Don’t play Russian Roulette with your business! Having the right legalities in place can mean the difference between success and failure. Like it or not, the law is the framework within which business operates. It is a tool that when applied correctly and wisely, can protect you and your business. Let Attorney Gibbs help you navigate the legal system and put the proper legalities in place. Let Attorney Gibbs help you maintain operations that are in compliance with the law. I want to partner with you in achieving success. Let’s grow your business together. Schedule your initial consultation today!
Selecting the right structure for your business is one of the most important decisions you will make. Here is a list of some of the characteristics of the main business entities.
Once you select the appropriate structure for your business then comes formation.
The first thing you need to do to start the process to formally set up your business is to pick a name. The name must be distinguishable from other business entity names, either active (excluding general partnerships), designated, registered, or reserved for use by another business entity in the Virginia State Corporation Commission’s records.
Name Availability – You can run a search on the Virginia State Corporation Commission website, using their business entity search option, to see if their records reflect something similar to the name you would like to use.
Name Reservation – You also have the option of reserving the name you selected if you are not prepared to form your business. To reserve your business name, complete the Application for Reservation or For Renewal of Reservation of a Limited Liability Company Name. The application must be filed with the Virginia State Corporation Commission along with a $10, filing fee. You can reserve a name for a period of 120 days. The reservation can be renewed for additional periods of 120 days, by filing the appropriate form and fee.
Now that you have a name, depending on the structure you selected, you will need to formally create your business by preparing and filing certain documents with the Virginia State Corporation Commission. Generally, the documents can be submitted online or via mail. You must select a registered agent to accept legal service of process for the business.
Registered Agent – Every Virginia and foreign business entity that is authorized to conduct business in Virginia is required to have a registered office and registered agent to accept service of process. The registered agent can be an individual or a business entity.
For an individual to serve as your registered agent he or she must meet the following criteria:
For a business entity to serve as your registered agent it must be a Virginia business entity or a foreign business entity authorized to conduct business in Virginia and it must agree to serve in that capacity. A business entity may not serve as its own registered agent.
For additional information on registered agents and registered offices, click here.
An operating agreement is not required in Virginia, but it is strongly recommended. An operating agreement governs how the business’ day to day operations will be managed as well as the relationship of the members and officers to the LLC. An operating agreement is also used to detail, how to elect and remove officers, how profits and losses will be distributed, how membership interests can be transferred, and how to wind down the affairs of the LLC. This is not an exhaustive list of the things that can and should be addressed in the operating agreement. This office can assist you with making sure you have the right operating agreement for your business, schedule an appointment here.
Taxing Authorities – You can apply online with the Internal Revenue Service for a tax identification number (EIN) for your business. You must also register with the Virginia Department of Taxation.
Business License and Permits – Depending on the county or city your business is located in and the nature of your business activities, you may have to obtain a business license and permits. You will need to contact the proper authorities in the county or city where you intend to operate your business to verify the requirements.
Professional License – Depending on the type of business or profession you are in, you made need to be licensed through the Virginia Department of Professional and Occupational Regulation or other licensing entity before you can legally commence operations.
Depending on the structure and nature of your business or profession, you may have annual fees due to the Virginia State Corporation and Commission and/or other regulatory agencies. If you are unsure about whether or not you have all of the right licensing and agreements in place, this office is available to assist you!
If you are looking for an Attorney that works extremely hard for you and will leave no Stone unturned, you have made the Right Choice with Tonya Gibbs. In the Court Room we had all the Confidence in the World the case would turn out in our favor, and it did. We feel confident that she could handle any situation that we would need an Attorney for.
I highly recommend the law firm of Tonya N. Gibbs, PLC. to anyone in need of an attorney. Ms. Gibbs provides excellent service. She is courteous and very efficient. In my case the research she did was more than I expected. She made me feel as if she was fighting her very own case. I have used the services of several attorneys in the past and consider it money wasted, but Ms. Gibbs goes beyond what is needed or expected to win your case.
Exceeded Expectations - Ms. Gibbs helped me with drafting paperwork for my company and was exceedingly helpful in ways that I did not anticipate. She reviewed my forms and edited them thoroughly and offered numerous suggestions. Her feedback was amazing and she discussed items that I could have never thought of. I could not begin to thank her enough for the help and assistance she provided and cannot recommend her services enough. Anyone contemplating going into business should consult with Ms. Gibbs for her knowledge and services as she is invaluable.
Tiffany Harvey via Avvo
Ms. Gibbs was an awesome person from our initial consult. She took her time in asking questions and my desired outcome of my case. She advised me of my options and the different scenarios that may arise during the hearing. When going to our trial for custody and visitation, I was prepared for any ruling that would occur.Ms. Gibbs was over prepared, professional and detailed. I appreciated her being personable and treating me as an individual. She exceeded my expectations. Thanks to Ms. Gibbs, I now have Joint Legal Custody and Visitation of my niece and nephew, whom I had not seen in almost 9 months! I highly recommend Ms. Gibbs to any and everyone. She is my first choice for my family's legal needs.
Michelle via Avvo - Family Court Hero!
Trustworthy, Highly Competent, & Personable Was first introduced to Tonya at a business seminar. Was impressed with her ability to interpret legal jargon into layman’s terms. Contacted her six months later and she remembered my name/situation. Hired Tonya to help with protecting my company’s intellectual property, non-disclosure agreement, and teaming agreement with a top 10 U.S. Defense contracting corporation. She ran circles around the companies legal department, protected my company as if it was her own. I will use Tonya and the TNG legal team for all future legal matters.
Audie via Avvo
One of the best!! - We consulted with Tonya in reference to our case on multiple occasions and were always impressed with her overall knowledge of the laws. I never felt that we were not important or that she was too busy for us. I have had interactions with other attorneys that appear to forget you as soon as they hang up the phone but not with Tonya. She is passionate about her clients and works tirelessly for them. I recommend Tonya to family and friends without hesitation.
Client via Avvo
Contract Review - Tonya was very responsive in meeting my needs for a contract review. Her technical knowledge regarding the content was very helpful in the development of the contract for services used by my company.
Tim via Avvo
- Outstanding Attorney - Tonya is a very knowledgable attorney and provides the very best legal advice. When she tells you she is going to do something or follow up she does. I would recommend her services to anyone.
Client via Avvo
- Tonya provided valuable insight into the Letter of Agreement I use in my event planning business. She provided specifics on what needed to be corrected to ensure the intent of the agreement was clear. Tonya's review was very thorough, as were the suggested corrections.
Michelle via Avvo
She Handle Your Case with Thoroughness and Competency - I have found Ms. Tonya Gibbs very knowledgeable, competent, hard working, and honest. She readily keep you abreast of the status of your case. She has handle several cases in the last two years for me, and I have been completely satisfied with the outcome of them. If another legal matter comes up, I will contact her office again.
Client via Avvo
Ms. Gibbs was able to support our non profit completely with by laws, articles of incorporation and our tax status documents in a matter of weeks. It was so quick that even our accountant mentioned how impressed she was by all of the support. She was thorough and exceeded all of our board member's expectations.
Non Profit Set Up Posted by Bunny April 13, 2016
Thanks for Supporting the Greater Fredericksburg Community with Legal Insights! - Tonya provides professional and client focused insights for all her services. I have enjoyed her speaking presentations about law for the public and government contractors. She is an amazing asset to our business community!
Jim via Avvo