Filing and Costs
To start a corporation in Virginia, you must file Articles of Incorporation with the State Corporation Commission. You can file the document online or by mail. The Articles of Incorporation cost a minimum of $75 to file. The Virginia State Corporations Commission charges $100 to file the Certificate of Formation for an LLC. You can reserve your LLC name with the Virginia State Corporation Commission for $10.
LLCs in Virginia will need to pay an annual registration fee of $50. Your LLC’s registered agent will be mailed an assessment notice at the address you provide. If the fee is late, there will be an additional $25 penalty. Depending on where your LLC is located, you may also need a local business license or permit.
Businesses selling products and certain services will need to register for a Sales Tax Permit with the Virginia Department of Taxation.
Business Registration Fees
The fee to register a corporation in Virginia is $75, with a charter fee based on the number of shares of stock being issued; this ranges from $50 for each 25,000 shares (or fraction thereof) for 1 million or fewer shares, to $2,500 for more than 1 million shares.
You can hire an attorney or accountant for the annual rate of $150-$300 to help you with the process. The foreign LLC cost in Virginia is $100 per application.
Business Licenses and Permits
The cost of the business license is based upon your estimate of total gross receipts, with minimum tax of $50.00 for estimates less than $100,000. Many cities require business licenses to operate, even though there is no general business license at the state level.
Depending on your LLC’s business location and industry, you may need to obtain additional Business Licenses or Permits. The costs for these will vary depending on location and industry.
How to Incorporate
There are three options for incorporating your business in Virginia:
- Hire a lawyer (the most expensive option).
- Walk into the Secretary of State office and do it by yourself.
- Use a professional incorporation company, like Active Filings.
Steps for Business Registration in Virginia
- Decide on a Business Structure.
- Pick a Business Name.
- Register the Business.
- Obtain Your Federal Employer Identification Number (EIN).
- Open Company Bank and Credit Accounts.
Additional Information
To ensure your business name is available, check the Clerk’s Information System’s (CIS’s) Entity Search and make sure the name you want isn’t easily confused with other businesses in Virginia. Your LLC name must include "limited liability company" or "LLC" and avoid implying any other business type. It should also not be trademarked by another company.
Annual Fee for an LLC in Virginia?
LLCs in Virginia are required to pay an annual registration fee of $50 due on the anniversary date of formation. If late, there is a $25 penalty.
Costs to Start a Virginia LLC
The cost to start a Virginia LLC includes a $100 organizational filing fee plus a $50 annual registration fee. Additional costs may apply, including fees for licenses, registered agent services, and taxes. Total startup costs can range from $150 to $500.
Operating a Foreign LLC in Virginia
To operate a foreign LLC in Virginia, file for a $100 Certificate of Registration. Appoint a registered agent with a Virginia address to accept legal correspondence and pay the $50 annual fee by the original date of LLC formation to remain active.