|
|
|
|
|
| |
|
|
Virginia
Corporate Name Endings
- The name shall
contain the word "Corporation," "Incorporated," "Company," "Limited,"
or an abbreviation thereof. 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.
Corporation Requirements
- Director Information
- Minimum Number - One or more.
- Residence Requirements - No provision.
- Age Requirements - None.
- Directors are
not required to be listed in the articles of incorporation.
- Officer Information
- Officers are
not required to be listed in the articles of incorporation.
- Stock Information
- An increase
in shares may cause an increase in initial filing fees.
- Corporate Records
- Corporate records
must be kept, but no location is specified.
Taxes and Fees
- Annual Statements
- Domestic and
qualified foreign corporations must file an annual report with the
State Corporation Commission on the first day of the second month
in which the business was incorporated or authorized to transact
business. The annual registration fee is $100 if the number of authorized
shares is 5,000 shares or less. If the corporation has authorized
shares of more than 5,000, the annual fee is $50 plus $30 for each
additional 5,000 shares, up to a maximum of $1,700.
- Income Tax Rate
- The tax rate is 6% of Virginia taxable income.
- S Corporation
- S Corporation
status is recognized by the State of Virginia. A separate state
election from the federal election is not required.
- License Requirements
- Virginia requires
most businesses to obtain a license and pay a fee if operating in
the state. Please check with the state to make sure your business
is complying with the license requirements for your particular profession.
For more information on taxes, visit
http://www.tax.state.va.us/.
|
|
