Information on the 50 States and the District of columbia

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Incorporating in Virginia

Corporate Name Requirements

* The name shall contain the word “corporation,” “incorporated,” “company,” or “limited,” or an abbreviation of one of those words. The name shall not contain any prohibited word or phrase nor any which implies that it is organized for any purpose other than those stated in articles. The name may not be confusingly similar to that of domestic or qualified foreign corporation.

Articles of Incorporation 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

  • The officers are not required to be listed in the articles of incorporation.

Stock Information

  • An increase in the shares may cause an increase in the initial filing fee.

Yearly Requirements

Annual Statements

  • Domestic corporations and qualified foreign corporations must file an annual report with the State Corporation Commission between January 1 and April 1 of each year after the calendar year in which incorporated or authorized to transact business.

Income Tax Rate

  • 6% of Virginia taxable income.

For more information on taxes, visit Virginia Tax

 

C-Corporation

  • Shareholders have limited liability protection
  • May be listed and traded as a publiccorporation on the stock market or “over the counter”
  • Has a separate and independent tax status from its owners
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S Corporation

  • Profits are not subject to “double taxation”
  • Corporate losses may be “passed through” to share holders
  • Shareholders are afforded the same protection as C Corp.
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LLC formation

  • Contains characteristics of both corporation and partnership
  • Shareholders may take advantage of “Pass-Through” taxation
  • Limited liability for share holders
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Not for profit corp

  • Eligible for tax-exempt status
  • Limited Liability protection
  • Qualify for public and private gains
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