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LLCs can be owned and managed by individuals, corporations, or businesses called members, and they do not issue stock or provide shareholder-style investment rights. LLC formation is governed by state law and requires articles of organization filed with Virginia’s State Corporation Commission. The articles must include the LLC’s required legal designation, registered agent details, principal place of business, organizer signatures, and the LLC must obtain a federal EIN for state cross-referencing. A comprehensive operating agreement helps define governance, profit/loss allocation, voting rights, resignations, and authorized contracting.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":36,"@type":70,"position":76},"https://docshare.wps.com/template/forms/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/limited-liability-companies-introductory-overview/301592/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/limited-liability-companies-introductory-overview/301592.png","ImageObject",442,249,{"name":88,"@type":89},"Dipper","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-23","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":79},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What is a limited liability company (LLC) and how is it different from a corporation?","Question",{"text":108,"@type":109},"An LLC blends partnership and corporate principles and can be owned and managed by members. 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LLC’s may be owned and managed by one or more individuals, corporations, or businesses that are referred to as“members” of the LLC. Unlike a corporation, LLC’s do not have shareholder investors nordo they issue stock.\u003Cbr>LLC’s are a popular form of entity for business owners who seek the advantage of limiting their own personal liability for the debts and responsibilities of the company much like in a corporation. Unlike a corporation, however, an LLC’s profits are not taxed at the entity level before being distributed to members. Instead, members of the LLC pay federal and state taxes on their allocated portion of the LLC’s net profits through their individual tax returns. Shielding members from personal liability for the debts and actions of the LLC as well as the avoidance of double taxation on business profits are the two primary benefits of forming an LLC. |\n| HOW A LIMITED LIABILITY COMPANY IS FORMED |\n\nFormation of LLC’s is controlled by state law. If one or more individuals, corporations, or businesses choose to become members of a newly created LLC in Virginia, the first steps toward formation are to draft and then execute the LLC’s articles of organization with the State Corporation Commission (“SCC”) . Virginia provides Form LLC- 1011 for this purpose, but you are not required to use the State’s form.  \nThe articles of organization require the LLC’s unique business name including the designation “limited company,” “limited liability company,” or the abbreviations “L.C.,”“LC,” “L.L.C.,” or “LLC.” This designation serves as a marker for prospective creditors and customers so that they are aware that they are dealing with a limited liability company rather than a sole proprietorship, partnership, or some other business entity that does not place limitations on the personal liability of the business owner(s) for the debts and responsibilities of his or her business. The articles must also include the name and in-state address of the LLC’s registered agent which is  \ntypically either a member or manager of the LLC or an attorney licensed to practice law in Virginia. This registered agent will be designated to receive all official documents from the state as well as service of process if the LLC is ever sued. An LLC cannot be its own registered agent under Virginia law.  \nFinally, the articles must include the address of the LLC’s principal place of business as well as the name and signature of one or more persons who sign the articles as “organizers” of the LLC primarily as an oath that the information contained in the articles is correct. While the organizers are often members of the LLC, an individual may be named as an organizer who is not a member or manager of the business. A non-member organizer does not become a member of the LLC nor does he receive management rights in the LLC before or after it is formed simply by acting as an organizer pursuant to Virginia Code §13 .1-1010.  \nVirginia law also requires all domestic LLC’s to obtain a federal Employer Identification Number (“EIN”) for use by state agencies when cross-referencing businesses. The [application form for a federal EIN can be found at www.irs.gov. Additional](application form for a federal EIN can be found at www.irs.gov. Additional) forms, such as registering with the Department of Taxation ([www.tax.virginia.gov](www.tax.virginia.gov)) and determining liability for Virginia’s Unemployment Tax (Form VEC-FC-27 available at [www.vec.virginia.gov](www.vec.virginia.gov)) should also be completed by the LLC. The official existence of the LLC begins when the Virginia SCC issues a certificate of organization establishing that the LLC has properly completed the articles of","cbCaiguEouceOoGm","https://ap.wps.com/l/cbCaiguEouceOoGm","pdf",158923,6,"English","# INTRODUCTORY OVERVIEW\n# HOW A LIMITED LIABILITY COMPANY IS FORMED\n# ADVANTAGES OF LIMITED LIABILITY COMPANIES","[{\"question\":\"What is a limited liability company (LLC) and how is it different from a corporation?\",\"answer\":\"An LLC blends partnership and corporate principles and can be owned and managed by members. Unlike a corporation, an LLC does not issue stock or operate through shareholder investors.\"},{\"question\":\"What are the initial steps to form an LLC in Virginia?\",\"answer\":\"Formation begins by drafting and executing the LLC’s articles of organization with the Virginia State Corporation Commission (SCC). The LLC must also obtain a federal EIN and complete related registrations and tax-related requirements.\"},{\"question\":\"What must the LLC’s articles of organization include?\",\"answer\":\"The articles must state the LLC’s unique business name with the required “limited liability company” designation or abbreviations, list the registered agent name and in-state address, provide the principal place of business address, and include organizer names and signatures.\"}]","Limited Liability Companies - Introductory Overview | PDF"]