How Much Does It Cost to Start an LLC in Virginia?
How Much Does Starting an LLC in Virginia Cost?
Legal business registration — and keeping your business in good standing — involves necessary expenses and investment. Some of these costs are payable to the VA Corporation Commission, while others are due to additional state entities or the federal government. Here are some common requirements and fees.
Please note that Virginia business license and permit fees may be due when you first form your business, on an ongoing schedule or on an ad hoc basis. Find more details below.
Initial Virginia LLC Filing Fee
When you register a business in Virginia, you’ll need to file as an LLC with the VA Secretary of State and pay a filing fee. Here are the current Virginia LLC fees and filing times:
When you use Incfile to create an LLC in Virginia, we charge you the state filing fee and forward it to the VA Corporation Commission when we file your formation paperwork.
Employer Identification Number
Every LLC in the country should have a unique EIN (Employer Identification Number) from the Internal Revenue Service. You'll use it when you open a business bank account, file taxes and pay employees. You can get one directly from the IRS, or Incfile can get one for you.
If you want to do business in a state other than the one where your business is based, you must create a Foreign LLC.
Virginia Foreign LLC Registration
Before you can bring an arm of your business from another state into Virginia, you must request Virginia Foreign Qualification. The state will then give you permission to conduct business there by issuing a Certificate of Authority in Virginia.
To request registration of a Foreign LLC in Virginia, you must complete an Application for Certificate of Registration to Transact Business in Virginia as a Foreign Limited Liability Company and pay a $100 filing fee. The state may have additional requirements so contact the VA SCC for more information and to ensure you're in compliance with state law
Foreign Qualification to Operate in Another State
If you plan to expand your Virginia LLC into another state, you’ll first need Foreign Qualification or a Certificate of Authority from that state. This is necessary before you can create a physical presence, hire employees, or bank in that state
You'll likely have to complete at least one application and pay a filing fee, but each state has its own requirements. Before you start the process, compare state filing times and state filing fees so you can plan accordingly.
Above all, contact the state government entity that administers business (usually the Secretary of State) to confirm their requirements and for specific instructions.
If you need assistance, Incfile provides a complete Foreign Qualification service for all states.
Virginia Annual Report Requirements
Most states — including Virginia — require businesses to file an annual (or other periodic) report. When you file your annual report, you’ll need to pay a fee of $50. Here are the annual filing requirements for Virginia:
Last day of anniversary month of organization
Virginia Business License and Permit Requirements
Before you start doing business, you must secure the necessary state, federal or local business licenses and permits to operate your LLC. Some of the fees will only need to be paid once, while others may be ongoing charges.
Permits and licenses vary based on:
You're not legally required to have an LLC Operating Agreement in Virginia.
This document covers how your business will be run, how managers and members will be chosen, rights and duties of members and several other key areas.
Creating a Virginia LLC Operating Agreement can be extremely helpful in making sure you’re organized and prepared for any future events that may affect your business.
You can make changes to the template based on your unique requirements.
Other Virginia LLC Fees and Requirements
You may need to pay and meet several other fees and requirements during the life of your LLC. These ad hoc fees will only be payable in specific circumstances, as listed below.
Obtaining a Fictitious Name or DBA
Reserving a Name for Your LLC
If you're not quite ready to start your business, you can reserve a name for 120 days with the VA State Corporation Commission by filing a form and paying a fee of $10. First, perform a Virginia business search and learn the state's business naming rules to ensure you choose a name that meets legal requirements.
Amending Facts About Your LLC
Your business formation paperwork states certain facts about your business at the time it's formed. Over time, some or all of this information may change. If it does, you'll need to fileArticles of Amendment with the VA Corporation Commission and pay a $25 filing fee. You can do this yourself, or Incfile can do it for you.
Getting a Certificate of Good Standing in Virginia
Some organizations may request that you prove your LLC’s compliance with laws and tax requirements.If you need to prove you have met your commitments, you’ll need to request a Certificate of Good Standing from the VA Corporation Commission and pay a fee of $6.
The information listed above details many of the fees a standard LLC will be required to pay in Virginia. In some circumstances, there may be other one-off, periodic or ad hoc fees not listed above.
Of course, your LLC will also probably need to pay self-employment, payroll, federal, state and other taxes. More information about taxes can be found on the Virginia Business Taxes page.