In Virginia, registration a DBA is not required, but it is advised in order to safeguard your company name and prove your legal right to use it. In Virginia, registering a DBA is a straightforward procedure that can be completed online through the State Corporation Commission.
A DBA does not shield your company from liabilities and is not a separate legal organization. A Limited Liability Company (LLC), on the other hand, is a distinct legal entity that offers its owners liability protection. This indicates that an LLC’s owners are not held personally responsible for the debts and liabilities of the company.
In Virginia, a husband and wife may establish an LLC as a “joint venture” and are regarded as its sole members. This indicates that they are not needed to file a partnership tax return and can instead file a single tax return for the LLC. However, the LLC might need to submit employment tax filings if it employs workers.
Technically speaking, you can use someone else’s name for your company. But doing so carries some danger and can result in trouble with the law. If someone else owns your company, they may have the legal authority to make decisions about it without consulting you. Additionally, your company can be impacted if the person whose name you gave your firm has legal problems.
It might be a good idea to have both of your names on the LLC if you and your spouse are both actively involved in your firm. In this manner, you each have an equal say in corporate decisions. Furthermore, having both spouses as members of the LLC provides increase protection in the event of legal challenges or disagreements. However, it might not be required to have both names on the LLC if just one spouse works for the company.