ForumsStarting a Business

sry for the offtopic, but I'd suggest starting with a SP, since it is easier to manage, and some expenses are not so great on it. To get a clearer view get a sheet of paper, split it in two
and get LLC on the one side, SP on the other. Make a list of the pros and cons of the two legal forms. Most times it is better to start off as a SP and later switch to LLC. Don't worry about your property - you can always "freez" you SP if it get's on the wrong way. Good Luck.

The filing fee is $100 if you do it yourself. Anything that anyone is charging above that is for their related products and services (like giving you a template for the Articles of Organization you have to file, serving as your registered agent, etc.). It's up to you to decide if their tools and guidance is worth it.

As yMladenov indicated, a sole proprietorship is not that bad an option when you're just launching a new business with only yourself involved -- it's fast, cheap, and easy to manage. Yes, you have the advantage of "limited liability" with an LLC, but since your new LLC won't have any credit history, you'll have to give your personal guarantee anyway to borrow money, get a business credit card, or enter into any kind of substantial contracts. If anything happened that caused it to be sued early on, the circumstances would probably be the direct result of an action you took or didn't take -- so the plaintiff would likely sue you personally, as well as the company. In other words, the advantages of an LLC are real, but not always that important to a brand new one person operation. You can always reorganize when an LLC or other business structure becomes clearly advantageous.

Hope this helps. Best wishes.

According to your state commission . . .

"Any individual who so consents can be appointed the registered agent of a Virginia business entity if, and only if:

• The person is a resident of Virginia; and

• The person is a member of the Virginia State Bar, or is a part of the management of the business entity (e.g. an officer or director of a corporation, a member or manager of a limited liability company, a general partner of a limited partnership, etc.). A Virginia business entity that is authorized to transact business in Virginia may serve as the registered agent of another business entity, but it may not serve as its own registered agent."

You can expect to pay around $125 a year for the service.