Professional Corporation Package for Virginia
Understanding this form package
The Professional Corporation Package for Virginia includes all the necessary forms to establish a professional corporation for state-licensed professions within Virginia. This package simplifies the process by allowing you to easily customize the documents with your profession's name and ensuring compliance with relevant Virginia laws.
What’s included in this form package
- Virginia Articles of Incorporation for Professional Corporation
- Application of Name Reservation
- Annual Minutes for a Virginia Professional Corporation
- Sample Bylaws for a Virginia Professional Corporation
- Sample Corporate Records for a Virginia Professional Corporation
- Organizational Minutes for a Virginia Professional Corporation
- Sample Transmittal Letter for Articles of Incorporation
- Election of 'S' Corporation Status and Instructions - IRS 2553
- I.R.S. Form SS-4 (to obtain your federal identification number)
Situations where these forms applies
This package is ideal for professionals seeking to establish a legal entity for their practice in Virginia, such as doctors, lawyers, and accountants. You should use this package when you are ready to form a professional corporation that complies with Virginia's specific legal requirements, particularly if you want to protect your personal assets from business liabilities.
Intended users of this form package
- Licensed professionals in Virginia who want to form a corporation.
- Individuals or groups interested in offering professional services that require state licensure.
- Anyone looking to limit personal liability while conducting business in a regulated profession.
How to complete these forms
- Review the included forms to understand your requirements.
- Reserve your corporate name using the Application for Reservation of Entity Name form.
- Complete the Articles of Incorporation form with the necessary details of your professional corporation.
- Prepare and send the required documents and fees to the Virginia State Corporation Commission.
- Conduct an initial meeting to adopt bylaws and elect directors and officers.
- Apply for a Federal Tax Identification Number to set up official business operations.
Notarization requirements for forms in this package
Forms in this package typically do not require notarization unless required by local law. However, it's essential to verify specific requirements related to your professional field to ensure compliance.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Failing to check the availability of the corporate name before reservation.
- Not verifying compliance with the specific licensing requirements for your profession.
- Neglecting to hold an initial organizational meeting after incorporation.
- Submitting incomplete forms or forgetting to include necessary fees.
Benefits of completing this package online
- Convenience of instant access to legally compliant forms from anywhere.
- Ability to customize and edit the documents easily to suit your profession.
- Regular updates ensure you have the most current legal requirements.
Legal use & context
- This form package is enforceable under Virginia law, specifically for licensed professions.
- Filing inaccuracies can lead to rejection of your Articles of Incorporation and may delay your practice start date.
- Using the correct forms helps to ensure that your professional corporation is compliant with applicable regulations.
Key takeaways
- This package provides all necessary forms to establish a professional corporation in Virginia.
- Following strict compliance with state regulations is essential for legal formation.
- Common errors include not reserving a name and improper filing of documents.
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FAQ
Choose a corporate name. File your Articles of Incorporation. Appoint a registered agent. Start a corporate records book. Prepare corporate bylaws. Appoint initial directors. Hold first Board of Directors meeting. Issue stock to shareholders.
You must file the Articles of Incorporation with the California Secretary of State, along with a filing fee of $100. Note that your corporation will also be responsible for an annual tax of $800 to the California Franchise Tax Board.
An S corporation is a special form of corporation, named after the relevant section of the Internal Revenue Code. It is taxed on a pass-through basis, meaning it doesn't pay taxes in its own right. In principle, an S corporation can have no employees.
Virginia Formation Documents Use the Clerk's Information System (CIS) or complete Articles of Incorporation (Form SCC 619) and file it with the State Corporation Commission. Use CIS or complete Articles of Incorporation (Form SCC 819) and file it with the State Corporation Commission.
Articles of incorporation are filed with the Commonwealth of Virginia State Corporation Commission (SCC). Preparing and filing articles of incorporation is the first step in starting your business or nonprofit corporation.
Virginia requires companies incorporating to pay a filing fee of $25 and a charter fee.
Key takeaway: Having your LLC taxed as an S corporation can save you money on self-employment taxes. However, you will have to file an individual S-corp tax return, which means paying your CPA to file an additional form. An S-corp is also less structurally flexible than an LLC.
Virginia charges a minimum of $75 ($25 filing fee and $50 for up to 25,000 authorized shares) to file the Articles of Incorporation. Add another $50 for up to 25,000 shares (add $50 for each additional 25K of shares).
