Opening and operating a business is exciting but daunting. The process of navigating many regulatory bodies is complicated, costly, and risky. Much of the risk of small business success is tied to regulatory compliance. A good idea and a marketing plan is not enough to succeed in business. You must be operating a compliant business. This includes home businesses and gig workers too. Thankfully, most Realtors operate a business underneath the umbrella of their brokerage which absorbs this risk on their behalf. It saves them time, energy, and effort.
Show Notes
Here is a guideline summary from the business department of James City County.
1. Application for Business, Professional and Occupational License: All businesses must complete and return by mail or in person - no faxed, scanned, or emailed applications accepted. Original ink signature only.
2. Fictitious Name (also called Trade Name, Assumed Name, or DBA): If you are doing business under a name other than your full name or the name of the corporation, LLC, PLC, or PLLC, you must register it as a fictitious name with the Virginia State Corporation Commission. After registering it there, provide a copy of it to this office with your business license application package. Visit https://scc.virginia.gov/clk/befaq/fict.aspx or call (804) 371-9733 for more information. We cannot register it for you.
3. Application for Home Occupation: Every business without a fixed commercial or professional location must complete and return this form with the business license application package. Do not include payment if you are submitting this form.
4. SCC Registration: If you are operating a corporation, LLC, or similar entity in Virginia, it must be registered with the Virginia State Corporation Commission (804-371-9733). Enclose a copy of your SCC registration with your business license application package.
5. Prepared Food and Beverage Tax Registration: All restaurants, stores, caterers, mobile food units, and any other vender of prepared food and beverage must complete and return this form with the business license application package.
6. Transient Occupancy Tax Registration: All hotels, motels, campgrounds, vacation homes, and any other business providing short-term lodging must complete and return this form with the business license application package.
7. Contractors: see “Contractor’s Business License Application Checklist” for guidelines specific to Virginia Class A, B or C contractors.
8. Handyman: See “Handyman’s Business License Application Checklist.”
9. Estimated Gross Receipts: Provide a reasonable estimate for the current calendar year. If after November 30, provide estimated gross receipts for the next calendar year. Estimate should be as close to actual as possible. Unreasonably low estimates are subject to correction plus 10% penalty.
10. Food Trucks and Trailers: See “Business License Application Instructions for Mobile Food Unit Vendors.”
11. Sole Proprietors and Partners: Must apply in person and present government-issued identification (driver’s license, passport, military ID, etc.).
12. Partnerships: All members of a partnership must appear in person at 101-B Mounts Bay Rd., and provide proof of identity to apply for a business license. All partnerships must provide a copy of their IRS Federal ID Number (FEIN) registration letter. Members must notify this office immediately of any changes in membership status.
13. Payment: You will be billed based on your estimated gross receipts and occupational category; see “Business Taxes and Fees” webpage for details.
14. Nonrefundable Minimum Fee: All business license applications are subject to minimum, nonrefundable $30 or $50 fee.