Cost of Filing Articles of Incorporation in Virginia

In order to form a corporation in Virginia, articles of incorporation must be filed. The legal documents known as the articles of incorporation set forth the corporation’s structure, purpose, and other crucial information. How much does it cost to file articles of incorporation in Virginia? That is a question you could have if you’re thinking about launching a business there. The cost of filing articles of incorporation in Virginia, as well as related issues like whether you require a certificate of good standing and whether you must register your business in Virginia, are all topics we’ll cover in this article. Articles of Incorporation in Virginia: How Much Does It Cost?

Depending on the type of corporation you’re forming, Virginia’s fee to file articles of incorporation varies. The filing fee is $75 for a regular corporation (often referred to as a “C corporation”). The cost is $100 for a business that provides professional services (such a legal or accounting firm). The cost to establish a nonprofit corporation is $25. The Virginia State Corporation Commission will receive these payments. Certificate of Good Standing

You might also be asking if you require a Virginia certificate of good standing. A certificate of good standing is a record attesting to your corporation’s legal right to operate in Virginia and compliance with all applicable rules and laws. While obtaining a certificate of good standing is not required in Virginia, it may be required if you intend to conduct business in other jurisdictions or if you want to borrow money from a lender.

You might also need to register your business in Virginia in addition to filing your articles of incorporation. A “fictitious name” or “doing business as” (DBA) certificate must be applied for if you conduct business using a name other than your own. Depending on the county where you are located, a DBA certificate might cost anywhere from $100 to $300. You could also have to pay $100 to apply for a state business license. LLC versus Corporation

Last but not least, you might be unsure of the distinction between an LLC and a corporation. While liability protection for their owners is a feature of both LLCs and corporations, there are some significant distinctions. Compared to corporations, LLCs are typically less formal and have less requirements. While owners of C corporations (known as shareholders) pay taxes at the corporate level and maybe also personal taxes on profits, LLC owners (known as members) declare company income on their personal tax returns. Your particular business needs and objectives will determine whether you should choose an LLC or a corporation.

In conclusion, the fee varies depending on the type of corporation you’re forming in Virginia when you file articles of incorporation. You might also need to register your business in Virginia and receive a certificate of good standing. The amount of formality and tax ramifications should be taken into account while choosing between an LLC and a corporation.