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. Like a corporation, the LLC can also have an unlimited amount of shareholders, called members. Unlike a corporation however, if a member dies, files for bankruptcy, or otherwise leaves the LLC, the company is dissolved. Business forms with limited liability have existed for hundreds of years, but the modern LLC became more popular in Virginia since the legislature enacted laws authorizing its formation.

Can My Business Be Formed as an LLC?

The right business form is a decision left up to each business that openes in Virginia. An LLC is started simply by filing the appropriate form with the Secretary of State. Fees are generally charged for opening LLC's, however, and Virginia law determines the costs for creating LLC's. These laws should certainly help you decide whether to organize as an LLC. The business structure that is appropriate for your business may take some effort to find, but finding the right business form can reward you with increased profitability.

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

Changing business forms in Strasburg 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?

Attorneys experienced in Virginia business law can give you valuable input on whether your business would be more profitable as a LLC.