If you want to change the name of your LLC in Virginia, you'll need to follow a specific process. This article will explain each step of the process and provide some tips on what you should keep in mind.
The name of your LLC is an important part of its identity, so it's important to make sure that the new name is appropriate and meets all state requirements.
4 Steps to Changing Your Business Name in Virginia
A Virginia limited liability company is legally known by its registered name with the State Corporation Commission. You can change your LLC name in Virginia at any time for any reason by submitting Articles of Amendment with the Virginia Corporation Commission.
Step 1: Come up with a new business name
Your new name for Virginia LLC must comply with the rules set forth by the Virginia State Corporation Commission, which include:
- The name must contain the words “Limited Liability Company” or the abbreviation “LLC.”
- The name cannot be the same as any existing business registered with the Commission.
- The name cannot be misleading or deceptive.
Step 2: Mind your business structure
If your Virginia LLC will conduct business structure as a corporation, you have to follow specific guidelines. For example, your name must contain the word “Corporation,” “Incorporated,” or any abbreviation thereof.
If you’re not sure whether your proposed LLC name complies with the law, you can submit a Name Reservation Request Form to the Commission for approval.
Step 3: Check LLC name availability
Businesses must make sure that they are not using the same name as another business entity in Virginia. To check whether your desired LLC name is taken, visit the Virginia Corporation Commission website and utilize their free tool to search business names.
If your name is available, you can proceed to register it with the Commission.
Step 4: File LLC Articles of Amendment
The most important legal documents for your name change are the Virginia Articles of Amendment.
Apart from changing your principal office address, mailing address, or your registered agent, the Articles of Amendment are used to change your Virginia LLC name.
The Amendment form is available on the Virginia State Corporation Commission's website.
You will need to file Articles of Amendment with the Virginia SCC, which costs a $25 filing fee. The amendment form itself is not very complicated, but you may want to have an attorney look it over just to be sure.
How Much Does It Cost to Register a Business Name in Virginia?
Corporations must pay a yearly registration fee depending on the number of authorized shares they are permitted to issue in Virginia. The price ranges from $100 for organizations with fewer than 5,000 shares to $1,700 for those with more than 270,000.
Payment is due by the last day of the month in which the business was established. Late payments will be assessed a $10 penalty or 10% of the annual registration price, whichever is greater. The nonstock business type must pay a $25 yearly registration cost.
How Fast Can You Change the LLC Name in Virginia?
A name change can be filed online. A business owner can do that by filing Articles of Amendment - Name Change. Normal Processing usually takes one to two weeks. The expedited processing service is available, and it can usually be done by the end of the next business day. Expedited service requires a higher filing fee.
Can I Change a Reserved Business Name in Virginia?
Depending on a business structure, a legal name can be changed by filing an amendment to the business's formation documents. In Virginia, a business can change its name in one of two ways: by filing for an assumed name or amending an existing company's legal name.
A business can choose to operate under other names by filing for a DBA, also known as a trading name, fictitious name, or assumed name. Filing for a fake or assumed name or DBA is the simplest way to operate your business under a different name without changing its legal identity.
If you wish to start a DBA in Virginia, you must fill out a form and pay the Corporation Commission filing fees.
On the other hand, corporations must prepare Articles of Virginia Amendment - Changing the Name of a Virginia Stock Corporation by Unanimous Consent of the Shareholders to change the name of their business.
Submit this to the Virginia State Corporation Commission by mail or in person. The signature of the board of directors' chairman or vice-chairman is required on the form.
How Long Does a Dba Last in Virginia?
Because the rules governing DBAs differ by county, it's important to consult the county clerk's office in each county where your DBA name will be registered. However, the normal effective lifespan for most DBAs is five years, after which you must file a renewal.
Who Can File for an LLC Name Change in Virginia?
Making adjustments to a business formation documentation requires precise paperwork completion and filing. Depending on the changes, you may need to take care of other documentation and processes. You can use a reputable document filing agency to make the process go more smoothly or handle the task alone as a business owner.
How to Change the Name of an LLC in Virginia...
Changing your LLC name in Virginia, for whatever reason, may appear to be a difficult process, including a mountain of paperwork and legal proceedings.
However, it's actually pretty straightforward, and we hope that this article will assist you in making the procedure go as smoothly as possible.