Starting a Business in Virginia
LLC filing: $100 | Corp filing: $75 | Business-friendly score: 7/10
Business Environment at a Glance
7/10
Business-Friendly Score
2% - 5.75%
Income Tax
4.3%
State Sales Tax
$12.41
Minimum Wage
Business Filing Fees in Virginia
| Item | Cost | Details |
|---|---|---|
| LLC Filing Fee | $100 | One-time, filed with Secretary of State |
| LLC Annual Fee | $50 | Due annually to maintain good standing |
| Corporation Filing Fee | $75 | One-time, Articles of Incorporation |
| Corporation Annual Fee | $50 | Annual report/franchise tax |
Tax Rates
| State Income Tax | 2% - 5.75% |
| Corporate Tax Rate | 6% |
| State Sales Tax | 4.3% |
| Max Local Sales Tax | 1.7% |
| Minimum Wage | $12.41/hr |
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Virginia Special Requirements
- Annual report required with State Corporation Commission ($50)
- BPOL (Business Professional and Occupational License) tax in most localities
- Virginia Employment Commission registration for employers
- Workers compensation required for 2+ employees