Fill Out Legal Virginia Startup For S-Corporation Forms For Free

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.

Step 1: Name Your Virginia LLC. ... Step 2: Choose a Registered Agent. ... Step 3: File the Virginia Articles of Organization. ... Step 4: Create an Operating Agreement. ... Step 5: File Form 2553 to Elect Virginia S Corp Tax Designation.

Step 3: Submit formal paperwork. 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.

The key point to remember is that an LLC is a type of business entity recognized under state law, whereas an ?S? corporation is merely a tax classification (not to be confused with stock corporations, nonstock corporations, and benefit corporations which are three types of entities recognized under state law).

corporations: Corporations that have elected status for federal purposes are automatically treated as corporations for Virginia purposes, and must file Form 502. Refer to the PassThrough Entities page for information about corporation filing requirements. The tax rate is 6% of Virginia taxable income.

However, there are many different ways to finance a business, including personal loans, credit cards, and crowdfunding. You can also look into government grants and small business loans. Once you've secured funding for your business, it's time to start working on your Virginia business.