Sole Proprietors in Virginia: Do You Need to Register with the State?

You might be wondering whether you must register your firm with the state as a sole owner in Virginia. The short answer is no, Virginia does not require that you register your single proprietorship there. You should be aware of other standards and factors, though.

Even though your single proprietorship is not required to be registered with the state, you still need to get any business-related licenses and permits. You might require a company license, a zoning permit, a health permit, or other forms of licenses and permits depending on the nature of your enterprise. Before opening your firm, it’s crucial to do your homework and comprehend what licenses and permits you require.

You must file a trade name registration with the state if you choose to conduct business under a name other than your given name. A “fictitious name” or “doing business as” (DBA) name” is what this is called. The Virginia State Corporation Commission (SCC) is the place where you can register your business name. The straightforward registration procedure can be finished online or by mail.

You must complete a number of processes if you choose to incorporate in Virginia. You must first select a name for your corporation and confirm that it is available. The SCC must then receive your articles of incorporation. Additionally, you must designate a registered agent who will receive critical correspondence and legal papers on your corporation’s behalf. Finally, you’ll need to secure any licenses and permits your firm may require.

In Virginia, becoming a registered agent is a simple procedure. You have the option of acting as your own registered agent or designating a different person to act in that capacity. If you decide to name another person, they must be a Virginia resident or a company registered in Virginia. To manage this for you, you can also use a reputable registered agent service.

Depending on the kind of company entity you have, the cost of the Virginia annual report changes. A domestic limited liability company (LLC) must pay $50 in fees while a domestic stock corporation must pay $100. The annual report is a document that gives current details about your company, including the registered agent, officers and directors (if appropriate), and business address. Every year, the report is due on the final day of the month of your anniversary.

In conclusion, even though sole proprietors in Virginia are exempt from state registration requirements, they must still secure all business-related licenses and permits. You must file a trade name registration with the state if you choose to do business under a different name. If you choose to create a corporation, you must complete a number of procedures, such as submitting articles of incorporation and designating a registered agent. Finally, in order to maintain their information current with the state, all firms in Virginia are required to submit an annual report.