Vermont Business Facts
Small businesses make up a great part of Vermont’s economy. In 2014, three-fifths of the private workforce comes from companies with less than 500 employees. One of the big challenges Vermont is confronted with is the sparse population. Hence, the need to strengthen tourism in Vermont is highly imperative.
Major Companies Headquartered in Vermont
Vermont is the headquarters of many major companies including Brookshire’s, UVM Medical Center – Dermatology, Keurig Green Mountain, University of Vermont, and Casella Waste Systems.
Vermont is a good place to start a new business venture because of the supportive communities and the strong and stable economy.
There are 3 basic options: a Corporation, LLC or DBA. Click here to learn more about business entities.
Choosing a business name is easier said than done – many legal and business problems can arise from picking the wrong name (you can always change it later but the less times you have to do that the better). In Step 3 we’ll show you how to search for the name in Vermont, but we highly recommend you do the following before searching Vermont state databases:
NOTE: Familiarize yourself with the Vermont naming guidelines. LLC entity names need to contain the words Limited Liability Company or the abbreviation LLC, and certain words are restricted or prohibited.
Restrictions on Vermont Business Name & Business Purpose
Each state has its own requirements for registering a business. Now that you’ve chosen a business structure and selected your business name, here are the requirements to register your business in Vermont.
How to form an LLC in Vermont
How to Incorporate in Vermont
NOTE: When registering a new company the Secretary of State can take several weeks to file the paperwork. You can expedite the process by hand delivering the documents directly to them or one of their field offices and paying an additional fee.
TIP: Check our order form to see how long Vermont is currently taking to process regular and expedited orders.
How to File a DBA in Vermont
Optional Considerations when registering a Vermont business
Ready to register a business in Vermont?
Sure, you could do all the steps above or you could spend 5-10 minutes on our order form and let us take care of it while you work on more important things.
To keep business and personal expenses separate, you should open a separate account for your business. In addition, getting business credit cards is how you begin to build a company credit profile (corporation or LLC required) and can later qualify for larger loans and lines of credit. To open the account simply call your chosen bank and inquire on the steps to open a business bank account. Typically you’ll need a) your filed paperwork, b) your EIN and c) a company resolution authorizing your company to open the account (signed by the owners, members, officers or directors, etc.).
Top 5 Major Banks in Vermont
TIP: Our business formation service includes a free banking resolution for your use.
Now that you’ve registered your business name you need to obtain a business license for your company – this authorizes your company to do business in your city or county. Typically this also involves registering for state taxes and permits (the city may require them as part of the business licensing process).
TIP: We work with a company that can obtain and prepare business licenses and permits for you. Click here to learn more.
DBA: Your Fictitious Business Name should be valid for 5 years, with option for renewal.
LLC: Vermont corporations are required to file a Periodic Report with the Vermont Secretary of State each year by March 31, in addition to general taxation. Information on your business’ taxes can be found here. The filing fee is $35.
Corporation: Business in Vermont should file a report annually by March 15 to the Division of Corporate and Consumer Services. The annual report fee is $45.
Corporations & Business Services (for Corporation and LLC filings)
128 State Street
Montpelier, Vermont 05633-1104
Phone: Metro Area: 802-828-2386
Vermont Taxation Departments
Vermont Labor and Employment Departments
Vermont Startup Resources
1. Small Business Administration (SBA) Vermont District Offices
2. SCORE Vermont
3. Vermont Legal Statutes
6. Angel.co Vermont Startups
7. Vermont Business News
9. Vermont Small Business Development Center
10. Vermont Green Business Program
Wow loved it thankyou! I dreaded making this for a month thinking it would be a hassle. It wasn't thanks to you guys!
Excellent in all aspects. Perfect for new business owners with limited resources but wants to start it off right.
IMPORTANT: We are open and have resources for small businesses to get help with Covid19!