#RVABizLaw Tip of the Day: Three Simple Tips to Maximize Limited Liability Protection through your Virginia LLC

Three Simple Tips to Maximize Limited Liability Protection through your Virginia LLC:  (i) Pay your annual fee to the SCC on time every year; (ii) pay attention to signature blocks when signing business contracts on behalf of your LLC; (iii) maintain a separate bank account in the LLC’s name. Obviously this is not all a business owner can (and should) do to observe proper business entity formalities and maximize his or her protection from personal liability for business debts and obligations, but it is a good start.  Click here for some other compliance tips for small business owners.