Each state has different requirements for forming a corporation. Whether you are starting a business or incorporating a business already in existence, you’ll want to understand state requirements for Virginia incorporation.
The name shall contain either the word or an abbreviation of "Corporation," "Incorporated," "Company" or "Limited." A period must be used after any abbreviations used in the corporate name. The name cannot use words in parentheses. The name shall not contain any prohibited word or phrase implying it is organized for any purpose other than that stated in the Articles of Incorporation. The name may not be confusingly similar to that of any domestic or qualified foreign corporation.
The following are Virginia’s requirements for directors of corporations:
The document required to form a corporation in Virginia is called the Articles of Incorporation. The information required in the formation document varies by state. Virginia's requirements include:
Virginia allows professionals, such as accountants, attorneys and physicians, to form a professional corporation (PC).
After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Virginia corporations.
Virginia corporations must keep the following items with their corporate records at the principal office:
The following are taxation requirements and ongoing fees for Virginia corporations:
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
Virginia recognizes the federal S corporation election and does not require a state-level S corporation election.
The state in which you form your company can provide certain benefits.
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