If you are confused and finding the solution that How To Get A Business License In VA? ten you are in the right place. No matter how much money you have, how successful your business is or how fast you want to grow, one thing that all businesses need to do is register with the government. One of the first things that a new business owner might be wondering is how to get a license in V.A. This article will cover how to get a business license in V.A. and some general information on what it entails.
What are the steps of how to get a business license in VA?
- Before getting their license, the first thing to do is fill out an application with the Secretary of State. This could be done online, by mail or in person, and it takes about two weeks for this form to process. It’s also necessary to submit a $100 fee (unless you have registered through electronic filing).
- Next up is registering your trade name with the V.A. Department of Treasury & Taxation Division. You may register either electronically or simply by filling out some paperwork at your county courthouse since there are no fees associated with taking care of this task.
- One more step is getting a federal employer identification number from the IRS to be eligible for government contracts and tax breaks.
- Another task to complete is getting a state employer identification number from the V.A. Department of Labor & Industry. You can do this online, and it only takes about five minutes though you have the option of doing it in person as well.
- The next step for getting a business license in V.A. is registering your trade name with the county, city or town where you will be operating. This registration could take anywhere up to three months. Still, there are no fees associated with doing so other than those that may already exist if you registered electronically earlier.
- It’s also essential that businesses register their workers through ES&S (Employment Security Division) if they work more than 20 hours per week, including full and part-time employees.
- You will also need to obtain a state sales tax license from the Department of Taxation if you sell goods or services in V.A. for more than $100,000 per year. It costs anywhere between $200-$500 depending on how much your business sells annually, so it may be worth doing this step sooner rather than later.
- The final steps are paying taxes based on how many days you operate each month and those regarding the holidays (e.g., July Fourth). If you work 40 hours a week during months when there is no holiday, then the next thing would be registering as an employer through ES&S, which requires filling out some paperwork along with submitting $200.
- The final step in getting a business license in V.A. is getting an occupational tax certificate from the Dept of Taxation. You’re also selling tobacco products that cost anywhere between $120-$800, depending on how much your business sells annually.
Checklist for starting a new business in Virginia: How To Get A Business License In VA
The checklist for starting your new business in Virginia covers some of the most important steps to get started, including finding funding, choosing a name and registering with state regulators.
- The Basics: Before you can start your business, you’ll need to decide what type of entity it will be – sole proprietorship, partnership or corporation? Once this is determined, file the appropriate documents with the government and register your trade name (if any) with the Secretary of State’s office.
- If you’re getting started as an individual entrepreneur–meaning not as part-owner or team member at another company–, then skip ahead to “Business Licenses & Permits.”
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If You Want Outside Funding:
If you’re looking to increase, the great idea is to apply for a loan from the Small Business Administration. The SBA offers loans of up to $350,000 or more with fixed rates and terms tailored specifically for your needs.
Business Licenses & Permits:
You’ll need a separate business license in each city where you do business, as well as permits specific to your industry, including restaurant licenses, contractor’s licenses and so on.
One good place to start finding information about all this stuff–and ask questions along the way–is Virginia’s Department of Professional and Occupational Regulation (DPOR). From there, it gets pretty detailed depending on what type of thing(s) you want to do.
Dealing with Money Issues:
An LLC is usually best to open that checking account or get capital from friends and family for your company’s startup costs since they don’t have restrictions like S-Corps regarding “active” or “inactive” status. But, of course, this is just one option, and you’ll need to do your research before choosing which type of company structure will work best for your needs.
Choosing a Name:
You may not know the perfect name yet (or be able to), but registering a trading name with the Secretary of State’s office is a good idea.
Registering Your Trade Name:
Once you’ve decided on your company name, check out these resources to register it as a trademark with the U.S. Patent and Trademark Office.* You can also file for copyright protection through the U.S. Copyright Office before beginning any creative endeavours that might be protected by law.
Choosing Your Business Entity Type:
Sole proprietorship, partnership or corporation? This will depend mainly on what type of business you’ll create–or even if you want to run it alone (as an individual entrepreneur). If this sounds like something up your alley, then keep reading.
Understanding Incorporation Basics:
For starters, here are the basics of incorporation.
Choosing Your Type Of Entity:
Sole proprietorship, partnership or corporation? This will depend mainly on what type of business you’ll create–or even if you want to run it alone (as an individual entrepreneur). You may also have other options like LLCs, but this article focuses mainly on corporations because they’ve been around the longest and are most widely used.
Choosing a Corporation Name:
It’s usually best to choose something that sounds too similar to another company in your area since this could confuse customers. And don’t forget about your trademark registration! If all goes well, you’ll be on the path to becoming an official business!
There are many steps to getting your business license in Virginia, and you may find that some of them can be pretty complicated. We have created this checklist to help you keep track of the necessary items for starting a new business in VA. If we missed or need any clarification on How To Get A Business License In VA, please feel free to contact us!