State Information

Vermont

Selecting the Vermont Corporation or LLC Name

While you choose a name for your Vermont corporation, it should be remembered that the name will need to be unique and will identify you as a separate entity transacting business in the state. The name of a corporation must end with the word “Incorporated,” “Corporation,” “Corp” or “Inc.”. When developing a name for a limited liability company it must end with “Limited Liability Company” or “LLC”.

Because the name of your company will be identifying your corporation or LLC as a unique business entity, the name will not be accepted if it is likely to mislead the general public or if it too closely resembles the name of another corporation or LLC formed in Vermont.

State guidelines require that you do not use any type of punctuation such as dashes, periods or commas in name selection. It may be to your advantage to try to name your corporation or LLC so that the name identifies with the goods or services you provide, but this is not required.

Selecting a Board of Directors

A corporation within Vermont can have several members as director but is only required to have one serving if there is only one shareholder. If there is more than one shareholder for the corporation, there must be a corresponding director for each shareholder up to a minimum of three. Since the board is responsible for managing the corporation, it is usually suggested that the board be made up of individuals that are officers or shareholders who have some type of daily interaction with the corporation. Vermont has no minimum age requirement for directors.

Vermont Taxes

Corporations are expected to file the Vermont Corporate Income Tax return, Form VT CO-411 or BI471, Vermont Business Income Tax return annually, whether a “C” or “S” corporation. The amount of tax is dependent on a number of factors and there is a minimum tax of $250.00.

A Vermont based LLC is required to file BI471 Vermont Business Income Tax return with the minimum tax being $250.00. Vermont maintains an individual income tax so employers are expected to withhold state income tax. Vermont maintains a general sales and use tax of 5%.

Registered Agent

The registered agent must have a physical street address within Vermont state. PO boxes are not acceptable, within Vermont.

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