If you own an LLC located outside of Virginia and you want to do business in Virginia, you need to register your LLC as a foreign LLC and obtain a Certificate of Authority. The filing fee to form an LLC in Virginia is $100. Filings can take 3 to 12 days to process. Expedited service is available for an additional fee. Incorporate.com will handle all filing requirements and provide you with the total cost to get your business up and running in Virginia.
To start a business in Virginia:
-
Choose a business idea
Research your customer and market. Conduct a competitive analysis of similar Virginia businesses. -
Write a business plan
Include funding needs to launch your business. -
Conduct a business name search
Ensure your desired name is available. Reserve your business name in Virginia for $10. -
Consider forming an LLC
An LLC provides liability protection and tax benefits. -
Register your business
All Virginia businesses must register with the State Corporation Commission (SCC). Depending on your business, register for additional licenses and permits. -
File taxes
Virginia has a corporate income tax and sales and use tax. -
Understand Virginia’s employment laws
Virginia is an “at-will” employment state, but laws still protect employees. -
Develop an online presence
Create a website and social media pages to promote your Virginia business.
To start any business in Virginia:
- Research your customer and market. Ensure your business name is available.
- Consider forming an LLC for liability protection and tax benefits.
- Register your business with the State Corporation Commission (SCC) and get necessary licenses and permits.
- Understand employment laws in Virginia; laws protect employees despite the “at-will” policy.
- Develop an online presence with a website and social media.
- File taxes as Virginia imposes a corporate income tax and sales tax.
Small businesses have under 500 employees. Sole proprietorships are privately owned by one person. To protect your personal assets, form an LLC or corporation. Opening a business bank account helps track finances. You may need business insurance. Consider workers’ compensation if you have employees.
Virginia’s diverse economy offers opportunities in technology, agriculture, tourism, and manufacturing. Focus on what you know and what you’re good at. Carefully research state and local laws and regulations for your business. The Virginia state website provides helpful information. Some financial tips: track expenses, keep records, plan for taxes, follow accounting practices.
Forming a business in Virginia does not require fees. However, an LLC must have a local mailing address. There are no age limits on business ownership. You can form an LLC without legal support. The state aims to have business-friendly regulations and resources for entrepreneurs. Consider all key factors when establishing a Virginia business.
What is the definition of transacting business?