Do I Need to Register an S Corporation in VA?

by Christopher Carter

A Virginia S corporation begins its existence when a corporate charter filing occurs with the Virginia State Corporation Commission. Since a Virginia S corporation forms as a result of the Internal Revenue Code, the company must file the appropriate paperwork with the Internal Revenue Service to gain S corporation status. S corporations in Virginia must register with the Virginia Department of Taxation for tax purposes.

Articles

Every S corporation in Virginia must register with the Virginia State Corporation Commission by filing articles of incorporation. The Virginia State Corporation Commission website provides fill-in-the-blank articles of incorporation that can be used to begin the legal existence of the business. The articles must contain the legal name and location of the business, the number of shares the company has the authorization to issue, and the name and address of the company's registered agent. A registered agent has the obligation of accepting legal documents delivered against the business. The name and address of each initial director must appear in the articles, along with the name and address of each incorporator. An incorporator has the responsibility of filing the articles with the Virginia State Corporation Commission. As of the time of publication, it costs $75 to file articles of incorporation with the Virginia State Corporation Commission.

EIN

All S corporations in Virginia are required to acquire an employer identification number from the IRS. The easiest way to get an EIN is to apply online using the IRS website or call the IRS Business and Specialty Tax line (800-829-4933). The company must provide the name, address and social security number of an authorized individual. The nature of the company's business activities, the number of people that work for the company and the date when the business came into existence must appear on the EIN application. The IRS will assign an EIN to the Virginia S corporation at the conclusion of the telephone or online session.

Form 2553

To become an S corporation, a company must file Form 2553 with the IRS. Form 2553 must be filed within 75 days of filing articles of incorporation with the Virginia State Corporation Commission. The date of incorporation, EIN, name and location of the business and tax year of the company must appear on Form 2553. The company must provide the name, title and telephone number of an authorized representative. Each shareholder must sign and date Form 2553. S corporations in Virginia must fax form 2553 to 859-669-5748 or mail to the Department of Treasury, Internal Revenue Service, Cincinnati, OH 45999.

Considerations

An S corporation in Virginia must register with the Virginia Department of Taxation for tax purposes. The state taxes imposed on a Virginia S corporation vary based on the nature of the company's business activities. The company must print Form R-1, also known as a business registration application, from the Virginia Department of Taxation website. The application must contain the name and location of the company, structure of the business, EIN and description of the company's business activities. The contact name and phone number of an authorized individual must appear on the form. The cost to register with the Virginia Department of Taxation varies based on the nature of the company's activities.

About the Author

Christopher Carter loves writing business, health and sports articles. He enjoys finding ways to communicate important information in a meaningful way to others. Carter earned his Bachelor of Science in accounting from Eastern Illinois University.

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