Autofill Legal Virginia Corporations And LLC Forms For Free

What Does it Take to Incorporate in Virginia? Obtain an EIN. Draft and finalize corporate bylaws. Hold an organization meeting. File BOI Report to FinCEN. Open a business banking account. Apply for any necessary licenses or permits. Hold an annual shareholders meeting. File an annual report.

If they form an LLC, use the Articles of Organization form and pay $100. Meanwhile, corporations should submit a completed Articles of Incorporation and pay the corresponding fee. The minimum amount is $75, but it will be higher if the corporation has more than 25,000 shares.

Step 4: Submit Your Articles of Organization to the State To form a new Virginia LLC, you'll need to submit form LLC1011 and pay a $100 filing fee to the state. To start a new Virginia Professional LLC, you'll need to submit form LLC1103 in addition to paying your filing fee.

Virginia charges a minimum of $75 ($25 filing fee and $50 for up to 25,000 authorized shares) to file the Articles of Incorporation. Add another $50 for up to 25,000 shares (add $50 for each additional 25K of shares). The charter fee tops out at $2,500 for over a million shares.

In Virginia, you are not required to have an operating agreement submitted to the Virginia state corporation commission. However, it is still strongly recommended as it provides crucial information that may be helpful in times of disagreement regarding how to operate the LLC.

The main difference between an LLC and a corporation is that an llc is owned by one or more individuals, and a corporation is owned by its shareholders. No matter which entity you choose, both entities offer big benefits to your business. Incorporating a business allows you to establish credibility and professionalism.