2006 Code of Virginia § 13.1-615.1 - Charter and entrance fees for corporations

13.1-615.1. Charter and entrance fees for corporations.

A. Every domestic corporation, upon the granting of its charter or upondomestication, shall pay a fee into the state treasury, and every foreigncorporation, when it obtains from the State Corporation Commission acertificate of authority to do business in this Commonwealth, shall pay anentrance fee into the state treasury. The fee in each case is to beascertained and fixed as follows:

For any domestic or foreign corporation whose number of authorized shares is1,000,000 or fewer shares - $50 for each 25,000 shares or fraction thereof;

For any domestic or foreign corporation whose number of authorized shares ismore than 1,000,000 shares - $2,500.

B. For any foreign corporation that files articles of domestication and thathad authority to transact business in this Commonwealth at the time of suchfiling, the charter fee to be charged upon domestication shall be an amountequal to the difference between the amount that would be required by thissection and the amount already paid as an entrance fee by such corporation.Whenever by articles of amendment or articles of merger, the number ofauthorized shares of any domestic or foreign corporation or of the survivingcorporation is increased, the charter or entrance fee to be charged shall bean amount equal to the difference between the amount already paid as acharter or entrance fee by such corporation and the amount that would berequired by this chapter to be paid if the increased number of authorizedshares were being stated at that time in the original articles ofincorporation. If no charter or entrance fee has been heretofore paid to thisCommonwealth, the amount to be paid shall be the same as would have to bepaid on original incorporation or application for authority to transactbusiness.

(1988, c. 405; 2001, c. 545; 2002, c. 1.)