In West Virginia, the most common structure for real estate enterprises is an LLC. This is due to the ease with which a limited liability corporation (LLC) may be formed and operated.

If your real estate firm is sued, an LLC may safeguard your personal assets (vehicle, home, money). LLCs also provide credibility and tax-saving possibilities.

 

In West Virginia, you may form a real estate LLC by filing Articles of Organization with the WV Secretary of State. In West Virginia, forming a real estate LLC costs $100.

The first step in organizing a real estate LLC is to choose a firm name. You must offer your company a distinct name that complies with West Virginia naming regulations.

When you submit your Articles of Organization, you will formally register your name.

Examine if your company’s name is accessible as a web domain. You may choose to purchase the URL in order to prevent others from using it.

When you submit your Articles of Organization, you must name a registered agent, also known as an agent for service of process in West Virginia.

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The role of an agent for service of process is to receive legal papers such as service of process and tax notifications on behalf of your LLC.

The agent for service of process for your real estate LLC might be a person or a registered agent service. Although you may serve as your own agent for service of process, many company owners choose to hire a registered agent service.

You must complete Form LLD-1 – Articles of Organization with the West Virginia Secretary of State to register your West Virginia LLC. This may be done by the mail, email, fax, or in person.

An LLC operating agreement is a legal document that defines your real estate LLC’s ownership and member responsibilities.

An operating agreement may benefit even single-member LLCs.

You may include conditions in your real estate LLC operating agreement as long as they do not violate West Virginia law.

The US Internal Revenue Service (IRS) uses an Employer Identification Number (EIN) to identify and tax firms. It’s essentially a business’s Social Security number.

Following the Formation of a Real Estate LLC

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