Opening a New Business

S Corporations, Partnerships, and Limited Liability Companies 

Every individual, partnership, corporation, etc., who engages as a business retail dealer in Virginia must register with the State Department of Taxation. They must also collect the retail sales tax, file reports and pay taxes either monthly or quarterly, depending upon the volume of business. For more information, contact:

Retail Sales & Use Tax

The state of Virginia and the federal government levy taxes on employees’ wages. The employer pays the state tax into a state fund that pays unemployment benefits. For more information, contact:

Virginia Employment Commission

Any employer who has three or more regular employees must furnish workers’ compensation insurance coverage at no cost to the employees. The employer may either purchase the insurance through a private insurance company or apply to the Workers’ Compensation Commission to be a self-insurer. For more information specific to contractors and subcontractors, read the Workers’ Compensation Information for Contractors and Subcontractors.

https://workcomp.virginia.gov/