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Virginia Business Formation
A Virginia Business Attorney from our firm is an expert in the formation and representation Virginia Businesses. Our Virginia Business Attorneys not only have expert legal knowledge of Virginia Business Law, but as Virginia small business owners with advanced education and experience in Virginia business administration, our business attorneys also understand the daily issues and challenges faced by Virginia Businesses.
Virginia Business Entitites
Virginia has several different business entities. Expert understanding of the differences between the different business entities can translate into long term survival of your business. A Virginia business lawyer from our firm is an expert in understanding Virginia Business entities and advising our client in selecting which is the right entity given a client's particular situation.
Virginia Corporations
- Virginia Chapter C-Corporation
A Virginia C-Corporation is a Virginia business entity separate from
its owners. As such, a Virginia C-Corporation
can be taxed, sued, and can enter into contracts. Virginia C-Corporations are owned by shareholders. The shareholders elect a board of directors.
Some advantages of a Virginia C-Corporation are
- The Owners of a Virginia C-Corporations have limited personal
liability for business obligations.
- A Virginia C-Corporation can deduct the cost of employee benefits as
a business expense.
- Virginia C-Corporations can raise additional funds by selling stock.
- Virginia Chapter S-Corporation
A Virginia subchapter "S" Virginia, also known as a Virginia S Corporation is a Virginia Corporation that has elected a special tax status. In a Virginia S Corporation the profits pass directly to the shareholder's personal tax
return.
Some advantages of forming a Virginia S-Corporation are:
- The owners of a Virginia S-Corporation have limited personal liability for business obligations
- Owners of a Virginia S-Corporation can save on employment
taxes by taking distributions instead of salary. - A Virginia S-Corporation does not have the threat of double
taxation since the corporation is not
a separate taxable entity.
Virginia Limited Liability Company
A Virginia Limited Liability Company (LLC) provides the limited liability features of a Virginia Corporation and the tax
and operational efficiency of a Virginia Partnership. Usually, the main reasons for forming a Virginia LLC are obtaining the personal asset protection afforded by a Virginia Corporation and the tax treatment afforded by a Virginia Partnership.
The main advantages of forming a Virginia LLC are
- Owners of a Virginia LLC have limited liability for business obligations and business debts.
- With a Virginia LLC there is no threat of double taxation because the Virginia LLC is not a separate taxable entity.
Other Virginia Business Entitites
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