When you file the necessary application with the State Corporation Commission (“SCC”) the application must address several items.

1. First, the corporation name must have the words “Corporation”, “Company,” “Incorporated,” or “Limited” in the title or the appropriate abbreviation such as “Co.,” “Inc.,” etc.
2. Then you select whether the corporation will be a stock or non-stock entity.  
     a) Choosing non-stock will save you a minimum of $25 on filling fee.  It is also is one less record you have to maintain.  There is a tax consequence you can avoid which will be discussed later.
     b) Choosing the stock option makes ownership sharing easier and allows you to raise capital by selling stock. If a stock company, you must identify types of stock. Generally stock is either common or preferred. Next you state the par value (how much is each share to be initially worth) and number of shares you will issue.
3. Then you name a Registered Agent. This is the person who is contacted by the SCC when renewal is pending or if the company is being sued, the registered agent is served.  Generally this is the attorney who draws up your application, but it can be an individual who resides in the Commonwealth of Virginia.
4. You list the corporate office address.  For a domestic corporation, this must be in Virginia.
5. Finally, the application must be signed by an “Incorporator” who is generally is the owner (you).