It costs $100 to register an LLC in Virginia. This is the filing fee paid to the State Corporation Commission. You may also choose to reserve an LLC name, which costs $10 per application. Annual renewal fees are $50 to maintain your LLC.
Additional common costs when starting a Virginia LLC include:
- Hiring an LLC formation service
- Purchasing business insurance
- Registering a DBA name if using a trade name
- Paying for required licenses and permits
Costs for licenses and permits vary by industry and location.
For foreign LLCs wishing to do business in Virginia, the registration fee is also $100. Filing for a Certificate of Registration to Transact Business costs this amount.
Recurring annual costs include:
- $50 renewal fee
- State income tax
- Sales and use tax
- Potential local fees
Federal business regulations may also require licenses, permits, trademarks, copyrights or patents. Costs vary. Industry-specific permits are also sometimes needed from local, state or federal agencies.
How long does it take for an LLC to be approved in Virginia? The processing takes about 2-3 business days for electronic filings and up to 2 weeks for mail applications.
How much does an LLC in Virginia cost per year? All Virginia LLCs need to pay $50 per year for the Annual Report to the State Corporation Commission.
To maintain an LLC in Virginia, you will need to pay state income tax, sales & use tax, federal taxes, and an annual fee of $50.
The cost to start an LLC in Virginia is determined by the paperwork you need to file. Here are the basic expenses:
- LLC Formation Filing Fee ($100 – Mandatory)
- Registered Agent Fee
- Operating Agreement Draft
- Business Licenses & Permits
First, you need to name your LLC in Virginia, following the specific naming criteria imposed by Virginia law. The company name must end with the LLC abbreviation.
What is needed to start an LLC in Virginia?
- Choose a unique business name
- Appoint a registered agent
- File articles of organization
- Draft an operating agreement
- Obtain business licenses/permits
Following these straightforward steps allows you to quickly form an LLC so you can focus on your business. An LLC formation gives small businesses key legal and financial benefits as they get started.