Do I Need a PLLC in Virginia?

You might be asking whether you need to set up a PLLC, or professional limited liability company, if you’re thinking about launching a business in Virginia. An organization structure called a PLLC is created specifically for licensed professionals including doctors, lawyers, and accountants. Whether you require a PLLC in Virginia depends on the kind of business you intend to run and the services you intend to offer.

You must create a PLLC if you intend to offer professional services in Virginia, such as legal or medical advice. This is due to the fact that in order to reduce their personal responsibility, licensed professionals in Virginia are required by law to create a PLLC. A PLLC offers the firm’s owners personal liability protection, which implies that their personal assets are safeguarded in the event that the company is sued.

You do not need to establish a PLLC if you intend to run a business that is not regarded as a professional service, like a restaurant or retail outlet. An ordinary limited liability company (LLC) or a sole proprietorship can be established as a substitute. The simplest and most straightforward business structure is a sole proprietorship, although the owner is not protected from liabilities in this arrangement. If you intend to run a business in Virginia under a name other than your own, you must register as a sole proprietorship. A fictional name or DBA (doing business as) is what this is. You must submit a certificate of assumed name to the Virginia State Corporation Commission in order to register a sole proprietorship there.

You might be wondering how much work you can complete without a contractor license if you intend to work as a contractor in Virginia. If a contractor completes work worth more than $1,000 in Virginia, they must hold a license. Both residential and commercial work is included in this. You need to apply for a license from the Virginia Department of Professional and Occupational Regulation if you want to perform work that calls for a contractor license.

Depending on the region and type of business, different business licenses in Virginia cost different amounts. For enterprises in Virginia Beach, for instance, with annual gross receipts under $100,000, a business license costs $50. A percentage of the gross receipts is used to determine the fee for companies with annual gross receipts of more than $100,000.

You must submit a paper to the Virginia State Corporation Commission in order to obtain articles of organization there. This document contains the fundamental details of your organization, like its name, address, and goals. A filing fee is furthermore due; it varies according on the kind of business and the number of members.

In conclusion, you must create a PLLC if you intend to offer professional services in Virginia. You can set up a conventional LLC or a sole proprietorship if you want to run a business that isn’t a professional service. A certificate of assumed name must be submitted in Virginia in order to register a sole proprietorship. If a contractor completes work worth more than $1,000, they must have a license. Depending on the region and type of business, different business licenses in Virginia cost different amounts. You must submit a paper to the Virginia State Corporation Commission in order to obtain articles of organization there.