Every business must be compliant with all of the relevant laws and regulations at both the state and federal level. These vary depending on the industry in which you operate, the structure of your company, and the base of your business.
Compliance is a complex matter, and there is a lot at stake if you fail to understand and meet the requirements. Therefore, many companies outsource this crucial task to HR professionals. Smart HR can handle business compliance on your behalf, including the financial and safety regulations, so you can focus on growing your business.
Initial Compliance
Starting a business can be an exciting time, but it is important to ensure that you are prepared to meet state compliance requirements and submit the required legal documents.
Articles of Organization
Smart HR can help businesses with the initial paperwork required to legalize their business operations in the state of Virginia.
Registered Agent
Virginia requires businesses operating in the state to appoint a registered agent who will receive process services and legal documents on behalf of the company. We can ensure the individual or business entity you choose meets the requirements.
Operating Agreements
Although an LLC in Virginia is not required to create an operating agreement, it is highly recommended to protect the company from disagreements among members. Smart HR will help you establish the rights and responsibilities of management and detail the procedures needed for business operations, in addition to outlining financial and operational relationships in this important document.
Ongoing Compliance
Completing the registration process is just the first part of state business compliance; it is also necessary to ensure ongoing compliance and pay annual registration fees.
Smart HR can offer valuable advice and assistance with all of the important tasks involved in internal and external compliance.
Internal Compliance
Internal compliance for corporations involves maintaining files of transactions, procedures and bylaws, as well as records of licenses and contracts. Other components include holding annual meetings, having a board of directors, providing stock to shareholders and recording stock transfers.
For LLCs, paperwork and record-keeping related to transactions, policies, operating agreements, contracts and licenses is essential, as is recording minutes from annual meetings and member interest transfers.
External Compliance
External compliance requirements will vary depending on the industry. For example, teachers, doctors and lawyers need valid licenses to operate in their state, while developers need to file environmental impact statements to adhere to zoning laws. Healthcare, military, law enforcement, and finance all have their own sets of rules. Smart HR can ensure you are following all of the regulations that apply to your business.
State Compliance Audits
Smart HR can carry out an analysis of the following aspects of HR to ensure compliance at the state level:
- Record Keeping
- Compensation
- Hiring and Recruitment
- Benefits
- Terminations
- Communication
- Posting Requirements
- Policies and Procedures
- Employee Relations
Get In Touch With Smart HR
Smart HR can help your business manage compliance and mitigate risks such as fines and lawsuits. Reach out to our team of human resources professionals today to find out how we can ensure you are following all of the laws, standards, and regulations that apply to your industry.
