Can an LLC own another LLC in Virginia?

As for the legality of ownership, an LLC is allowed to be an owner of another LLC. LLC owners are known as “”members.”” LLC laws don’t place many restrictions on who can be an LLC member. LLC members can therefore be individuals or business entities such as corporations or other LLCs.
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The answer is indeed. A Virginia LLC may possess another Virginia LLC. As a nested LLC structure, this is. Businesses frequently organize themselves for tax and liability reasons using the layered LLC structure.

It’s crucial to keep in mind, though, that having a nested LLC structure might complicate matters when it comes to taxes and reporting requirements. Each LLC must submit its own tax returns, and there can be additional costs.

How much does it cost to incorporate in Virginia taking this into account?

Depending on the sort of business entity you are founding, Virginia incorporation fees can change. An LLC must pay a $100 filing charge whereas a corporation must pay a $75 filing fee. For services like expedited processing or others, there can be extra costs.

Do I require a registered agent in Virginia for my LLC?

Yes, a registered agent is necessary for every LLC in Virginia. A person or business selected as the LLC’s registered agent will receive legal and tax paperwork on its behalf. The registered agent must be accessible during business hours and have a physical address in Virginia where they can receive paperwork.

What is the role of Harbor Compliance?

A company called Harbor Compliance offers businesses compliance services. They provide a variety of services, including as entity formation, registered agent services, and compliance counseling. Their objective is to assist companies in maintaining compliance with local, state, and federal laws.

Can a registered agent also serve as the owner, then?

Yes, the LLC’s owner may also serve as the registered agent. The address of the registered agent, however, should be noted as it will be public record and might be utilized for legal and tax paperwork. The owner might wish to think about employing a different registered agent if they prefer to keep their address confidential.

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