How to Set up a Sole Proprietorship in Virginia
Determine a name for your sole proprietorship., Check the availability of fictitious names., Register your business name with the county clerk's office., Register for any licenses that pertain to your business., Obtain a tax ID number for doing...
Step-by-Step Guide
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Step 1: Determine a name for your sole proprietorship.
Create a name other than your own if you want to do business as a "dba" (doing business as), thus affording yourself a measure of anonymity. -
Step 2: Check the availability of fictitious names.
Log onto the website of the Commonwealth of Virginia State Corporation Commission at scc.virginia.gov.
Click on the tab "Business entities" and click the dropdown for "office of the clerk." Click on "Entity formation" in the left corner, and click on "Check name distinguishability." Enter your proposed business name to see if it is available. , Go to the Office of the Clerk in the county where you will be doing business.
They will provide you with the necessary form for registering your fictitious name.
Registry of the form will include a fee, which may vary by county.
Download the fictitious name registration form online at Virginia's Judicial System website at www.courts.state.va.us.
Go to "Forms," then to "Circuit court," and continue to "Forms available for completion online." Click on "Certificate of assumed or fictitious name." Download and fill out the form and take it to the proper county clerk's office in person. , Check to see what, if any, licenses are necessary for practicing business in Virginia.
Log onto the Commonwealth of Virginia website at www.virginia.gov.
Click on "Business" and go to "Business One Stop" under "Quick links." Click on "Starting" for information on specific licenses.
Contact your county's Commissioner of Revenue or Department of Finance to determine how to apply for licenses and the regulations for that specific county. , Apply online with the Internal Revenue Service at www.irs.gov.
Follow the link to "Apply for an EIN." Fill out all pertinent information and submit your form, which will be free of charge through the IRS website. , Choose a bank and inquire about what is needed to open a business account.
Things to consider are whether you want checking and savings accounts, overdraft protection, or interest-bearing accounts. -
Step 3: Register your business name with the county clerk's office.
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Step 4: Register for any licenses that pertain to your business.
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Step 5: Obtain a tax ID number for doing business within your city or county
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Step 6: also known as an EIN (Employer Identification Number).
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Step 7: Open a separate bank account for your new sole proprietorship.
Detailed Guide
Create a name other than your own if you want to do business as a "dba" (doing business as), thus affording yourself a measure of anonymity.
Log onto the website of the Commonwealth of Virginia State Corporation Commission at scc.virginia.gov.
Click on the tab "Business entities" and click the dropdown for "office of the clerk." Click on "Entity formation" in the left corner, and click on "Check name distinguishability." Enter your proposed business name to see if it is available. , Go to the Office of the Clerk in the county where you will be doing business.
They will provide you with the necessary form for registering your fictitious name.
Registry of the form will include a fee, which may vary by county.
Download the fictitious name registration form online at Virginia's Judicial System website at www.courts.state.va.us.
Go to "Forms," then to "Circuit court," and continue to "Forms available for completion online." Click on "Certificate of assumed or fictitious name." Download and fill out the form and take it to the proper county clerk's office in person. , Check to see what, if any, licenses are necessary for practicing business in Virginia.
Log onto the Commonwealth of Virginia website at www.virginia.gov.
Click on "Business" and go to "Business One Stop" under "Quick links." Click on "Starting" for information on specific licenses.
Contact your county's Commissioner of Revenue or Department of Finance to determine how to apply for licenses and the regulations for that specific county. , Apply online with the Internal Revenue Service at www.irs.gov.
Follow the link to "Apply for an EIN." Fill out all pertinent information and submit your form, which will be free of charge through the IRS website. , Choose a bank and inquire about what is needed to open a business account.
Things to consider are whether you want checking and savings accounts, overdraft protection, or interest-bearing accounts.
About the Author
Jose Campbell
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