Once you have a great idea for a business, the Commonwealth of Virginia requires you to take a few steps to make your business an official legal entity. The process to start a business in Virginia can be both complicated and lengthy, and it involves choosing a business structure, registering the business and its name, getting a tax number, and obtaining necessary licenses and permits. If you're planning to start a business in the Old Dominion state, here's a brief look at what you’ll need to do:
- Choose a business structure. Some of the most popular structure types for Virginia businesses include sole proprietorships, general partnerships, limited liability companies (LLCs), and corporations. Each type of structure comes with benefits and drawbacks, and a business planning attorney can help you determine which structure is right for your business.
- Get registered. After making sure that your desired company name isn't already taken, you'll register your business's name and trademarks with the United States Patent and Trademarks Office (USPTO).
- Get a tax number. Businesses operating in Virginia must have both state and federal tax numbers. Additionally, some Virginia businesses require a special type of tax registration, and an attorney can advise you about this.
- Get licenses and permits. Although the Commonwealth of Virginia doesn't issue general business licenses, the Department of Professional and Occupational Regulation oversees a number of occupations through licensing boards, including real estate agents, engineers, and home inspectors.
After you have the necessary licenses and permits, all that's left to do is obtain business insurance and start managing your dream. Working with an experienced business planning attorney can help take the confusion, frustration, and guesswork out of the process.
Consult an Experienced Attorney for Help Starting Your Virginia Business
If you're on your way to becoming a business owner, we want to help. A Quest Law business planning attorney can guide you through every step needed to start your business in Virginia. Contact us today to schedule an appointment for a private consultation.