While the County Administrator’s Office is available to assist existing and potential new businesses wishing to locate in King George County, the following resources may be useful as well:
Like home insurance, business insurance protects the contents of your business against fire, theft and other losses. Contact your insurance agent or broker. It is prudent for any business to purchase a number of basic types of insurance. Some types of coverage are required by law; others simply make good business sense.
The County requires a business license to do business in King George County. Please see refer to the Commissioner of Revenue’s Office or contact (540) 775- 4664.
CERTIFICATE OF OCCUPANCY
If you are planning on occupying a new or used building for a new business, you may have to apply for a Certificate of Occupancy from our Department of Community Development. For more information contact (540) 775-7111.
FEDERAL SELF EMPLOYMENT TAX
Everyone must pay Social Security Tax. If you are self-employed, your Social Security contribution is made through the self-employment tax. You will need to calculate how best to report earnings and pay your business taxes. Contact the IRS at (800) 829-1040, visit your local IRS office or go to the Official IRS Website for more information. The IRS may seem like a complicated maze, but there are publications, counselors and workshops available to help you sort it out.
FICTITIOUS BUSINESS NAME
Businesses that use a name other than the owner's must register the fictitious name with the county's Clerk of the Court as required by the Trade Name Registration Act. This does not apply to corporations doing business under their corporate name or to those practicing any profession under a partnership name. For more information contact the King George County Clerk of the Circuit Court.
The Federal Immigration Reform and Control Act of 1986 requires all employers to verify the employment eligibility of new employees. The law obligates an employer to process Employment Eligibility Verification Form I-9. The Immigration and Naturalization Service Office of Business Liaison offers a selection of information bulletins and live assistance for this process through the Employer Hotline. In addition, INS forms and the Employer Handbook can be obtained by calling the Forms Hotline. For Forms: (800) 870-3676 Employer Hotline: (800) 357-2099
Virtually all business entities are subject to the federal minimum wage, overtime and child labor laws. Information on these laws and other federal laws may be obtained from the VA Department of Labor & Industry.
MISCELLANEOUS BUSINESS TAXES
Contact the Virginia Department of Taxation regarding the following taxes: aircraft and watercraft sales and use tax, forest products tax, litter tax, miscellaneous commodities tax, soft drink excise tax and tire tax.
SALES TAX NUMBER
In your state there is a percent sales and use tax which applies to the retail purchase, retail site, rental, storage, use or consumption of tangible personal property and certain services. In other words, sales tax must be collected on just about every tangible item sold. A sales tax number is required for each business before opening. The number, plus instructions for collection, reporting and remitting the money to the state on a monthly basis, can be obtained from your state government.
Business owners are required by law to withhold the following from the wages paid to employees: federal income taxes, state income taxes and FICA (Social Security) Insurance. Income taxes will also be levied by the federal and state governments on earnings of any business. Therefore, each business must file an income tax return with both agencies. Businesses may be required to file estimated tax returns and pay estimated taxes on a quarterly basis. The Internal Revenue Service (IRS) has a number of publications that are available upon request to small businesses. One of the most helpful is Your Business Tax Kit, which includes data and forms for a Federal Employer Identification Number and a tax guide for small businesses that can be ordered by calling Forms and Publications at (800) 829¬3676 or through a visit to your local IRS office. You may want to contact your local Social Security Administration Office for (FICA) Insurance information. For State tax information, call your state government.
UNEMPLOYMENT INSURANCE TAX
Employers must pay unemployment insurance tax if they employ one or more persons for 20 or more weeks during a calendar year, or if they wages of $1,500 or more during any calendar quarter. Contact the Virginia Employment Commission – Fredericksburg, Virginia at (540) 898-3806 for more information.
If federal law requires an employer to hold tax from any payment, Virginia also requires withholding. If required to file withholding returns, an employer must register for withholding tax, file income tax withholding returns and pay the income tax to the Virginia Department of Taxation. Employers are responsible for timely payment and filing of their incurred withholding liability.
WORKERS' COMPENSATION INSURANCE
If a business employs three or more people, workers' compensation insurance must be carried to provide protection to those injured in on-the-job accidents. The State Board of Workers' Compensation aids people who need claim assistance. For more information contact your state government.
If you have any questions please contact:
Nicole Thompson, Director of Economic Development
Telephone: 540 775-9181
Fax: 540 775-5248