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Washington LLC and Corporation Registration and Formation

Date: 03/25/2019 | Category: | Author: Jakub Vele

Washington LLC and Corporation Registration and Formation

Today, Washington is considered as a state with a stable economy and great prospects for a start-up business entity. The key businesses or industries thriving in the state include tourism, design and manufacturing of jet aircrafts (Boeing), online retailers like Amazon, Expedia, Inc., biotechnology, computer software development (Microsoft, Valve Corporation, Nintendo of America), lumber, aluminium production, electronics, wood products (Weyerhaeuser), and mining. You can also form a Washington business today and become a part of the growing economy!

You are probably wondering what the process for LLC formation or incorporation is. This is where we can be of help! We as one of the top Washington registered agents can assist you with the successful registration of your business entity in the state.

Washington LLC Registration and Formation

Washington LLC Registration & Formation

LLC company formation in Washington is governed by 2011 Washington Code, Title 47 CORPORATIONS, Chapter 34A of the Uniform Limited Liability Company Act. The procedure for registration and formation of LLC is as follows:

Step#1: Maintain a registered agent

If you are planning to form a Limited Liability Company in Washington then you will be required to continuously maintain a registered agent in the state pursuant to RCW 25.15.021. This law is applicable to domestic limited liability companies as well as foreign limited liability companies.

We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Washington. We can assist you to form a Washington business LLC.

Step#2: LLC Name Reservation

One of the foremost steps towards company formation in Washington is identifying a name for your business entity. The process is as follows:

  1. Identify a unique name for your business entity
  2. According to RCW 25.15.011 and RCW 23.95.305, the name should contain the phrase or words “limited liability Company” or the abbreviations “L.L.C.”, or “LLC”.
  3. The chosen name should be distinguishable and should not be deceptively similar to the name of any limited partnership, corporation, or limited liability company
  4. Apply for reservation of name pursuant to the provisions of RCW 25.15.016 and RCW 23.95.310
  5. Submit the form though mail or online with the Office of the Secretary of State, Corporation Division along with the applicable fee. An LLC can reserve its name for a period of 180 days.

Step#3: Certificate of Formation and Application for Registration

If you are planning to form a Washington business LLC then the most important step is to prepare and file the proper documents for a Limited Liability Company. The steps are:

  • If you want to register a domestic LLC then you will be required to file “Certificate of Formation” governed by RCW 25.15.071.
  • If your business entity is a foreign LLC then you will be required to file “Application for Registration” pursuant to RCW 25.15.321 and RCW 23.95.505.
  • The Certificate of Formation and Application for Registration of domestic and foreign LLC can be filed with the office of the Secretary of State, Corporation Division through mail or by hand.

We can file the form on your behalf as your registered agent in the state and provide you with certified copies of the LLC registration.

In case, you have any questions regarding how to form a Washington business, feel free to call us on 702-871-8678.

Washington Corporation Registration and Formation

Washington Corporation & Registration & Formation

If you are planning to form a Corporation in Washington then the procedure for registration and formation is as follows:

Step#1: Maintain a Registered Agent

If you are planning to form a business or professional corporation in Washington then you will be required to continuously maintain a registered agent in the state pursuant to WA Rev Code § 23B.05.010 (2012). This law is applicable to domestic as well as foreign corporations.

We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Washington. We can assist you to form a Washington business as we are in compliance with all regulations in the State of Washington.

Step#2: Corporate Name Reservation

In order to form a corporation in Washington, one of the key steps is identifying a name for your business entity. The process is as follows:

  1. Identify a name for your business entity
  2. According to WA Rev Code § 23B.04.010 (2012), a corporate name should contain the phrase or words “corporation”, “company”, “incorporated”, or the abbreviations “Corp.”, or “Inc.”
  3. The chosen name should be distinguishable and should not be deceptively similar to the name of any limited liability company, limited partnership, or any other corporation
  4. Apply for reservation of name pursuant to WA Rev Code § 23B.04.020 (2012).
  5. Submit the form though mail with the Secretary of State of Washington, Corporation Division along with the applicable fee. A business corporation can reserve its name for a period of 180 days.

Step#3: Articles of Incorporation and Certificate of Authority

If you are planning to form a corporation in Washington, then the most important step is to prepare and file the proper documents for a business corporation. The steps are:

  • If you want to register a domestic corporation then you will be required to file “Articles of Incorporation” pursuant to WA Rev Code § 23B.02.020 (2012).
  • If your business entity is a foreign corporation then you will be required to file an “Certificate of Authority” to transact business in the state pursuant to WA Rev Code § 23B.15.030 (2012).
  • The application or documentation for registration of a corporation can be filed with the Office of the Secretary of State, Corporation Division – through mail or by hand.

We can file the form on your behalf being your registered agent in the state and provide you with certified copies of the incorporation.

If you have any questions regarding Washington incorporation or LLC formation, you can simply visit the Washington Business formation page.

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Incorporate in Washington

Date: | Category: | Author: Jakub Vele

Incorporate in Washington

The economy of “The Evergreen State” grew 3.7% in 2016, which is almost 2.5 times the national rate and is home to the largest concentration of STEM (science, technology, engineering and math) workers in the country. These are just some of the reasons for an increase in incorporation in Washington. This is a state that has been consistently thriving towards upholding the flexibility of regulations that are integral towards laying the foundation for a positive business climate. In fact, businesses in the state have successfully attracted approximately $1.6 billion in venture capital in 2016 making it the 6th highest total in the country.

Why Choose Washington for Incorporation?

If you are planning to set up company in Washington then here’s some good news: the state has no income or corporate income tax! There has also been a rise in small businesses and medium enterprises in a variety of industries like Aerospace, Clean Technology like bio-fuel and biomass technology, Agriculture & Food Manufacturing, Information & Communication Technology, and Tourism among others.

Now let’s take a look at some of the salient benefits that are responsible for fuelling growth of small businesses:

Sales and Use Tax Exemption for Manufacturing Machinery & Equipment (M&E)

This exemption can be availed of by manufacturers and processors who set up companies in Washington. The sales and use tax exemption is governed by RCW 82.08.02565 and 82.12.02565. This exemption is applicable to machinery and equipment that is related to the following:

  • Acting upon or interacting with items related to tangible personal property
  • Aids in guidance, controlling, measurement, verification, aligning, or regulation of tangible personal property
  • Aids in transportation, handling, or temporarily storage of an item of tangible personal property at the manufacturing facility
  • Providing physical support or access to tangible personal property within a manufacturing facility
  • Producing another item of tangible personal property that will be used in research and development or manufacturing operation

Exemption Certificate

Community Enterprise Zones (CEZ’s)

Community Enterprise Zones also known as community empowerment zone are special zones spread across the state of Washington and have been created to help businesses as well as communities. You can benefit from the incentives offered in this zone only if there is company incorporation in Washington CEZ or the corporate headquarters is in the CEZ. The community empowerment zone includes Rural Counties and High Unemployment Counties where your business can apply for “Sales and Use Tax Deferral” pursuant to 82.82 RCW.

Sample Application

How do you incorporate in Washington?

What is the process of incorporation in Washington? What type of documentation is required? These are some of the common questions that you will be confronted with if you are planning to start a new business in the state. The following steps will enable understanding of the entire process:

Business Type

The first step towards incorporation in Washington is choosing the type of business you want to form. The different types of business structures that you can form in the Evergreen State include Business Corporation (C & S Corporation), Non-profit Corporation, Limited Liability Company (LLC), Limited Partnership (LP), Limited Liability Partnership (LLP), Limited Liability Limited Partnership (LLLP), Sole Proprietorship, and General Partnership.

The type of business entity you want to form can either be a domestic or foreign entity. The forms and fee will be different for each type of entity.

The next step is to identify and reserve a name and this can be done as follows:

  1. Naming Requirements: According to RCW 25.15.011 for LLC and WA Rev Code § 23B.04.010 (2012) for a corporation, a business name should contain the words “corporation”, “incorporated”, “limited liability company” or abbreviations like “corp.”, “inc.”, “ltd.”, “L.L.C.”, ”Ltd., ” or similar abbreviations.
  2. Business name search: You need to search for a business name that is not in use currently. You can conduct a name availability search here.
  3. Name Reservation: Once you have identified a business entity name, you will have to reserve the name pursuant to RCW 25.15.016 for LLC and WA Rev Code § 23B.04.020 (2012) for corporations as a part of the incorporation in Washington process. You can reserve the name for a period of 180 days with the office of the Washington Secretary of State.
  4. Name Registration: If your business is a foreign entity then name registration is required pursuant to WA Rev Code § 23B.04.030 (2012).

Choose a Registered Agent

Whether you form a corporation or an LLC business entity, in order to transact business in the state of Washington, you will have to maintain a registered agent pursuant to RCW 25.15.021 for an LLC and WA Rev Code § 23B.05.010 (2012) for business corporations.

We are one of the respected registered agents in Washington and will be responsible towards initiating incorporation in Washington through processing of your Certificate of Formation and Application for Registration for LLC and Articles of Incorporation and Certificate of Authority for business corporations.

Articles of Incorporation and Certificate of Authority

You will be required to file “Articles of Incorporation” pursuant to WA Rev Code § 23B.02.020 (2012), if your business is a domestic corporation. You will have to file a “Certificate for Authority” pursuant to WA Rev Code § 23B.15.030 (2012), if it is a foreign business entity. In order to streamline the process of incorporation in Washington, we can file documents on your behalf through the online process or through an expedited process.

Date Stamped Copies

As a part of the process of company incorporation in Washington, we will ensure, you receive date-stamped and filed copies that verifies the state has filed as well as formed your corporation.

Costs and Fees associated with Washington Incorporation

What would it cost to set up a company in Washington? Check Fees here!

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Starting a Business in Las Vegas – Step by Step Guide

Date: | Category: | Author: Jakub Vele

Starting a Business in Las Vegas - Step by Step Guide

Are you thinking of starting a business in Las Vegas – the famous city of Silver State Nevada, Us? If so, it could be one of the most logical decisions since Las Vegas boasts an affordable cost of living. Even, there is a slew of tax breaks that you could receive like- No business income tax, franchise tax, personal income tax, franchise tax, and no gift tax, etc. The absence of several tax impositions has made Las Vegas one of the business-friendly cities and one of the best places for new start-ups.

Another justifiable reason for starting a business in Las Vegas is that after the recession, it has become a buyer’s market. Also, if you are not prepared to buy one, there are numerous below-market leasing-deals available, that you may grab.

Do you want to set up a business in Las Vegas? But you might be wondering about the business opportunities you could have to set up a profitable business in Las Vegas. Do you want to know more about the opportunities that may encounter you while operating the business? Great!

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Here are some of the trending small business opportunities, we have gathered for you.

  • Cannabis Licensing – After the legalization of cannabis, it has become a hotbed of investments. So, if you want to make huge profits from your business, you could start a consultancy business for cannabis. The cannabis industry is enormous and provides ample of job opportunities. So, do your homework well and create a business plan that can improve your fiscal conditions at a rapid pace.
  • E-commerce Business – With the digitization, starting an Ecommerce business has become one of the most profitable business ideas. You can be as much as innovative as you can for attracting your potential customers on the selling-portal or the E-commerce business website. Therefore, if you are starting a business in Las Vegas, you can easily focus your target audience or customers and generate the desired leads.
  • Container Restaurant – Another most lucrative idea of starting a business in Las Vegas is to embark a food business in a container. Las Vegas is a city of foodlovers and well-known cuisines like Lemon Spaghetti with Shrimp Giada, Roasted Beef Wellington, Quinoa Fritters, etc. Not only the local people but also the travelers and visitors love to try these dishes. Therefore, the container restaurant business is always profitable biz in Las Vegas.
  • The business of Green Consulting – Have you ever heard of the green practices? Well, these days, everywhere in the US, green practices are proliferating at a constant pace. Almost all the existing and new organizations in the US are heading towards green consultancy centers. Hence, if you are starting a business in Las Vegas, this would be a great small and profitable business opportunity.

However, before starting a business in Las Vegas, you need to follow a proper checklist of business formation and documentation to avoid possible disputes. Let us give a closer look at the step by step guide for starting a business in Las Vegas.

#1 Prepare The Business Plan

To put a strong foundation for your business in Las Vegas, you must start by carefully analyzing your business idea and plan for it. It is primary and the most critical step that decides the future success of your business. Proper planning and analyzing involves the answer to various questions like –

  • Based On Product Development: Does your business-product solve any specific problem? Is your business helpful enough to stand in the challenging competition?
  • Based On Sales & Marketing: Do you know your potential customers? Where could you find them? Are you aware of all the possible tactics to attain their attention and generate leads?
  • Based On People and Partnerships: How efficiently could you arrange the hiring process? For successful business growth, ‘which roles you would hire for your company?’ What relationships will you need to form with your company?
  • Based On Financial Planning: For a fantastic break even, How many clients or sales, you would require? How much capital is required to execute your business idea? What are the sources of investors or funding?

#2 Choosing an Apt Business Name

A business name itself holds a substantial percentage of weightage concerning the launch of a new business. And, starting a business in Las Vegas also requires detailed attention to the choice of an eye-catchy business name as well. While being in the process of picking a good and well-suited business name, you must go through the official website of Nevada Secretary of State and gather all the necessary information. Here are some of the critical points to be mentioned in your to-do-list for business name selection.

Check Name Availability

Do you want to choose a legal name for starting a business in Las Vegas? Well, if yes, you have to first check for its availability with the Secretary of State or SOS. Ensure that the business or entity name you are choosing should not be in use or has already been licensed by someone else. Always consider that business name, for which, you could reserve a domain.

You can check the federal trademark database to make sure that the name is not registered with any local business license bureau. If you are not going to create your business website at the initial stages of starting a business in Las Vegas, buying a domain would help you to secure your business name from getting acquired by others for future reference. After all, the name of your company would become your business identity in the upcoming years and gain acceptance globally.

Business Entity Search

For starting a business in Las Vegas, business entity research is as critical as checking for the business name availability. While doing a business entity search, you have to obtain the below-mentioned information about a business:

  1. Whether the business has been formed legally?
  2. Either the business is in good standing or not?
  3. What is the address of that particular business?
  4. What is the official address of that business-specific registered agent?

#3 Figure Out A Business Address

Well, if you have decided on the business name and have reserved that already, you should hop over to the next critical step for starting a business in Las Vegas. Now, you have to figure out a suitable business address, which could be your home address, an actual office or even a virtual office. The business address is vital for almost all the paperwork that is required to start any new business, so always make a wise decision.

You are suggested to choose the right address at the initial stages of the business formation rather than switching or changing an address down the road. Later it may cause inconvenience financially, as an example, Nevada Secretary of State charges about $175 for an address change. The business address is mentioned under the public record, but for some of the applications, you could also use a separate mailing address. In this scenario, you may use a house address or PO box number.

#4 Determine a Business Structure

Starting a business in Las Vegas might seem an easy task but, its formation process is very challenging. You always have to follow the steps that could aid to increase the credibility of your business. So, if you are ready with an effective business plan, name, and address, you would now need to choose a well-suited business structure from the three basic options as mentioned.

  • DBA: “Doing Business As” or DBA usually does not comes under a separate structure. But, it could be used as a different business name by an individual or a partner.
  • Corporation: A corporation works as a separate entity including officers, shareholders, and directors. It is a bit-complex business structure as compared to the DBA, though it requires limited liability protection. There are a few professions like architects, doctors, lawyers, etc. are required to choose “Professional Corporation.”
  • LLC: An LLC or “Limited Liability Company” is a renowned type of business structure that provides limited liability protection to the owners with less complexity. It has considerably replaced the other business structures by providing easy management and taxation benefits being a separate entity. Additionally, it also attracts more investors as compared to the other structure types.

Adding to the above information on the different business structures, always remember that if you are starting a business in Las Vegas, you should register your company as a Nevada business entity(LLC or a Corporation). It will not only increase the credibility of your business but will also protect it from personal liabilities, in case your business is sued. Also, an LLC is the most opted business structure in Nevada, whose setup requires as little as $75.

#5 Get Your State Business License

Another most crucial step in starting a business in Las Vegas is applying for a business license. There is a very fancy-schmancy online portal, provided by the Nevada Secretary of State, which is called as SilverFlume. Though the paper route is also available, the online portal is considerably a convenient way to apply for the license. You have to file – Articles of Organization for LLC, Certificate of Limited Partnership or Articles of Incorporation for a corporation. Lastly, you would require to submit the Initial List of – Members, Managers, Partners or Officers. And, your deemed entity in Nevada would be established.

Also, if you are starting a business in Nevada, you should be aware that there are certain exemptions to the state business license requirement. But, by the time you’re an entity, you would have to pay $200. Being a nonprofit company, say be it a motion picture company, a specific type of insurance company, or a governmental entity, you are eligible to apply for an exemption by mailing the required form.

#6 Get an EIN number

Now, the next step for starting a business in Las Vegas is getting an EIN or Employer Identification Number for your business, which is issued by the by the IRS. Either you have a partnership, LLC or a corporation, obtaining an EIN is very vital. An Employer Identification Number is a type of Taxpayer Identification Number. It is also abbreviated as TIN, which helps to identify or to verify any Nevada LLC with the IRS. Moreover, it is free of cost and could be obtained from the IRS website.

Having an EIN for your Nevada LLC, allows you to open a separate LLC bank account. Not only this, with EIN you could apply for several permits or business licenses also. With an EIN you are also allowed to file taxes at the federal, state, and local level. And, if applicable, you can handle employee payroll. Also, if you want to obtain business lines of credit or business loans, having an EIN is a must.

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#7 Registering with the Nevada Department of Taxation

If you are Starting a business in Las Vegas, applying for a business license is something unavoidable. Firstly, you have to register your business with the Nevada Department of Taxation to submit it as proof for obtaining the business licenses. Also, note that you require to apply for a sales tax permit also if you’re selling tangible goods.

Furthermore, if you instead of selling, buy products or goods for consumption in your business like office supplies, you would require a use tax permit. Let us say, if you are not paying tax at the time of purchase, you have to calculate the intended amount of the brought items in Nevada. After that, you would require to remit or pay back the same amount to the state.

#8 Getting A Business Insurance

Getting insured is again a very crucial step for starting a business in Las Vegas. It helps you to manage all the possible risks that might occur on the path of growing your business. Here are the common types of business insurance that you may consider.

  • Professional Liability Insurance
  • Workers Compensation Insurance
  • General Liability Insurance

As an example, if you have a home-based business or any small business, you should purchase a general liability policy or insurance. And, being a firm like accounting and consulting, should go for professional liability policy. Additionally, if you have a business with one or more employees, including all the corporate officers and LLC members should have workers compensation insurance, in Nevada.

Conclusion

Now that you have got all the necessary information and checklist for starting a business in Las Vegas, you might have initiated the most crucial step of business formation- business planning. But, if you do not want to lose the ground by making any mistake by not following the further steps adequately, you should hop over the IncParadise to get professional assistance. We expertise in providing complete business incorporation and registration services. So, what are you waiting for? Contact us now to register and incorporate your dream business today!

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Virginia Business License

Date: 03/09/2019 | Category: | Author: Jakub Vele

Virginia Business License

The state of Virginia requires businesses to not only register but also acquire a business license in order to become operational. The question is – do all businesses require licenses? Most businesses require some kind of license or permit and then there are businesses that will require more than a single license or permit or a combination of both. These permits or licenses are issued by different state government agencies and local bodies depending on the type of business activity and location. Let’s look at an example:

Certain permits especially those related to environmental regulations are issued by the state Department of Environmental Quality while other Virginia company license are issued locally. For example, businesses in the City of Norfolk or the City of Virginia Beach in the following industries will require a license or permit to operate:

  • Contracting
  • General Services
  • Professional Services
  • Financial or Real Estate Services
  • Retail Merchant or Wholesale Merchant

Step-by-Step Guide to a Business License in Virginia

How do you really obtain a business license in Virginia? Which business entities require a license and which requires permits? Who is the issuing authority for these licenses? Here is a step-by-step approach towards acquiring licenses or permit in the state:

Step#1: The Industry or Business Type

The type of industry or the activities of a business entity helps in identifying the type of business license required.

Let us take a look at some examples to understand this better:

Food Services

Food services business license or permit is required for businesses that are operating in Virginia. The type of license or permit required will depend on the following:

  • Full Service
  • Fast Food
  • Take-out
  • Caterer
  • Hospital
  • School
  • Concession
  • Other types of food service

In the state of Virginia, food service establishment require a permit to operate. Apart from the permit, you need to ensure the following are in order:

  • Building Permits
  • VDH Permit
  • Approved VDH Plan Review
  • Approved equipment, supplies, food sources and signage
  • Food Training

Note: Food services establishment license or permit is also issued by the City or County your establishment is based in.

  • Fees: The fee varies according to the type of business activity.
  • Application: License Application
  • Issuance: License is issued by Virginia Department of Health

Liquor License

If you are planning to serve liquor in a restaurant or are planning to manufacture, import, export, store, sell and transport alcoholic beverages, then you will require a business license in Virginia. The licenses are categorized under:

  • Banquet Licenses
  • Retail Licenses
  • Industry Licenses
  • Permits
  • Specialized Retail Licenses
  • Fee: The fee for acquiring a liquor license will depend on the category of liquor business. For instance, the Annual license fee for Banquet license is $190 (Wine and beer on premises) and $500 for mixed beverages on premises. Similarly, the fee for On-Premise Retail License is nonrefundable $195 and an extra fee for type of liquor like $145 for beer and $560 for Restaurant with a seating capacity of 1–100.
  • Application: Retail License Application
  • Issuance: License is issued by Virginia Alcoholic Beverage Control Authority

Step#2: Licenses issued by City/County

If your business or industry type doesn’t fall under a statewide license project then you will have to check with the local city or county office. A Virginia company license can also be issued by local counties or cities in which the business is located. Let’s look at an example to understand how this works.

If you form a business in Arlington County then a company license will be issued for the following:

  • Food Establishments
  • Temporary Food Establishments
  • Mobile Food Units
  • Farmers Markets
  • Water Recreation Facilities
  • Hotel/Motel Permit

The fee will vary according to the type of business. For example, food establishments will require a $40 fee to the Environmental Health Program. The business license is issued by Arlington County Public Health Division.

Sample License Application – Arlington

Step#3: Issuance of a Business License

How is a business license in Virginia issued? You have to identify the following to complete the process:

  1. The type of business or industry or activity
  2. Do you need a single license or multiple licenses?
  3. Will it be issued by the state or the city?

Once you have identified the above, all you need to do is either download the application or submit online or contact the concerned state department or city of clerk office.

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Advantages of Incorporating a Business in Virginia

Date: 03/08/2019 | Category: | Author: Jakub Vele

Advantages of Incorporating a Business in Virginia

The Old Dominion is a great place for a start-up company in Virginia as businesses Virginia as businesses locating to this state will be able to benefit from low operating costs, business-friendly tax structure, a wide variety of incentives, and several other advantages. Some of the advantages are:

  • It is a right-to-work state
  • Strategic Location with access to Interstates & Highways
  • Easy access to Major US Markets
  • Highly educated and skilled workforce
  • A variety of Workforce Development programs
  • Advanced Fiber Broadband Network
  • Easy access to several utilities including Natural Gas, 3 phase electrical service, Wastewater Plants etc

Advantages of setting up an LLC or Corporation

Forbes 2018 report makes it quite evident that “Virginia is the #4 Best State for Business” and is ranked #1 where “Regulatory Environment” is concerned. It is home to many major business services operations and there are many start-ups that register a new company in Virginia every day. The state also offers a competitive cost environment for business entities and it is also home to one of the largest concentrations of tech or IT workers in the nation. These are some of the business environment specific advantages that your business will be able to leverage. Let’s take a look at some specific advantages like that of an LLC or a Profit Corporation.

Advantage#1: Salient benefits of Corporation or LLC

Corporation

  • Tax Credits: There are a variety of tax credits that you can benefit from especially if you register a new business in Virginia. Some of the top programs beneficial for businesses include:
    – Major Business Facility Job Tax Credit: Businesses can benefit from income tax credit of approximately $1,000 for each new full-time job created. You can carry forward unused credits for a period of 10 years.
    – Refundable Research and Development Expenses Tax Credit: You can avail of corporate income tax credit equal to almost 15% of the first $300,000 that is invested in qualified R&D in the state.
    – International Trade Facility Tax Credit: This is an income tax credit that you can avail of on either capital or creation of jobs in an international trade facility (ITF)
    – Green Job Creation Tax Credit: A business can avail of this corporate income tax credit on any new green jobs created.
  • Independent Life: One of the salient advantages of an S Corporation in Virginia is that it enjoys an independent life. The death or incapacitation of a stockholder will not disturb operations of the business.

LLC

  • Small Business Grants: If you register a new company in Virginia as an LLC, you will be able to benefit from several small business grant programs the state offers. Some of the popular programs include:
    – Virginia Economic Development Incentive Grant (VEDIG): It is a discretionary performance incentive with the objective of encouraging businesses to invest in Virginia and create new employment opportunities.
    – ​Virginia Investment Partnership Act (VIP) / Major Eligible Employer Grant (MEE): This is another discretionary performance incentive with focus on continued capital investment, and increase in production using advanced technology.
    – Commonwealth’s Opportunity Fund (COF): A financial incentive for businesses that has been established to support projects, which promote new jobs as well as investment.
    Know more about Incentives
  • Limited Liability: If you register a new business in Virginia as a LLC then you will be able to enjoy limited liability protection. This means claimants can sue the LLC and not the owner or investors.

Advantage#2: Other Business Incentive Programs

There is a variety of business incentive programs including tax credits, exemptions, discretionary incentives, and financing programs available for small and medium enterprises or a start-up company in Virginia. Let’s look at some of the top programs in Virginia.

The Virginia Enterprise Zone (VEZ)

The objective of the Virginia Enterprise Zone is to enable businesses that are located here in stimulating economic development and earn incentives in return. Some of the incentives include:

  • 90% rebates on fees for using permit, rezoning, etc.,
  • Tax credits for creating employment.
  • Cash grants equal to 50% of net increase on tools and machinery tax
  • Commercial Façade Loan Program that makes available loans amounting from $5,000 to $50,000
  • Corridor Streetscape Improvement Incentive
  • Mixed-Use Development Incentive
  • Tax Exemption for Rehabilitated Structures

Currently, you can register a new company in Virginia Enterprise Zone in Portsmouth only. Incentives in VEZ

Are there any Disadvantages of Incorporating in Virginia?

When you register a new business in Virginia, you can be rest assured that there is a wide variety of business incentives to leverage. The question is – are there any disadvantages? The disadvantages are limited to the type of business entity you form. For instance, an LLC requires more paperwork and is complex as compared to a partnership or sole-proprietorship. Similarly, disagreements or conflicts among the stockholders of a business corporation may immobilize overall decision making. The disadvantages will not affect business growth keeping in mind the incentives and infrastructure offered by the state.

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Virginia LLC and Corporation Registration and Formation

Date: 03/06/2019 | Category: | Author: Jakub Vele

Virginia LLC and Corporation Registration and Formation

There are different types of business entities that you can form in the state including a limited liability company (LLC), a corporation, an S corporation, a limited liability partnership, and a Benefit Corporation among others. The Real Gross Domestic Product (GDP) of Virginia was $441.49 billion in 2017 as compared to $416.9 billion in 2010. The economy is thriving and it is ranked high on business climate, which are some of the many reasons to form a Virginia business. Several Fortune 500 companies are based out of the state and they are distributed over the greater D.C. area and NOVA (Northern Virginia).

We are one of the top Virginia registered agents and can assist you with the successful registration of your business entity in the state.

Let’s take a look at how you can form a Virginia business LLC or Corporation.

Virginia LLC Registration and Formation

Virginia LLC Registration & Formation

LLC company formation in Virginia is governed by 2016 Code of Virginia, Title 13.1 – Corporations, Chapter 12 – Virginia Limited Liability Company Act. The procedure for registration and formation of LLC is as follows:

Step#1: Maintain a registered agent

If you are planning to form a Limited Liability Company in Virginia then you will be required to continuously maintain a registered agent in the state pursuant to VA Code § 13.1-1015 (2016). This law is applicable to domestic limited liability companies as well as foreign limited liability companies.

We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Virginia. We can assist you to form a Virginia business LLC.

Step#2: LLC Name Reservation

One of the foremost steps towards company formation in Virginia is identifying a name for your business entity. The process is as follows:

  1. Identify a name for your business entity
  2. According to VA Code § 13.1-1012 (2016), the name should contain the phrase or words “limited liability company” or the abbreviations “L.L.C.”, or “LLC”.
  3. The chosen name should be distinguishable and should not be deceptively similar to the name of any limited partnership, corporation, or limited liability company
  4. Apply for reservation of name pursuant to the provisions of VA Code § 13.1-1013 (2016)
  5. Submit the form through mail with the Office of the Virginia State Corporation Commission along with the applicable fee. An LLC can reserve its name for a period of 120 days.

Step#3: Articles of Organization and Certificate of Registration

If you are planning to form a Virginia business LLC then the most important step is to prepare and file the proper documents for a Limited Liability Company. The steps are:

  • If you want to register a domestic LLC then you will be required to file “Articles of Organization” governed by VA Code § 13.1-1011 (2016).
  • If your business entity is a foreign LLC then you will be required to file an application for “Certificate of Registration” pursuant to VA Code § 13.1-1052 (2016).
  • The application or documentation for registration of LLC can be filed with the Clerk of the State Corporation Commission, in person, through mail, or online.

We can file the form on your behalf as your registered agent in the state and provide you with certified copies of the LLC registration.

In case, you have any questions regarding how to form a Virginia business, feel free to call us on 702-871-8678.

Virginia Corporation Registration and Formation

Virginia Corporation Registration & Formation

If you are planning to form a Corporation in Virginia then it will be governed by 2016 Code of Virginia, Title 13.1 – Corporations, Chapter 9 – Virginia Stock Corporation Act. The procedure for registration and formation of a business corporation is as follows:

Step#1: Maintain a Registered Agent

If you are planning to form a business or professional corporation in Virginia then you will be required to continuously maintain a registered agent in the state pursuant to VA Code § 13.1-634 (2016). This law is applicable to domestic as well as foreign corporations.

We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Virginia. We can assist you to form a Virginia business as we are in compliance with all regulations in the State of Virginia.

Step#2: Corporate Name Reservation

In order to form a corporation in Virginia, one of the key steps is identifying a name for your business entity. What is the process? The process is as follows:

  1. Identify a name for your business entity
  2. According to VA Code § 13.1-630 (2016), a corporate name should contain the phrase or words “corporation”, “company”, “incorporated”, or the abbreviations “Corp.”, or “Inc.”
  3. The chosen name should be distinguishable and should not be deceptively similar to the name of any limited liability company, limited partnership, or corporation
  4. Apply for reservation of name pursuant to VA Code § 13.1-631 (2016).
  5. Submit the form through mail or online with the Office of the Virginia State Corporation Commission along with the applicable fee. A business corporation can reserve its name for a period of 120 days.

Step#3: Articles of Incorporation and Certificate of Authority

If you are planning to form a corporation in Virginia, then the most important step is to prepare and file the proper documents for a business corporation. The steps are:

  • If you want to register a domestic corporation then you will be required to file “Articles of Incorporation” pursuant to VA Code § 13.1-619 (2016).
  • If your business entity is a foreign corporation then you will be required to file a ” Certificate of Authority” to transact business in the state pursuant to VA Code § 13.1-759 (2016).
  • The application or documentation for registration of a corporation can be filed with the Clerk of the State Corporation Commission, in person, through mail, or online.

We can file the form on your behalf as your registered agent in the state and provide you with certified copies of the incorporation.

If you have any questions regarding Virginia incorporation or LLC formation, you can simply visit the Virginia Business formation page.

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