How to Create a Series LLC in Virginia

What Is a Series LLC?

A Series LLC is a unique form of a limited liability company that allows for the creation of multiple, distinct series or cells within a single LLC. Each series operates independently, with its own assets, liabilities, and members. This structure allows for the segregation of assets and liabilities among different series, providing a flexible and cost-effective way to manage multiple business ventures under one umbrella entity.

Does Virginia Allow Series LLCs?

As of the current date, Virginia does not authorize the formation of Series LLCs under its state laws. The Virginia Limited Liability Company Act does not include provisions for the creation of Series LLCs, which means that businesses seeking to form a Series LLC must consider other jurisdictions that permit such structures.

Virginia Series LLC Filing Fees and Costs

Since Series LLCs are not permitted in Virginia, there are no specific filing fees or costs associated with their formation in the state. Businesses should consult the fee schedules of states that allow Series LLCs for accurate information.

Virginia Franchise Tax and Series LLCs

Virginia does not impose a franchise tax on Series LLCs, as they are not recognized under state law. Businesses should review the tax obligations in states where Series LLCs are permitted.

Additional Resources

• Virginia State Corporation Commission
• Virginia Business Entity Forms
• Virginia State Statutes
• Virginia Online Filing System
• Virginia Department of Taxation
• Contact: Virginia State Corporation Commission, Phone: (804) 371-9733, Email: sccinfo@scc.virginia.gov

This article provides general information about Virginia LLC formation requirements under the Virginia Limited Liability Company Act. It is not intended as legal advice. Persons forming an LLC should consult with a private attorney regarding their specific circumstances.