DLL's in VB.NET

In VB.Net What type of component is used to
create a DLL equivalent? - a class? Can one create a DLL in a seperate project like you would activex DLL in VB 6.0 and then
referenece it? Where can I find instructions that an idiot like myself can follow?

Thanks
Tom

Yes the project type is 'Class Library' but it basically works like the old ActiveX DLL (only it isn't by default COM complaint).