Start a Business in Virginia
Starting a business in Virginia is easy. All you need to do is file a few forms with the State Corporation Commission and start running your business. Below, we show you how to get started and walk you through some of your options.
One option is, of course, to stop reading and just hire us to start your business for you. At Northwest, we form businesses and provide registered agent service throughout the US. That’s our business, and obviously we recommend starting your business in a certain way. We call it “Starting a Business the Right Way."
Starting your business the right way means hiring a registered agent to form your LLC or corporation so you can protect your privacy and receive the care your business needs to stay active. If you hire us to start your Alabama business, we’ll be your registered agent, provide Privacy by Default®, a business address, mail forwarding and local Corporate Guide® service for life.
How to Start a Business in Virginia
You file articles of incorporation for a Virginia corporation or articles of organization for a Virginia LLC with the VA State Corporation Commission.
You obtain a federal tax ID number (FEIN or EIN) with the IRS after you have confirmation and filed articles from the State of Virginia showing your approved Virginia business.
Opening a business banking account under your new Virginia business name should be easy with these two items.
If you’re going to have employees or need to withhold sales tax, you will probably need to register with the VA department of revenue. We provide all these links in your online account.
If your business trade requires a license, you’ll have to apply for a license with the Virginia licensing board. (Most businesses don’t.) But if you do, these quick links and contact details are in your online account. Some local cities or counties have a general license, but most don’t. You obtain a local trade license if the city or county you’re going to be working in requires it.
If you’re going to have an office or shop you might need an approval from the city zoning for your type of business in that location.
If you get overwhelmed, just get your business pulling in money and worry about regulations later.
Are You A Do-It-Yourselfer? You Can Save Some Money:
If you want to start a business in Virginia yourself, you can just hire us as your Virginia registered agent, and you’ll instantly have the Virginia LLC or corporation forms to file along with filing instructions on the quickest, cheapest, and most efficient way to incorporate a Virginia corporation or form a Virginia LLC. You’ll get the ongoing support of our online tools, reminders and the support of a professional Virginia registered agent service.START YOUR VIRGINIA BUSINESS TODAY
Virginia LLC vs Corporation
Because LLCs are generally easier to maintain, offer flexible management, and have great tax options, they’re very popular among small business owners. They also tend to have fewer annual requirements. Entrepreneurs seeking to build a large, fast-growing company often prefer the structure of a corporation. Plus, having the option to sell stock is great for attracting investors.
But, what about Virginia? Any pros and cons for a Virginia LLC vs a Virginia corporation?
In terms of initial filing fees, there is a slight advantage to starting a Virginia corporation versus a Virginia LLC. The Articles of Incorporation costs a minimum of $75 whereas the Articles of Organization costs $100. However, keep in mind, that if your corporation authorizes more than $25,000 in shares, the filing fee will increase. In addition, both entities have annual requirements. However, LLCs will have less paperwork to file. Corporations must submit an annual report and pay the annual registration fee ($50). The cost of the annual report will vary depending on your corporation’s total authorized shares—between $100 and $1,700. LLCs are only required to pay the $50 annual registration fee.
Overall, taxes for Virginia businesses are fairly low across the board. The corporate income tax is a flat rate (6%) and personal income rates are between 2% and 5.75%.
If you want a corporation, you file Virginia Articles of Incorporation:
The Virginia articles of incorporation cost $75. There are additional fees if you have more than $25,000 shares.
We custom draft your Virginia articles of incorporation when you hire Northwest to start your Virginia business.
The basic requirements of Virginia corporations are:
- The Virginia corporation must have a corporate ending such as incorporated, corporation or an abbreviation thereof.
- The number of shares the Virginia corporation is authorized to issue.
- You don’t have to list a purpose or duration in your Virginia articles of incorporation.
- The name of the registered agent in Virginia and the registered office address.
- The name and address of the directors of the Virginia corporation.
- The name and signature of the Virginia incorporator(s).
Virginia does not require original signatures on new VA corporation filings. The filing is returned to your VA registered agent unless you specify a different address.
Start Your Virginia Business!GET STARTED
If you want a LLC, you file Virginia Articles of Organization:
To form a Virginia LLC, file articles of organization and pay the $100 fee.
The basic requirements of Virginia LLC filings are:
- The business name must have a limited liability company ending or variation of it such as LLC, L.L.C.
- The Virginia business name must be different than already registered Virginia businesses.
- Virginia limited liability companies do not need to state a LLC purpose or duration.
- The Virginia registered agent and the registered office address.
- The names and addresses of members/managers are not required
- The VA LLC organizers name and signature.
Virginia does not require original signatures on new VA LLC filings. The filing is returned to the Virginia registered agent unless you specify a different address.