explore. There is also a minor league baseball team in Danville-- the Danville Braves.

Danville, Virginia is also home to many fantastic lawyers. Lawyers in Danville specialize in a range of legal issues and are available to serve their local clients. Whether it is real estate issues, contract law, or family law Danville lawyers are competent in every legal issue that you may be presented. Danville lawyers are available for you today.

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