Virginia. Named after Queen Elizabeth, the Virgin Queen, in a time when people still bought the story that if you were not married you were still a virgin. Your greatest cash crop is tobacco, though you innocently started out by trying to cultivate the mulberry trees that attract silkworms. Many of the old salts that would be our first presidents were born within your borders—Washington, Jefferson, Madison, Monroe—and as Richmond was the capital of the confederacy you've always walked the fine line between the north and south. Ever adapting and changing, blending both the rural and urban, you've got a lot going on, Virginia.
Virginia is also a diverse state in which to register your small escort business, and in this article you'll find clear step-by-step advice on how to do just that. For more information on why it's vitally important to register your business, refer to our article Don't get busted for tax evasion: Why registering your escort business is the only option.
For specifications on these structures federally visit IRS.Gov (http://www.irs.gov/businesses/small/article/0,,id=98359,00.html).
For some helpful advice on picking out a business name, visit Business.gov.
Step four: Register your business / business name
Other than corporations, registering your business and business name as well as registering for taxes and licenses is relatively easy with Virginia Business OneStop. This service will provide you with the most up-to-date information regarding forms, fees and due dates and is the fastest way to get your paperwork through to the government.
Sole Proprietorship:
In Virginia you are not required to register your sole proprietorship escort business as a separate business entity: because the business is you, it is not recognized as a separate business and you'll file your business information along with your own personal taxes. You are also not required to register your business name if it is your name.
But if you take on a DBA name, you'll have to file register the name with each county that you do business with. "Doing business with" refers to any place you'll be advertising or residing with a business address, not necessarily a location you'll be seeing clients. To find the contact information for counties in Virginia, go to Virginia.Gov—Mapping Virginia.
For more information on if taking on a DBA is a good choice for your business, refer to our article Do I want to be a sole proprietor?
Partnership:
In Virginia you are not required to register your general partnership as a separate business entity. However, it is highly recommended that you draft a statement of partnership authority or partnership agreement. This document will safeguard the details you've outlined within the partnership should you come into conflict with a partner down the road. While it is not required that you register this document with the commonwealth of Virginia, doing so will protect you further, and can be done rather easily and for a nominal $25 filing fee. You can find a statement of partnership authority for your personal or filing use at Virginia.Gov—Virginia Partnerships.
You are also not required to register your business name if it is the collected names of the partners. But if you take on a DBA name, you'll have to file register the name with each county that you do business with. "Doing business with" refers to any place you'll be advertising or residing with a business address, not necessarily a location you'll be seeing clients. To find the contact information for counties in Virginia, go to Virginia.Gov—Mapping Virginia.
Corporation:
To register your escort corporation in Virginia you'll need to file your Articles of Incorporation with the Commonwealth of Virginia State Corporation Commission. You'll include information on the amount of shares for the corporation, the incorporating persons and a $25 filing fee as well as a charter fee based on the amount of stock your company will carry. Because of the intricate information required when starting a corporation, it is highly recommended that you seek advice from a business lawyer and accountant. You can find forms, fees and schedules at Virginia.Gov—Virginia Stock Corporations.
Registering your Articles of Incorporation will register your business name, so you do not have to do this separately. However, if you choose to function under a name other than the one you've registered with in your Articles of Incorporation, you'll have to file that name with every county you conduct business with and then file those registration forms with the state commissioner.
LLC:
To register your escort LLC in Virginia, you'll need to file your Articles of Organization with the Commonwealth of Virginia State Corporation Commission. The form includes basic information about the members and managers of the LLC, and requires a $100 filing fee. You can find this form and file online at Virginia.Gov—Virginia Limited Liability Companies.
Registering your Articles of Organization will register your business name, so you do not have to do this separately. However, if you choose to function under a name other than the one you've registered with in your Articles of Incorporation, you'll have to file that name with every county you conduct business with and then file those registration forms with the state commissioner.
Step six: Register for your federal and Virginia state taxes
There are a few basic types of taxes small businesses in Virginia may register for.
- Individual Income Tax: If you're a sole proprietor or LLC, you'll file your business profits/losses in a Schedule EZ form that will go along with your personal income tax 1040 form. For more information go to IRS.gov. More information on personal income taxes in Virginia can be found at the Virginia Department of Taxation—Individuals General Information.
- Business Taxes: Corporations must file corporate income tax returns. LLCs and partnerships will pay "pay-through entity taxes" (the taxes are passed through to the partners or members for filing). More information, including forms, fees and due dates, can be found at the Virginia Department of Taxation.
- Unemployment Insurance: All businesses with employees pay unemployment insurance to safeguard the state's unemployed. More information can be found at the Virginia Employment Commission.
- Withholding Taxes: Employers must withhold taxes from employees for their personal income taxes on a federal and state level. More information and online registration can be found at the Virginia Department of Taxation.
- Workers Compensation: If you have more than two employees, you'll have to pay Workers' Compensation. Resources for employers and online filing can be found at the Virginia Workers' Compensation Commission.
- Self-Employment Taxes: If you own and operate your business and are not paid as an employee, you'll need to file your own self-employment taxes for social security and Medicaid. This is particularly true for sole proprietorships, general partnerships and LLCs. You can find this Schedule C / 1040 form and get more information at IRS.gov. Get more information at IRS.gov » Self-Employment Tax.
Register for and file many of these taxes at the Virginia Department of Taxation.
Step seven: Get necessary licenses and permits
There's no specific "escort license" in Virginia, and chances are you won't need any other permits to conduct your escort service, but it's a good idea to run your city through the IRS's Permit Me tool and get more information about specific filing from their site.
For more information about registering an escort business in Virginia, consider the following online destinations:
Find out how to register an escort business in each state of the USA.
Related resources:
Please note: Dating.com is not a legal service, nor are we tax advisors or accountants. We do offer you what we consider our best advice, but if at all in doubt, please consult a professional.
