Need an answer to a business related question? Submit your question to "SCORE Answers" at kenwmsbscore@hotmail.com.
Question: How do I register a new company in the State Of Virginia?
You will want to decide on your business structure, Sole Proprietorship, Partnership, Corporation, Limited Liability Corporation (LLC), or S Corporation: before you begin the registration process. A SCORE counselor can discuss these options with you; giving you an opportunity to examine the possibilities, or you can speak with your legal counselor.
Much of the process for registering a new company in the Commonwealth of Virginia can be accomplished on line. If you decide on one of the corporation structures you will want to contact the State Corporation Commission Office of the Clerk at www.virginia.gov/cmsportal2/business 4096/index.html or the State Corporation Commission, Clerk’s Office Tyler Bldg. 1300 E. Main ST. P.O. Box 1197, Richmond, VA. 23218 (804-371-9967). A corporation will have an Employer Identification Number assigned at the time of incorporation.
If your company is not a corporation, and you have one or more employees, contact the IRS at www.irs.gov to obtain an Employer Identification Number.
The Commonwealth of Virginia requires that some businesses be licensed or obtain special permits. Generally this pertains to businesses involved in public health or safety, such as, engineering, architecture, environmental hazards, building codes, health professionals, or financial services ( CPA’s and real estate agents). To find out if your company is subject to licensing contact the Virginia Department of Professional and Occupational Regulation on line at www.dpor.state.va.us or at 360 Broad Street Richmond, Va.23230 (808-367-8500). They will be able to provide you with any information or forms needed.
There are also regulations and requirements for new businesses that vary for each city and county in Virginia. James City County offers an excellent pamphlet on starting a business which includes federal, state, and county requirements and is available for downloading at econdev@james-city.va.us or you may contact:
Office of Economic Development
Keith Taylor, Director
101-C Mounts Bay Road, P.O. Box 8784
Williamsburg, VA 23187-8784
(757) 253-6607
If you are a construction contractor you will want to contact the Virginia Board of Contractors at www.dpor.state.va.u or at the Department of Professional Occupational Regulation, 3600 W. Broad St. Richmond, VA. 23230 (804- 367-8500)
The Virginia department of Taxation has valuable information on taxes for small business on their website: www.tax.virginia.gov/.
It may seem daunting but, with many sources for information and help the process can be accomplished and you can be in business.
If you have questions about this or other business subjects call SCORE (757-299-6511) and arrange for a free and confidential appointment with a SCORE counselor.
Submit your questions to “SCORE Answers”” at kenwmsbscore@hotmail.com
Look for the SCORE Answers next month on the Greater Williamsburg Chamber and Tourism Alliance Website, www.williamsburgcc.com.