Virginia Checklist of Matters to be Considered at a Preliminary Meeting of Organizers of a Corporation and Included in its Minutes
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FAQ
Develop a preliminary agenda Lay out a sequence for the meeting. Plan time for a brief introduction to provide context, and for a discussion of next steps at the end. Decide how much time to devote to each item and what order makes sense.
Both types of entities have the significant legal advantage of helping to protect assets from creditors and providing an extra layer of protection against legal liability. In general, the creation and management of an LLC are much easier and more flexible than that of a corporation.
By law, a Virginia C corporation is recognized as an individual entity and treated separately from its owners/shareholders. As a shareholder, you'll enjoy limited liability for any obligations, liabilities, and debts incurred by the corporation and any liability that may stem from legal action against the corporation.
Your bylaws will dictate your corporation's operating process, managerial structures, company regulations, shareholder voting structures, and stock shares. Although Virginia requires you to create bylaws for your corporation, you do not need to file them with the state.
To incorporate your company, you must file the Articles of Incorporation with the Virginia State Corporate Commission (SCC). You can file online, or download the PDF from the Virginia SCC website and submit via mail or in person.
Follow the steps in our How to Start a Corporation in Virginia guide below to get started:Step 1: Name Your Virginia Corporation.Step 2: Choose a Registered Agent.Step 3: Hold an Organizational Meeting.Step 4: File the Articles of Incorporation.Step 5: Get an EIN.
A C corporation is a creature of state law. It is formed under state law in accordance with the rules of each state. You can complete the set-up steps yourself or use an attorney for this purpose. Either way, there are state filing fees for incorporation that can range from $50 to $500 depending on state law.
The Virginia state filing fee is $75. For stock corporations, fees increase after more than 25,000 shares are authorized, up to $2,525. How long does the process take?
How to Form a Corporation in VirginiaChoose a Corporate Name.File Articles of Incorporation.Appoint a Registered Agent.Prepare Corporate Bylaws.Appoint Directors and Hold Board Meeting.Issue Stock.Comply with Virginia Annual Report Requirements.Obtain an EIN and Pay Business Taxes.
Step 1: Name Your LLC. Choosing a company name is the first and most important step in starting your LLC in Virginia.Step 2: Choose Your Virginia Registered Agent.Step 3: File the Virginia LLC Articles of Organization.Step 4: Create an LLC Operating Agreement.Step 5: Get an EIN and Complete Form 2553 on the IRS Website.
