Virginia Sample Letter for Certificate of Transaction of Business under Fictitious Name - By Partnership
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How to fill out Sample Letter For Certificate Of Transaction Of Business Under Fictitious Name - By Partnership?
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FAQ
Assumed or fictitious names can be used in Virginia provided that they are recorded in ance with the law (Code of Virginia 59.1-69). The purpose of recording an assumed or fictitious name is to prevent fraud and deceit in business.
In the case of a business owned by an individual, a ?fictitious business name? is any name that does not include the last name (surname) of the owner, or which implies additional owners (such as "Company", "and Company", "and Sons", "Associates", etc.).
Virginia does not require businesses to obtain or use a DBA. It is completely optional. Whether you should get a DBA depends on your business strategy. As discussed above, a DBA can benefit a sole proprietor by providing privacy and making it easier to avoid commingling personal and business assets.
In Virginia, a DBA is known as a ?Fictitious Name.? When individuals or entities operate a business under a name other than their own legal name, they must file a Fictitious Name Certificate with the State Corporation Commission. The fee for filing a Fictitious Name Certificate is $10.
Open for Business Step 1: Select a Business Type. This decision will impact both your legal protections and benefits. ... Step 2: Choose a Business Name. This distinct name is how others and the SCC will recognize your business. ... Step 3: Select a Registered Agent. ... Step 4: Register with the SCC.
A fictitious business name statement usually must be filed within 40 days of starting the business. Along with the original, the county or city may require several copies of the statement for filing. The clerk or recorder will certify and return all copies to the registrant, keeping the original.
How to start a business in VA: A step-by-step guide Write a business plan. ... Choose a business structure. ... Name and register your business. ... Obtain your EIN, tax information and licenses. ... Obtain business insurance. ... Open a business bank account and get a business credit card. ... Secure startup funding. ... Market your business.
Virginia refers to DBAs as ?fictitious names? and must be registered with the state. Virginia sole proprietors, general partnerships, LLCs, corporations, and all other types of businesses can use a DBA as the public name and face of the business.