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Nevada Commerce Tax

Date: 04/06/2019 | Category: | Author: Jakub Vele

Nevada Commerce Tax - All You need to Know

With your company registered in Nevada, there are many things that you need to take care of. And one of the main things is complying with the laws and paying the applied taxes on time. Speaking of taxes, Nevada has always been a favorite for many entrepreneurs when it comes to starting a company here. And the simple reason for this is that the state has never imposed any gross receipts tax, Nevada commerce tax or business income tax.

Being a “tax-free state,” Nevada has always attracted a lot of businessmen to set up their companies here. As a matter of fact, any business that wants to incorporate outside from their “home” state usually choose Nevada as the state to incorporate in due to the lack of the state income taxes and the low filing fee. But recently in a 2015 Legislative Session, there was a new law created. This law is called the Nevada Commerce Tax law.

The Nevada Commerce Tax

It was before the 78th Nevada Legislative Session when the “The Revenue Session” was dubbed in reference to the bipartisan acknowledgment of the legislators that the legislation has to meet the growing budget demands of Nevada. Then in 2015, during the session, the new Commerce Tax was introduced. And the aim for the tax was to increase the revenue for the education system in the state.

The new Nevada Commerce Tax is a tax that is imposed on the rights of a person who is earning from a business that is registered Nevada. This tax is only applied to those businesses that have a gross income that exceeds $4 million in a taxable year.

Moreover, there is still no tax imposed on personal income. The government aims at imposing the tax on the strong business revenues and not on the wages. And with the new Business Taxes in Nevada (Senate Bill 483 (SB 483)), a company has a threshold of $4 million that can be deducted from the gross revenue when finding the Nevada Commerce Tax liability.

As a matter of fact, it is not the threshold for filing. This means that any company that is running a business in Nevada has to file the Commerce Tax Return. This is regardless of it the company’s tax liability unless the company is exempt from filing for the tax return.

So, if a company earns an amount that is less than $4 million as total income in a fiscal year (financial year), they can select the box on the form of the Nevada Commerce Tax Return indicating that the company has an income that is below the threshold. This form would then have to be submitted to the government. On the other hand, those that have an income that exceeds the threshold would have to calculate the liability of the Nevada Commerce Tax.

And it is normal for all the additional state taxes that come in to be burdensome for many businesses, but the Nevada Commerce Tax has many unique aspects as shared below:

  • Tax is imposed on a separate entity basis.
  • Taxpayer funding is used for potential state audit expenses.
  • A fiscal year filing requirement.
  • Virtually no deductions from gross receipts.

What entities are subjected to the Nevada Commerce Tax?

Those businesses that are engaged in business within Nevada are subjected to the Business Taxes in Nevada. A business entity means a:

  • A corporation (C- or S-corporation)
  • A joint venture (Note: This includes any joint venture, excluding the co-ownership arrangement or joint operating company, that meets the requirements of 26 C.F.R. §1.761-2(a)(3), Treasury Regulations §1.761-2(a)(3) and that elected out of the federal partnership treatment as offered by 26 U.S.C. §761(a).)
  • A partnership
  • A limited-liability partnership
  • A joint stock company
  • A proprietorship
  • A business trust
  • A bank
  • A holding company
  • A Limited-liability company
  • A business association
  • A professional association
  • A savings and loan association
  • A sole proprietorship
  • Independent contractors
  • The individuals with rental real estate or royalties
  • Or any other person that is engaged in business in Nevada, which also includes a natural person who files schedule E, part I, with their Federal tax return.

“Engaging in business” means that continuing, conducting, and commencing a business and the exercise of franchise or corporate powers concerning a business, without any limitations.

Let us take an example to understand this better:

Example: KLMNOP Inc. is corporation that is incorporated in Nevada and has the license to work in Nevada. Now, let us say that all the activities of the business are in California and there isn’t any income in Nevada for the company. In this case, the company would have to file the Commerce Tax Return in Nevada. Nevertheless, since it is not getting any income from Nevada, it would not have a tax due.

But remember that the filing is an important step that has to be done regardless of if the company is getting income from Nevada or not, and if the company has a Nevada license to do business. Moreover, the companies that are set up in other states but are engaged in business in Nevada are also obligated to file the Nevada Commerce Tax Return.

In short, the activities that are subjected to the imposition of the tax includes renting, leasing, or selling personal or real property in Nevada, offering services while being physically located in Nevada, holding and maintaining a business facility or place in Nevada, entering into a contract to work in Nevada, and having employees in Nevada. So, if any company is performing any of the above mentioned activities have to file for the business taxes in Nevada.

Which Entities are Exempt from the Nevada Commerce Tax?

Yes, there are some organizations that are not obligated to file for the Nevada Commerce Tax. And the entities that are exempt from filing for the new Nevada Commerce Tax include:

  • IRC 501(c), NRS 82 and NRS 84 non-profit organizations
  • Grantor trusts
  • Credit unions
  • Business entities organized pursuant to NRS 82 or NRS 84
  • Passive entities
  • Real Estate Mortgage Investment Conduits
  • Governmental entities
  • Certain Real Estate Investment Trusts
  • Individuals
  • Entities that only manage and own intangible investments, that includes patents, trademarks, stocks, bonds.

Entities that are exempt from the Commerce Tax must file an Exempt Status Entity Form with the Nevada Secretary of State. The exemption remains in place until the status of the business changes.

What is Taxed?

The Commerce Tax applies to gross revenues that are “sitused” in Nevada. Such gross revenues include:

  • revenue from rents, royalties, and sales of real property are sitused in Nevada if the real property is located in Nevada;
  • revenue from rents and royalties from personal property are sitused in Nevada if the personal property is located or used in Nevada;
  • revenue from the sale of personal property is sitused in Nevada if the property is delivered or shipped to a buyer in Nevada, regardless of the origin or other condition of sale; and
  • revenue from transportation services is sitused in Nevada if both the origin and destination points of the transportation are located in Nevada.

The legislation also contains a “catchall” provision for gross revenue not otherwise described, which is extremely broad and undetailed. The “catchall” was a subject of substantial discussion at the initial regulatory hearing before the Department of Taxation (Department) on July 7, 2015, and is likely to be clarified as the Department establishes its regulations on this tax.

Returns, Commerce Tax Year and Filing Deadline

The Commerce Tax year runs from July 1 through June 30. Returns are due 45 days following the end of the tax year. For 2016, the filing deadline was Aug. 15, 2016. A 30-day extension of time to file is available upon written request – currently there isn’t a separate form for the extension request.

Penalties and interest will be assessed if the Commerce Tax Return is not timely filed or the tax timely paid, based on the amount of unpaid tax. For this first tax year, there is a grace period until Feb. 15, 2017 to file and pay the tax. Penalties and late charges may be waived if the return is filed and the amount due is paid during the grace period if there is good cause for being late (i.e., the failure occurred despite the exercise of ordinary care and was not intentional or due to willful neglect). Waivers will be determined on a case-by-case basis.

Each separate entity must file its own Commerce Tax Return – there is no provision for consolidated returns. Simplified reporting is available for entities with less than $4,000,000 gross Nevada revenues for the year; and, returns can be filed online.

Fiscal year tax

The tax year is a fiscal year ending June 30. The report is due 45 days after the end of the fiscal year ending June 30, 2017. This means your commerce tax return and payment will be due August 14, 2017.

You may request a 30-day extension by written request with “good cause” before the due date. SB 483 does not provide a clear nexus standard applicability to the commerce tax and does not address the applicability of the physical presence nexus standard and Public Law 86-272.

Exclusions and deductions

There are exclusions and deductions from gross revenue. However, there is no deduction for cost of goods sold or other expenses incurred. The commerce tax rates vary depending on the industry type, based on your North American Industry Classification System (NAICS) code. The NAICS code reported on the initial return links your status with the state. If an appropriate NAICS category cannot be determined, the unclassified rate of 0.128% will be applied. The rates range from 0.051% to 0.331%.

The Welcome Letter

All Nevada entities should have received a “Welcome Letter” with information regarding the Commerce Tax filing requirements and enrollment instructions. Due to difficulties in implementing the tax, some entities may not have received the notice and other entities that have no Nevada revenues may not realize there is still a filing requirement. Additional information regarding the filing and registration requirements can be found on the State of Nevada Department of Taxation website.

This Taxpayer ID number is different from your Nevada Business ID number which is located on your Nevada State Business License. Your Taxpayer ID number is what you will use to file the Commerce Tax Return. If you did not receive a letter, please contact the Nevada Department of Taxation Taxpayer Call Center at 866-962-3707 to get the Tax ID number assigned to your business.

Steps to Take Before Filing for the Nevada Commerce Tax Return

Now that you know the basics of the Nevada Commerce Tax let us understand what to do next. So, before you can file, there’s a couple of steps that you’ll need to take:

STEP 1: You have to determine your NAICS code, that’s the acronym for the North American Industry Classification System from the 26 different categories selected by the state to choose from. To determine which NAICS code applies to your business you can look it up at the following link http://www.naics.com/search/ and then drill down from the initial category to determine which one best describes your primary business activity.

Please note: If your business operates multiple types of businesses under its single entity that don’t fall under the same NAICS code (like a bar and laundromat), the NAICS code would be the category where the highest percentage of revenue comes from.

STEP 2: You have to mail in or file online at http://tax.nv.gov/comtax/ the Commerce Tax Additional Information Form which is how you complete your registration. The state has to gather information such as your federal tax id number; the names and addresses of the owners, partners, corporate offers, managers and members of the business.

They also want to know if you’re enrolled in any other taxes in the state such as the Modified Business Tax – which is tied to a Nevada business that has Nevada employees; The Sales/Use Tax applies if you sell tangible goods in the state whereby you have to collect and remit the sales tax.

Use Tax means that if you bought something outside the state of Nevada and did not pay sales tax, that by law you’re supposed to report and pay the sales tax that you would have paid had you purchased the same item in the state.

Certificate of Authority relates to a retailer who does not maintain a place of business in the state, but obtains a certificate authorizing him to collect the sales tax from a purchaser here and then turns around and pays the sales tax to the state. Typically, you see this with online retail organizations.

Excise taxes apply to sales of gasoline, cigarettes, alcohol, cellphones, and vehicle registration and title fees all of which are flat per-unit taxes that must be paid directly to the Nevada government by the merchant before the goods can be sold. You must submit the Commerce Tax Additional Information Form so you will be ready to file by August 15th.

How to file for the Nevada Commerce Tax Return?

Now, let’s talk about the Commerce Tax Return in detail so that you know what you are doing. If your business’s gross revenue, that’s money earned only in the state of Nevada, ranges from zero to $3,999,999.99 cents during the state’s fiscal year which begins July 1 and ends on June 30th, the following year, you qualify for the simplified reporting. You still have to submit the tax return which may take 2 minutes to file online, but remember the really good news, there’s no tax due! Here is the link to the various Business Taxes in Nevada – https://www.nevadatax.nv.gov/

Future heads up. If you’ve always been under the four million mark and during the next fiscal year, again that’s July 1 through June 30th your status changes, meaning you now have Nevada gross revenues that exceed four million dollars, then be aware you’ll need to complete the entire tax return the next time you file. As I said, it may take two minutes to file if fall under the four million in gross revenue so let me share this quick instruction of what you’ll need to complete:

  • Fill in the taxable year (example July 1, 2015 through June 30, 2016)
  • Fill in the State Tax ID Number as shown on the Welcome Letter/upper right hand corner.
  • Fill in the NAICS code
  • Fill in the Business name
  • Fill in the Business address
  • Check the box: I declare that the Gross Revenue from engaging in business in Nevada of the above Business Entity did not exceed $4,000,000 during the taxable year.
  • SKIP TO BOTTOM OF FORM: Check the ‘Under Penalty of Perjury’ box, sign, put in your phone number, name, title and date.
  • PRINT THE RETURN for your records.

Then Hit the Submit via email button to complete the filing online, or you can mail it to the Nevada Department of Taxation

Please make sure you task yourself to file the tax return every August 15th, because the state will not send any reminders. Also, make sure you keep copies of your returns for a minimum of four years, however I recommend you keep them for as long as you have the business.

Now, let’s move onto those businesses that have Nevada Gross Revenue that Exceeds Four Million dollars. The date to file is still August 15th and of course, you have to pay the commerce tax which is based on the rate associated with your NAICS code. You can request an extension to file for up to 30 days without penalty but, if there are any taxes due, interest will accumulate along with any penalties assessed after the 30-day extension expires.

If you’re a Nevada resident and your business is incorporated outside of Nevada, you should complete the Nexus Questionnaire to determine if you are subject to the commerce tax. Most likely not, but you better make sure. Here is the link to it – http://tax.nv.gov/uploadedFiles/taxnvgov/Content/FAQs/COM_nexus_questionnaire.pdf

I can’t even begin to describe how complicated they’ve made the ability to calculate the tax which for some there is at least a few tax credits and/or industry-specific deductions that can be applied against the gross revenue. I’m going to recommend you use the services of a tax professional and maybe more specifically a Nevada based tax professional to prepare your commerce tax return because remember this return is based on the gross revenue you generated during the state of Nevada fiscal year end, not your company’s regular fiscal year end. We can, of course, offer some great recommendations for our clients.

One note of caution. If you have or are going to go out of Business in the State of Nevada, I suggest you call us here at Sage International to provide assistance with properly dissolving the company. Think about it, without properly dissolving and filing final tax returns, both the IRS and the State of Nevada have every reason to believe you are still in business and are legally required to file annual tax returns.

Since there’s no getting around the requirement to file, I wanted to make sure everyone who has a Nevada corporation or Nevada LLC understands the full meaning of “staying in compliance.”

Items to consider

Other than what has been explained above, there are some things that you would have to keep in mind so that you file the Nevada Commerce Tax Return in the right way. These are the things that you would need to consider:

  • The fiscal year for the commerce tax is July 1 – June 30, regardless of your own tax year, and reporting can be cumbersome for many entities. Consider how to tailor reporting processes to comply.
  • In the event of an audit, you are responsible for the actual expenses or costs to execute the audit. Entities that keep records outside the state of Nevada are liable for an “amount equal to the allowance provided for state officers and employees while traveling outside of the state for each day or fraction thereof” during an examination.
  • Establish the correct NAISC code on the tax return, as it can be cumbersome to change the code for future filing periods. The commerce tax has 26 business categories.
  • Specific exclusions and deductions are listed, although be careful when determining any deduction to the commerce tax.
  • The commerce tax is set on a separate entity basis, and no guidance is set for consolidation or combination.

Conclusion

The doubling of the annual license fee for corporations is quite hefty, and will probably cause some entrepreneurs to rethink the popular trend of incorporating in Nevada.

If you’re wondering where to incorporate or form an LLC, here’s the advice I have been giving small business owners for years. And this advice hasn’t changed because of the new Nevada commerce tax policy. If you’re a small business (less than five shareholders), it is generally best to form your business in whatever state you live in or operate your business from.

The bottom line is that you are going to be subject to the tax laws and pay corporation maintenance fees for whatever state you conduct your business in. So if your business is located in California and conducts business there, you can’t escape paying state taxes to California just because you incorporate in Wyoming or South Dakota. Contact IncParadise to know more!

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Wisconsin LLC and Corporation Registration and Formation

Date: | Category: | Author: Jakub Vele

Wisconsin LLC and Corporation Registration and Formation

You can form a corporation in Wisconsin or any other business including Domestic and Foreign Limited Liability Companies, Non-profit Corporation, Sole proprietorship, and Partnership. One of the growing sectors in Wisconsin today is the Aerospace industry, which is home to 200 companies. In fact the industry in the state is ranked #1 for fabricated metal product manufacturing and appliance and component manufacturing. The Aerospace industry is ranked #2 for machinery manufacturing and plastic and rubber product manufacturing. The 7th largest in terms of Wisconsin exports, the industry crossed the $500 million mark in 2016. Today, the industry is becoming quite the favorite for start-ups.

How do you form a Wisconsin business? This is where we can provide the necessary assistance as we are one of the top registered agents in Wisconsin.

Wisconsin LLC Registration and Formation

Wisconsin LLC Registartion & Formation

LLC company formation in Wisconsin is governed by 2011 Wisconsin Code, Chapter 183, Limited liability companies. The procedure for registration and formation of LLC is as follows:

Step#1: Maintain a registered agent

If you are planning to form a Limited Liability Company in Wisconsin then you will be required to continuously maintain a registered agent in the state pursuant to 2011 Wisconsin Code § 183.0105. This law is applicable for domestic limited liability company as well as foreign limited liability company.

We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Wisconsin. We can assist you to form a Wisconsin business LLC.

Step#2: LLC Name Reservation

One of the foremost steps towards company formation in Wisconsin is identifying a name for your business entity. The process is as follows:

  1. Identify a unique name for your business entity
  2. According to 2011 Wisconsin Code § 183.0103, the name should contain the phrase or words “limited liability company” or the abbreviations “L.L.C.”, or “LLC”.
  3. The chosen name should be distinguishable and should not be deceptively similar to the name of any corporation, or limited liability company
  4. Conduct a name search here.
  5. Apply for reservation of name pursuant to the provisions of 2011 Wisconsin Code § 183.0104 for a domestic LLC name. A foreign LLC will have to register their business name.
  6. Submit the form though mail or online with the State of Wisconsin, Department of Financial Institutions, Division of Corporate and Consumer Services along with the applicable fee.
  7. An LLC can reserve its name for a period of 120 days.

Step#3: Articles of Organization and Certificate of Registration

If you are planning to form a Wisconsin business LLC then the most important step is to prepare and file the proper documents for a Limited Liability Company. The steps are:

  • If you want to register a domestic LLC then you will be required to file ” Articles of Organization” governed by 2011 Wisconsin Code § 183.0202.
  • If your business entity is a foreign LLC then you will be required to file an Application for “Certificate of Registration” pursuant to 2011 Wisconsin Code § 183.1004.
  • The Articles of Organization and application for Certificate of Registration of domestic and foreign LLC can be filed with the State of Wisconsin, Department of Financial Institutions, Division of Corporate and Consumer Services, in person or online.

We can file the form on your behalf as your registered agent in the state and provide you with certified copies of the LLC registration.

In case, you have any questions regarding how to form a Wisconsin business, feel free to call us on 702-871-8678.

Wisconsin Corporation Registration and Formation

Wisconsin Corporation Registration & Formation

If you are planning to form a Corporation in Wisconsin then the incorporation will be governed by 2011 Wisconsin Code, Chapter 180 – Business corporations. The procedure for registration and formation is as follows:

Step#1: Maintain a Registered Agent

If you are planning to form a business or professional corporation in Wisconsin then you will be required to continuously maintain a registered agent in the state pursuant to 2011 Wisconsin Code § 180.0501. This law is applicable to domestic as well as foreign corporations.

We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Wisconsin. We can assist you to form a Wisconsin business as we are in compliance with all regulations in the State of Wisconsin.

Step#2: Corporate Name Reservation

In order to form a corporation in Wisconsin, one of the key steps is identifying a name for your business entity. What is the process? The process is as follows:

  1. Identify a name for your business entity
  2. According to 2011 Wisconsin Code § 180.0401, a corporate name should contain the phrase or words “corporation”, “company”, “incorporated”, or the abbreviations “Corp.”, or “Inc.”
  3. The chosen name should be distinguishable and should not be deceptively similar to the name of any limited liability company, limited partnership, or any other corporation
  4. Apply for reservation of name pursuant to 2011 Wisconsin Code § 180.0402.
  5. A foreign corporation would be required to register their name pursuant to 2011 Wisconsin Code § 180.0403.
  6. Submit the form though mail or online with the State of Wisconsin, Department of Financial Institutions, Division of Corporate and Consumer Services along with the applicable fee. A business corporation can reserve its name for a period of 120 days.

Step#3: Articles of Incorporation and Certificate of Authority

If you are planning to form a corporation in Wisconsin, then the most important step is to prepare and file the proper documents for a business corporation. The steps are:

  • If you want to register a domestic corporation then you will be required to file “Articles of Incorporation” pursuant to 2011 Wisconsin Code § 180.0202.
  • If your business entity is a foreign corporation then you will be required to file an application for ” Certificate of Authority” to transact business in the state pursuant to 2011 Wisconsin Code § 180.1503.
  • The application or documentation for registration of a corporation can be filed with the State of Wisconsin, Department of Financial Institutions, Division of Corporate and Consumer Services, in person or online.

We can file the form on your behalf as your registered agent in the state and provide you with certified copies of the incorporation.

If you have any questions regarding Wisconsin incorporation or LLC formation, you can simply visit the Wisconsin Business formation page.

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Incorporate in Wisconsin

Date: 04/04/2019 | Category: | Author: Jakub Vele

Incorporate in Wisconsin

What makes “America’s Dairyland” a “good for business” state? To start with, the cost of doing business is low, which means you will be able to save more. There is another important aspect and that is the policies that have been created to drive business growth. These policies include business-friendly tax approaches and the creation of an environment that spurs investment and growth. Incorporation in Wisconsin also means that start-ups and midsized businesses will get a platform that will help them compete nationally as well as globally.

Madison, Milwaukee, Green Bay, La Crosse, Eau Claire and Racine are top start-up ecosystems according to February 2019 – Silicon Prairie Report. Be a part of this ecosystem today!

Why Choose Wisconsin for Incorporation?

Is Wisconsin an innovation state? According to a report by Brookings Institution, 2015, Wisconsin’s commitment towards advancement in STEM programs has been praise worthy and today, Madison is considered amongst the first in metro areas for STEM grads. The state also has the 5th strongest engineering program in the nation and is the 2nd best state for scaling up businesses. Innovation and a strong business platform have been driving factors for company incorporation in Wisconsin.

Now let’s take a look at some of the salient benefits that are responsible for fuelling the growth of small businesses:

Business Development Tax Credit (BTC) program

The Business Development Tax Credit (BTC) program will benefit those who set up companies in Wisconsin as it is a performance-based, refundable income tax credit program. The primary objective of this program is to encourage business development in the state. The BTC Program is a replacement for the Jobs Tax Credit (JTC) Program and the Economic Development Tax Credit (ETC) Program. Your business needs a WEDC certification for eligibility in order to earn tax credits. You can earn the following credits through this program:

  • Job creation tax credits may be equal to almost 10% of the annual wages for employees in full-time jobs.
  • Tax credit of 5% on annual wages for employees especially if your business is situated in an economically distressed zone or area

Information Brochure

Incentives for Manufacturing Businesses

Company incorporation in Wisconsin and especially in the manufacturing industry can open doors to a variety of incentives that your business can benefit from. Some of the popular incentive programs for businesses in the manufacturing industry include:

  • Manufacturing and Agriculture Tax Credit: This program will help in offsetting a considerable share of Wisconsin income tax.
  • Property Tax Exemptions: Your business can leverage tax exemptions applicable on Machinery and equipment used in manufacturing and certain waste treatment facilities owned by manufacturers and commercial businesses.
  • Sales Tax Exemptions: This is applicable for equipment and machinery used by manufacturers in producing tangible personal property and fuel and electricity used in manufacturing.
  • Research and Development (R&D) Credits

More Information

How do you incorporate in Wisconsin?

What is the process of incorporation in Wisconsin? What type of documentation is required? These are some of the common questions that you will be confronted with if you are planning to start a new business in the state. The following steps will enable understanding of the entire process:

Business Type

The first step towards incorporation in Wisconsin is choosing the type of business you want to form. You can choose to form an LLC or a Corporation. The type of business entity you want to form can either be a domestic or a foreign entity. The forms and fee will be different for each type of entity. Know more

Business Entity Name

One of the most important steps towards incorporation in Wisconsin is naming your business entity. You have to start by identifying, searching, reserving, or registering the business entity name. There are 3 steps towards business name formation and they are:

  1. Naming Requirements: A corporation under 2011 Wisconsin Code § 180.0401 and an LLC under 2011 Wisconsin Code § 183.0103 should contain words like “corporation”, “incorporated”, “limited liability company” or abbreviations like “corp.”, “inc.”, “ltd.”, “L.L.C.” or similar abbreviation.
  2. Business name search: If you are planning to set up company in Wisconsin, you will need to search for a business name that is not in use currently. You can conduct name search here.
  3. Name Reservation: Once you have identified business entity name, and if the name is available then you can reserve the name pursuant to 2011 Wisconsin Code § 180.0402 for corporations and 2011 Wisconsin Code § 183.0104 for an LLC. A business name can be reserved for a period of 120 days with the State of Wisconsin, Department of Financial Institutions, Division of Corporate and Consumer Services.
  4. A foreign business entity will have to register their business name pursuant to 2011 Wisconsin Code § 183.0104(3)(a) for an LLC and 2011 Wisconsin Code § 180.0403 for a business corporation

Choose a Registered Agent

Whether you form a corporation or an LLC business entity, in order to transact business in the state of Wisconsin, you will have to maintain a registered agent pursuant to 2011 Wisconsin Code § 183.0105 for an LLC and 2011 Wisconsin Code § 180.0501 for Business Corporations.

We are one of the respected registered agents in Wisconsin and will be responsible towards initiating incorporation in Wisconsin through processing of your “Articles of Organization”, and “Articles of Incorporation” for domestic entities and “Certificate of Registration” and “Certificate of Authority” for foreign business entities.

Articles of Incorporation and Certificate of Authority

You will be required to submit “Articles of Incorporation” pursuant to 2011 Wisconsin Code § 180.0202 if your business is a domestic corporation. You will require a “Certificate of Authority” pursuant to 2011 Wisconsin Code § 180.1503, if it is a foreign business entity. In order to streamline the process of incorporation in Wisconsin, we can file documents on your behalf through the online process or through an expedited process.

Date Stamped Copies

As a part of the process of company incorporation in Wisconsin, we will ensure, you receive date-stamped and filed copies that verifies the state has filed as well as formed your corporation.

Costs and Fees associated with Wisconsin Incorporation

What would it cost to set up company in Wisconsin? Check Fees here!

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Entity Management Software

Date: 03/29/2019 | Category: | Author: Jakub Vele

Entity Management Software

IncParadise is an online system that helps you to create your dream company in any part of the USA. Incorporated in 1999 as a software company, IncParadise was converted into a corporation service company in 2001 under the name EastBiz. Later in 2017, Tomas Milar acquired the company to help it reach an entirely new level. Headed by Tomas Milar, the IncParadise has been successful in assisting many clients to fulfill their dreams of owning a successful company in the USA.

IncParadise Client Zone – Dashboard

Incorporate with IncParadise

IncParadise is a registered agent in all the states in the USA and also offers its services in all the states. Services offered by IncParadise are:

  • Incorporation & Company Registration – Have your company registered in any state in the USA by filing for it online through IncParadise. Simply apply for the EIN as well to have your company up and running in no time.
  • Foreign Qualification – Easily register your company in any state in the US through our platform without the need of physically visiting the place.
  • Post-Incorporation Setup – Set up your business address by opting for our virtual business address, hire us as your company secretary to help you along the way. Also subscribe to our mail forwarding service to have only the important mails sent to you via email or post. In short, sit at your home and run your business efficiently and easily without any hassle.

With IncParadise, you do not need any law degree to open a company and run it smoothly. Our executives, website, and software would help you understand every part of what you need to do and what choices you have to dosomething. All the steps are clearly explained. Plus, you can ask us any questions regarding how you will use our services at all times. Being a client would also allow you download and use automatically tailored documents for your company’s needs.

Stay Updated With the Operations of Your Company

IncParadise doesn’t stop helping even after you have set up your company. With our application system and the help of our professionals, you would be able to stay up to date with your company’s operations. Our platform would offer you the following features:

  • Client Zone – Know what is happening with your company, and renew any services that you still need for all the companies that you have incorporated online, in just one place.
  • Email Reminders – Get all the important alerts and notifications for deadlines, important dates, and required actions on your email for your company.
  • Auditable History – The Client Zone of IncParadise would help you save all important documents for use later on in the business. You would be able to use these to tell the story of your company securely and reliably.

The Client Zone

Once you have opted for our services, you would get a client account from where you can handle everything based on your company and services that we are offering you. You can use the login details to access your account on the Client Zone.

  • Use your password to login the Client Zone and change your password as you desire. As soon as you log in, you would be able to see a dashboard with all the companies that you have set up through IncParadise.
  • You can easily alter any individual contact information for each company on the dashboard.
  • Check the status of your orders easily on the platform, renew any subscriptions, if needed.
  • You can easily create the company documents like the minutes for the director’s meeting and shareholder meeting. You would also be able to access all the copies of important documents on the dashboard like the Articles of Incorporation and so on.
  • Access the mail forwarding service results easily through the dashboard. Set the instructions that you want for the service, see the received mails, scan all or selected mails and send them to your personal inbox.

New Features of the Client Zone

Other than the basic features mentioned above of the IncParadise Client Zone, there have been some updates incorporated to make things easier for our clients. Here is what you can do with the Client Zone now:

  • View & access all the companies that you have set up via IncParadise from your dashboard. This means that you would not have to go through multiple pages to manage the several companies that you have incorporated through IncParadise.
  • Enjoy using the easy-to-use and advanced user interface.
  • Easily place any new orders for services that you need for your company through the dashboard of the Client Zone in IncParadise instead of placing the order through the public form.
  • Comfortably access the Mail Forwarding option box right from the new dashboard without the need of going through multiple web pages.
  • Easily access & view all incoming emails for the mail forwarding service on the dashboard without having to surf through different web pages.
  • Add funds into the mail forwarding account to keep the subscription going easily. IncParadise would also leave a notification on your email as soon as your funds of the mail forwarding fall below the limit so that you can add the funds on time and not miss out on any important post.
  • Stay secure with the advanced privacy and security protection system.
  • Connect with your DropBox and Google Drive easily in the new version of cloud services on the dashboard.
  • Securely & comfortably manage and store all the company documents in a much better way.
  • Open & access the IncParadise Client Zone through any device that is connected to the Internet.
  • Simply select the option to “set up a new company” from the dashboard, if you want to open another company in any of the 50 states in the USA with the help of IncParadise.
  • Service Expiry Notifications: Get updates regarding any dues regarding your service subscriptions of mail forwarding, virtual office, renewal of company certificates, annual list and so on through pop-ups. You would also get updates for any tax or legal document deadlines so that you stay prepared ahead of time.

Simply log in to your account on IncParadise via https://client.incparadise.net to access the dashboard and its features.

Issue Stock & Manage Your Company Ownership

Eqvista – It is a sister company of IncParadise and owned by Tomas Milar, Eqvista is a FREE cap table web application that assists founders to easily issue and manage all the company shares online. IncParadise allows you to access this application right from the dashboard as soon as you incorporate your company through IncParadise.

With Eqvista, you would be able to issue company security (Convertible Notes, Options, Warrants, Stocks, SAFEs & KISS) to investors, employees, shareholders, founders and manage all the legal documents easily. You would also be able to keep tabs on what happens to the shares and your ownership through the application.

Here are some of the main things you would be able to do with Eqvista:

  • Cap Table – Note & keep track of who owns what part of your company all in one place with the FREE cap table application.
  • Board Actions – Approve all the stock grants through the application directly. Have your board approve and modify things easily through the application instead of relying on heavy paperwork and long meetings.
  • Electronic Stock Issuance – Easily issue stocks online with customizable IRS form 83(b) elections and vesting schedules built-in.
  • Get Tax Help – Save a lot of money by paying your taxes and complying with the laws related to the shares of your company. Make your life easier with this FREE cap table application.

We are here to help!

If you are new to IncParadise and want to enjoy the perks of owning a company in the USA with the help of IncParadise, you can connect with us. If your require further assistance, our friendly and knowledgeable team members are here to help you make the right choices, stay on the right track and get the best out of our services.You can also get both moral and technical support at any time from us.

Contact us today with any queries you have in your mind. We guarantee you peace of mind and business success. Talk to us now!

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Wyoming Business License

Date: 03/27/2019 | Category: | Author: Jakub Vele

Wyoming Business License

Now that you have made the decision to form an LLC or incorporate a new business in Wyoming, one of the things that you would require to work in this state is a business license. How do you get a license in the state of Wyoming? The procedure for getting a business license can take a lot of time but it is simple enough. All you need to know about business license in Wyoming is what this page is all about. Once, you have the required license, we at incparadise.net will help you through the process of company incorporation or LLC formation. We have helped several businesses in registering in the state of Wyoming and have a build goodwill and reputation with state authorities over a period of time.

Wyoming Business License is a must

Wyoming is one of the most favorable states for forming LLC’s and registering corporations and this only because it has really flexible tax policies. Wyoming is a state that not only provides a favorable business climate but also provides several benefits to businesses. Some of the benefits that businesses can derive include:

  • No personal income tax
  • No corporate income tax
  • No Estate or Inheritance Taxes
  • No Out-of-State Retirement Taxes
  • It is not mandatory for directors, shareholders, and officers of an LLC in Wyoming to be Wyoming residents.
  • In Wyoming, incorporation can take place without the need for any minimum initial capital
  • No occupation, franchise, or value-added tax
  • There are no burdensome regulations
  • Sales and property tax are amongst the lowest in the USA

You will be able to derive the above benefits only when you move forward with your plan to start a business in the state and the first step towards starting your business is getting a Wyoming company license. The license is issued by Secretary of State’s office.

One of the important things to remember while applying for a license is that the state of Wyoming has additional specialized permits or licensing that pertains to specific business activities. Whether you reside in Wyoming or any other state, the moment you choose to start your business, you will require this license without which you will not be able to incorporate or form your LLC. It is important to get a complete understanding of the regulations of business license in Wyoming as it will help you to ensure compliance with all licensing requirements.

If you require in-depth information regarding incorporation of business or formation of LLC in the state of Wyoming, you can speak with one of our business experts or check the incorporation page.

Determine Type of Business

The first step towards getting a Wyoming company license is to identify the type of business you want to set up in the state. It is also important to identify the industry and specific product or service your company will offer. You can choose the type of business entity as an LLC, General Partnership, Corporation, or Sole Proprietorship. In the state of Wyoming, the most beneficial entities to form are typically LLCs or corporations although you are free to set-up any type of business entity.

Note: The fee for corporation and LLC is the same while that of general or sole proprietorship is different.

Once you have identified the type of business, we at incparadise.net will help you obtain the right license or permit for your business to become operational in the state.

Getting a business license in Wyoming

How do you obtain Wyoming company license? Is it a simple process or is it complicated?

A State Business License is a mandatory requirement for starting small and medium enterprises or corporation in Wyoming and this license has to be renewed each year. Some of the most commonly issued business license in Wyoming includes:

  • General contractor’s license
  • Sales/use tax license
  • Liquor license
  • Food service license
  • Retail license
  • Bulk deal license
  • Wholesale license
  • Vehicle disposal license
  • Motor vehicle dealer license
  • Commercial vehicle license
  • Cigarette wholesaler license
  • Special fuel license
  • Department of Agriculture or a local Health Department license

Similarly, business permits are required for different industries in Wyoming and you can obtain your license or permit by contacting both municipal and county authorities in the area or region in which you intend to establish your business. You can also write to or speak with a Business Permit Program representative. You will need to obtain business permits for the following industries:

  • Environmental Protection
  • Agriculture
  • Wildlife
  • Consumer Credit
  • Insurance
  • Construction Contractors
  • Fire Prevention
  • Non-Wyoming Businesses
  • Large-Scale Projects
  • Foreign Corporations
  • Transportation
  • Public Land
  • Retail and Wholesale sales as well as service establishments

Note: It is important to note that the state of Wyoming does not issue any statewide general business license. The permits and licenses issued are dictated primarily by profession, industry or location of the business or LLC.

City Business License

There are 23 counties in the state of Wyoming and 99 municipalities that consist of cities as well as towns. Each city has their format for business license in Wyoming. Hence, it is extremely important to determine the city/county that your corporation, SMEs, or LLC will operate from.

Let’s take a look at an example: If you are planning to form an LLC or set up your business from Sheridan, Wyoming then you will require business licenses only for specific businesses, which are “Tree Trimmers”, “Secondhand Dealers”, and “Pawnbrokers”. These licenses are currently being enforced by the City and have to be obtained from the Clerk’s office.

Similarly, the business license fee schedule is different for each city and the type of business like if you were to start a business in Green River, Wyoming, then the fee for banks, tanneries, and book binding establishments is $100 while that of pawn stores is $200.

Obtaining a business license in Wyoming City can be quite a confusing, time consuming, and demanding exercise but we can make the entire process simplified. Call us today to know more about how to obtain a Wyoming business license as failure to obtain the right type of business license and permits can result in fines and even lead to premature closure of your LLC or Corporation.

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West Virginia Business License

Date: | Category: | Author: Jakub Vele

West Virginia Business License

What do you require to establish your business in West Virginia? You need to register your business, business name, tax details etc., and you need to apply for a business license in West Virginia to make it operational in the state. However, it is important to know that you may require more than one license or permit or your business might not require a license at all.

Business licenses in the state can be broadly defined under 2 categories according to the state government:

  • Regulatory licenses and permits
  • Professional and occupational licenses and permits

Your business would fall under the “Regulatory licenses and permits” category if your business license is issued by different state agencies although the three most common types of regulatory licenses and permits fall under the following categories:

  • Health and safety
  • Environment
  • Agriculture

A West Virginia company license in any of the above categories will be issued by the respective state agency like the Department of Agriculture (DOA), the Department of Health and Human Services (DHHS), or the Department of Environment Protection (DEP).

How do you apply for a license or permit? The only way you will be able to understand the process is through the “step-by-step” guide that we have created.

Step-by-Step Guide to West Virginia Business License Process

Step#1: The Industry or Business Type

How would you know what type of business or professional license is required to operate in West Virginia? The type of industry or the activities of a business entity helps in identifying the type of business license required. Different types of licenses and permits are issued by different state agencies or counties.

Let’s look at an example to understand this well.

General Construction or Contracting Business

  • Licenses issued by: West Virginia Contractor Licensing Board
    If your business activity is in construction including and it includes Remodeling & Repair then you will be required to apply for a business license for the same. Along with the license application, you will need to submit a “West Virginia Division of Labor Wage Bond Status Affidavit”
  • License Fee: $90
    Information and Application

Food Service Establishment and Food Manufacturer

  • Licenses issued by: West Virginia Department of Health and Human Resources, Public Health Sanitation Division
    If you are planning to start a Food Service, Retail Food Establishment, or are planning to be a Food Manufacturer then you will need to apply for a business license in West Virginia.
  • Fee – Food Manufacturers: The license fee varies according to the “gross sales” of the manufacturing facility like the fee for a facility having gross sales of $0.00 to $7,499, will be $35. Similarly, a facility with gross sales of $1,000,000 to $4,999,999 will have a fee of $600. Download Application
  • Fee – Food Service and Retail Food Establishments: The fee for a permit will be dependent on the type of service or establishment like Mobile Establishment, Restaurant, Retail Food Store, Retail Food Store Specialty Department, and Bar or Tavern among others. Download Application

Step#2: Licenses issued by City/County

If your business or industry type doesn’t fall under a state-wide license then you will have to check with the local city or county office. A West Virginia company license can also be issued by local counties or cities in which the business is located. Let’s look at an example to understand how this works.

Fayette County

You will need to obtain a permit from the Fayette County Health Department to operate a food establishment.

The Requirements are as follows:

  • Submit a Plan Review Report (Form SF-35)
  • Submit an Application for a West Virginia company license or permit to operate a Food Establishment (Form SF-05)
  • Completed forms have to be submitted with the fee at least 30 days prior to your planned opening date for the Food Establishment
  • The Fee for food establishment permits will vary according to the seating capacity and the number of retail food stores.
  • You will have to contact Fayette County Health Department office to identify the fee amount.

Step#3: Issuance of a Business License

How is a business license in West Virginia issued? You have to identify the following to complete the process:

  1. The type of business or industry
  2. Do you need a license or a permit?
  3. Will it be issued by the state or the county?

Once you have identified the above, all you need to do is either download the application online or contact the concerned state department or city or clerk office.

It is important to note that a business license or permit will have to be renewed annually unless specific dates have been mentioned, to keep the business operational.

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