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What is the Virginia state corporation tax?

Virginia has a 6.0 percent corporate income tax rate. Virginia also has a 4.30 percent state sales tax rate, a 1 percent mandatory, statewide, local add-on sales tax rate, and an average combined state and local sales tax rate of 5.77 percent.

What is the difference between an LLC and an S Corp in Virginia?

S Corps are limited to 100 shareholders, all of whom must be U.S. citizens or residents. Operational Formalities: S Corps require more formalities, such as adopting bylaws, issuing stock, holding annual meetings, and keeping meeting minutes. LLCs have fewer mandatory requirements, offering more operational flexibility.

What are the different types of corporations in Virginia?

There are two types of corporations in Virginia, stock corporations, which are authorized to issue shares to persons who become shareholders, the owners of the corporation, and nonstock corporations, which may have members, but not owners.

What does the Virginia State Corporation Commission do?

How do I calculate my Virginia Annual Registration fee? Authorized SharesTotal Fee 1 5,000 $100 5,001 10,000 $130 10,001 15,000 $160 15,001 20,000 $1907 more rows

How much is VA incorporation fee?

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).