Form a S-Corp in Virginia
Everything you need to know about forming a S-Corp in Virginia. Filing fees, requirements, timeline, and step-by-step guidance.
How to File
Choose a Corporate Name
Select an available name that includes Corporation, Corp., Incorporated, Inc., Company, or Co. Check availability through Virginia SCC.
30 minutes
Appoint a Registered Agent
Designate a Virginia resident or entity authorized to do business in Virginia to receive legal documents.
15 minutes
File Articles of Incorporation
Submit Articles of Incorporation to Virginia State Corporation Commission with required information and filing fee.
45 minutes
Obtain EIN from IRS
Apply for Federal Employer Identification Number online through IRS website for tax purposes.
20 minutes
What's Next After Filing
Once your S-Corp is officially formed, you'll want to complete these important steps:
- •File Form 2553 with IRS — Submit IRS Form 2553 within 75 days of incorporation to elect S-Corporation tax status.
- •Create Corporate Bylaws — Draft bylaws outlining corporate governance, officer duties, and operational procedures.
- •Issue Stock Certificates — Issue stock to initial shareholders and maintain proper stock records and transfer ledgers.
Advantages
- ✓Pass-through taxation avoids double taxation
- ✓Limited liability protection for shareholders
- ✓Enhanced credibility with customers and vendors
- ✓Easier to attract investors and obtain business loans
Considerations
- •Strict IRS eligibility requirements and restrictions
- •Limited to 100 shareholders with ownership restrictions
- •Required annual filings and corporate formalities
Annual Obligations
What OpenChamber Does
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