How to set up a business entity in Virginia

Setting up a business entity in Virginia is not so hard to do. You can do most of it online! All you need to do just print the correct form, fill it out and mail the signed form and fee to them.

Instructions

1. Determine business entity type: LLC, C Corporation, S Corporation, Business Trust, General Partnership, Limited Partnership.
   * Name of your new business usually related to what kind of business are you in or a unique name.
   * Is the entity name the same with the business name itself. Usually with the franchise business you need to have different entity name than the business name itself.

2. Register with the state corporation commission, here is the link http://www.scc.virginia.gov/
   You can print the form and get more information from this website.

3. After you register your entity name with the state corporation commission and pay the registration fee, they will mail you the certificate of your new entity.

4. Obtain a federal employer identification number (EIN).
   This is the number that you use to open an account at the bank under your business name. As well as to identify your tax number for your business. It work almost like a social security number for your business. You can apply for EIN online at http://www.IRS.gov/

5. For more info about Virginia unemployment tax and Virginia department of taxation visit www.vec.virginia.gov and www.tax.virginia.gov