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Advantages of Incorporating a Business in West Virginia

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

Advantages of Incorporating a Business in West Virginia

Will a start-up company in West Virginia achieve sustainable growth? What are the possible benefits of conducting business in this state? Economically, West Virginia has been quite strong and the Real Gross Domestic Product (GDP) in 2017 was $67.83 billion, which is quite a rise from the $62.16 billion in 2007. According to West Virginia Economic Outlook 2018-2022 Report published by Bureau of Business & Economic Research, the energy sector is considered an important driver of economic activity in the state. One of the key industries in the energy sector according to the report includes the natural gas industry, which peaked in terms of production growth by the end of 2014. One of the areas that the state economy excelled in is export where approximately $3.7 billion was generated through trading during the first two quarters of 2017.

Setting up an LLC or Corporation – Advantages

You can choose to register a new company in West Virginia as a Domestic Corporation, Foreign Corporation, Limited Liability Company (LLC’s), Non-Profit Corporations, and Limited Liability Partnership (LLP’s). Each type of business entity has its own set of advantages. Let’s look at the advantage of forming the most common forms of business entities.

Advantage#1: Salient benefits of Corporation or LLC formation

Corporation

  • West Virginia Tax Credits: If you register a new business in West Virginia as a corporation, you can take advantage of the following tax credits:
    – Corporate Headquarters Relocation Credit: If you are planning to relocate your business or corporate headquarters to West Virginia and also create a minimum of 15 new jobs then you will be entitled to this tax credit. This is a non-transferable and non-refundable credit that can be used for offsetting up to 100 percent of occupation and business tax as well as corporate net income tax liability. You can benefit from this credit for a period of 13 years. Download Information and Application
    – Economic Opportunity Tax Credit: If you register a new company in West Virginia then you can avail of this tax credit. You will have help in creating a minimum of 20 new jobs and also make a qualified investment in a business facility. This will ensure an offset of up to 80% of the corporate net income tax that can be attributed to a qualified investment. Sample Application
    – High-Tech Manufacturing Credit: As a part of this tax credit, you will have to create a minimum of 20 new jobs and your business should be involved in manufacturing certain peripheral and computer equipment, semi-conductors, and electronic components. The benefit is that you will receive a tax credit that will offset 100% of the occupation and business tax as well as corporate net income tax for a period of 20 consecutive years.
  • Change in Ownership: If you have formed an S Corporation in West Virginia then sale, purchase, as well as gifting of stock can facilitate changes in ownership. The changes can take place without disturbing the ability of the corporation to conduct its business.

LLC

Business Incentive Programs: If you register a new company in West Virginia as an LLC then there are a variety of business incentive programs that you can benefit from. These include, popular programs like:

  • Energy Incentives: The state offers businesses a variety of energy incentives including Residential solar energy tax credit, Tax exemption and special property tax assessment for commercial wind energy and Sales tax exemption for ENERGY STAR products
  • Community Development Incentive Programs: If you register a new business in West Virginia, you can take advantage of several programs being administered by The Department of Commerce and that includes grants like:
    – Small Cities Block Grant (SCBG)
    – Land and Water Conservation Fund (LWCF)
    – Neighborhood Stabilization Program (NSP)
  • Sales & Use Tax Exemption: Your business can benefit from sales & use tax exemption in the state if it is offering the following sales and services:
    – Sales of radio or television broadcasting time
    – Magazine and newspaper advertising space for advertisement of goods and services
    – Construction, repair, alteration, decoration or improvement of real property
    – Sales of day care center services
    – Mobility enhancing equipment and prosthetic devices
    More Information
  • Flexible Profit Distribution: A start-up company in Vermont which is an LLC has the benefit of being able to select different ways of distribution of profits unlike a partnership where the distribution is 50-50.

Advantage#2: Other Business Incentive Programs

West Virginia offers small businesses and medium or large enterprises a strong infrastructure that enhances business operations anywhere in the state. It is the wide variety of incentive programs that provides a start-up company in West Virginia a platform that helps businesses to achieve higher growth. Some of the popular program categories are:

  • Incentive Programs in the Opportunity Zone: The Opportunity Zones (OZ) Program is just perfect for a start-up company in West Virginia or a business that is relocating to this state. In order to benefit from this program, you will have to establish your business in an Opportunity Zone in the state. This program has been implemented by the U.S. Department of the Treasury and the Internal Revenue Service (IRS). One of the benefits for businesses in this zone is the preferential tax treatment that they will receive and this will encourage growth and revitalize areas that are facing economic challenges. List of designated OZ
  • Central Appalachia Empowerment Zone (CAEZ): If you register a new company in West Virginia then you can benefit from the “Empowerment Zone/Enterprise Community (EZ/EC) Initiative”, which is integral to CAEZ. You can benefit from several funding and tax incentives like the Small Business Micro Loan Program. Map of CAEZ Service Area

Are there any Disadvantages of Incorporating in West Virginia?

If you are wondering if there are any disadvantages if you register a new company in West Virginia then it is important to know that every state has its own advantages and disadvantages. Similarly, every business also has its own advantages and disadvantages or pros and cons. The disadvantages in the state of West Virginia are specific to the type of business entity you form. For example, a limited liability company has a “Limited Life” while the process of incorporation takes more time than other forms of organization.

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West Virginia LLC and Corporation Registration and Formation

Date: | Category: | Author: Jakub Vele

West Virginia LLC and Corporation Registration and Formation

Why form a West Virginia business? West Virginia is not only a thriving economy but it’s also home to more than 130 businesses represented in over 27 countries globally. This is where global leaders feel at home in the West and if you want to reach out to a global as well as national audience or customers then this is the place to be. The state has a strong distribution system that your business can leverage like river ports, major interstates, and a complete railroad system. Today, there are in excess of 30,000 West Virginians employed in international companies and local start-ups that have made their impact globally.

The big question is how do you go about company formation in West Virginia? This is where we can be of assistance!

We are one of the top West Virginia registered agents and are familiar with all incorporation processes pertaining to the West Virginia State. Thus, we can provide information and assistance for successful setting up of your business!

West Virginia LLC Registration and Formation

West Virginia LLC Registration & Formation

LLC company formation in West Virginia is governed by 2010 West Virginia Code, CHAPTER 31B – Uniform Limited Liability Company Act. The procedure for registration and formation of an LLC is as follows:

Step#1: Maintain a registered agent

If you are planning to form a Limited Liability Company in West Virginia then you will be required to designate and continuously maintain a registered agent in the state pursuant to 2010 WVC §31B-1-108. This law is applicable to domestic limited liability companies as well as foreign limited liability companies.

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 West Virginia. We can assist you to form a West Virginia business LLC.

Step#2: LLC Name Reservation

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

  1. Identify an unique name for your business entity
  2. According to 2010 WVC §31B-1-105, the name should contain the phrase or words “limited liability company” or “limited 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 limited partnership, corporation, or limited liability company
  4. Apply for reservation of name pursuant to provisions of 2010 WVC §31B-1-106.
  5. Submit the name reservation form at the Office of the Secretary of State- Business and Licensing Division through online or mail along with the applicable fee. You can reserve a name for a non-renewable 120 day period.
  6. If your business is a foreign LLC then you will be required to register the name pursuant to 2010 WVC §31B-1-107 for an LLC.

Step#3: Articles of Organization and Certificate of Authority

If you are planning to form a West Virginia 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 have to file “Articles of Organization” governed by 2010 WVC §31B-2-203.
  • If your business entity is a foreign LLC then you will be required to file an application for “Certificate of Authority” pursuant to 2010 WVC §31B-10-1002.
  • The application or documentation for registration of LLC can be filed with the office of the West Virginia Secretary of State Business & Licensing Division, through mail 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 West Virginia business, feel free to call us on 702-871-8678.

West Virginia Corporation Registration and Formation

West Virginia Corporation Registration & Formation

If you are planning to form a Corporation in West Virginia then its formation will be governed by 2005 West Virginia Code – CHAPTER 31D. — West Virginia Business Corporation Act. 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 West Virginia then you will be required to continuously maintain a registered agent in the state pursuant to 2005 WVC §31D-5-501. 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 West Virginia. We can assist you to form a West Virginia business as we are in compliance with all regulations in the State of West Virginia.

Step#2: Corporate Name Reservation

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

  1. Identify a name for your business entity
  2. Conduct a business name search
  3. According to 2005 WVC §31D-4-401, a corporate name should contain the phrase or words “corporation”, “company”, “incorporated”, or the abbreviations “Corp.”, or “Inc.”
  4. The chosen name should be distinguishable and should not be deceptively similar to the name of any limited liability company, limited partnership, or corporation
  5. Apply for reservation of name pursuant to provisions of 2005 WVC §31D-4-403.
  6. Submit the name reservation form at the Office of the Secretary of State- Business and Licensing Division through online or mail along with the applicable fee. A business corporation can reserve its name for a period of 120 days.
  7. If your business is a foreign corporation then you will have to register the name pursuant to 2005 WVC §31D-4-404.

Step#3: Articles of Incorporation and Certificate of Authority

If you are planning to form a corporation in West Virginia, 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 have to file “Articles of Incorporation” pursuant to 2005 WVC §31D-2-202.
  • If your business entity is a foreign corporation then you will be required to file an application for “Certificate of Authority” pursuant to the provisions of 2005 WVC §31D-15-1503.
  • The application or documentation for registration of a corporation can be filed with the office of the West Virginia Secretary of State Business & Licensing Division, through mail 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 West Virginia incorporation or LLC formation, you can simply visit the West Virginia Business Formation page.

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Incorporate in West Virginia

Date: | Category: | Author: Jakub Vele

Incorporate in West Virginia

A study by “GOBankingRates” revealed that West Virginia is one of the few states that enjoyed a high increase in their economic growth rate at 6.84 percent in 2017. In fact, in the first quarter of 2017, the “Mountain State” had the 2nd highest gross domestic product growth in the country. Those who set up companies in West Virginia in 2017 benefited from the economic growth and a variety of benefits that the state offers. Some of the key industries responsible for fuelling this economic growth include the aerospace industry, manufacturing industry, Chemical and polymer industry, building products industry, and Technology & Information Services among others.

Why Choose West Virginia for Incorporation?

The “Mountain State” as West Virginia is often known, has one of the most business-friendly climates and this is one of the reasons why company incorporation in West Virginia has crossed the 100,000 mark. The largest industry in the state in 2017 was government and government enterprises and it accounted for 16.3% of the state GDP followed by insurance, finance, rental, and leasing, and real estate.

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

  • Business Investment and Jobs Expansion Credit: If you set up company in West Virginia you will be able to avail of the “Business Investment and Jobs Expansion Credit”, which was enacted by the State Legislature in 1985. The primary objective of this incentive program is to promote net employment growth (new jobs) within the state. As part of the program, the state will provide tax credits to eligible businesses so that they can offset the additional taxes directly attributable to the new jobs as well as qualified investment. More Information
  • Economic Opportunity Tax Credit: The primary objective of the Economic Opportunity Tax Credit is to help in promoting net employment growth within the state of West Virginia. In order to qualify for this tax credit program, incorporation in West Virginia is necessary. New and expanding businesses can avail of this benefit. As a part of the program, the State will provide a tax credit to offset any additional taxes directly attributable to the qualified capital investment leading to net employment growth. Download Application

How do you incorporate in West Virginia?

What is the process of company incorporation in West Virginia? Do you require any specific documents? How can you submit or file these documents? These are some of the questions that you will be confronted with and hence the following steps will provide you with information on how incorporation works in West Virginia:

Type of Business

The first step towards incorporation in West Virginia 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 be domestic or foreign entity. The forms and fee will be different for each type of entity.

Business Entity Name

What is the next step towards incorporation in West Virginia? The next step is to identify and reserve a name and this can be done as follows:

  1. Naming Requirements: The naming requirements in the state of West Virginia are governed by 2010 WVC §31B-1-105 for an LLC and 2005 WVC §31D-4-401 for a Corporation. The name of each limited liability company must contain words like “Limited Liability Company” or abbreviations like “L.L.C.” or “LLC”. A corporate name must contain words like “corporation”, or “incorporated” or abbreviations like “corp.” or “inc.
  2. Business name search: You 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 with the office of the Secretary of State – Business and Licensing Division. You can reserve a name for a period of 120 days according to the provisions given in 2005 WVC §31D-4-403 for corporations and 2010 WVC §31B-1-106 for an LLC.
  4. Name Registration: If you are a foreign entity planning to set up a company in West Virginia then you will be required to register the business name with the Secretary of State pursuant to 2005 WVC §31D-4-404 for a corporation and 2010 WVC §31B-1-107 for an LLC.

Choose a Registered Agent

Each Business or Professional Corporation and Limited Liability Company in the state of West Virginia is required to maintain a registered agent pursuant to 2005 WVC §31D-5-501 for Corporations and 2010 WVC §31B-1-108 for a Limited Liability Company.

We are one of the respected registered agents in West Virginia and will be responsible towards initiating company incorporation in West Virginia through processing of all your documents including “Articles of Organization” and “Articles of Incorporation” for domestic business entities and “Certificate of Authority” for foreign entities.

Articles of Incorporation and Certificate of Authority

If you are planning to form a domestic corporation (For profit), then you will have to file “Articles of Incorporation” pursuant to 2005 WVC §31D-2-202. If you are planning foreign business incorporation in West Virginia then you will be required to file a “Certificate of Authority” pursuant to 2005 WVC §31D-15-1503. In order to streamline the process 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 West Virginia, 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 West Virginia Incorporation

What would it cost to set up a company in West Virginia? Check Fees here!

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Join Our Team

Date: | Category: | Author: Jakub Vele

IncParadise – Join Our Team


In the last two decades, IncParadise (EastBiz, Inc) has been making it easy and affordable for anyone to set up their business in the USA. Our journey began in April 1999, founded by John Vanhara a d started as a software company. Later in 2001 it was transformed into a corporation services. The company has grown at a fast pace within a few years and expanded services in all 50 states of the USA. We currently have offices in Nevada and Wyoming.

In 2017, IncParadise was acquired by Startupr – an incorporation service provider which is lead by Tomas Milar, a seasoned expert in company formation, corporate governance and administration. Startupr has since grown to become one of the top company formation agents having clients all over Asia and Europe since 2011.

Dashboard-eqvista

Currently, IncParadise is one of the leading incorporation service providers in the USA, with a reputation for excellent customer service and the industry’s best back-office system for registering a business online and monitoring all their yearly requirements online. We also introduced a sophisticated equity management software Eqvista to our clients to manage and track their company shares.

Our Mission

Every year, we help thousands of business owners to launch their company in their preferred state in the USA by eliminating all barriers and making them easy and affordable for them to start their dream businesses. With this in mind, we are always trying to develop and innovate new solutions/products to deliver the best services to our clients.

Our Timeline

  • 1999 – EastBiz, Inc was born and started as a software company.
  • 2001 – EastBiz, Inc was transformed into a corporation service company.
  • 2006 – We expanded our services to cover all the states in the USA.
  • 2009 – We started providing additional services such as Mail Forwarding with mail scanning services in Nevada and Wyoming.
  • 2011 – After a decade of growth we’ve developed and innovated with new technologies to provide better services to our clients.
  • 2017 – IncParadise was acquired by Startupr – an incorporation service provider lead by Tomas Milar.
  • 2018 – We started focussing on giving additional services like share and cap table management by introducing a new technology product called Eqvista.
  • 2019 – We are focused on introducing new functionalities and providing more services through our back office system (Inccontact) to our clients.

What makes us unique?

  • Simple & Affordable – We help you in starting a business in the USA through a simple and straightforward process. We provide affordable packages for all our services which makes us unique from our competitors.
  • Everything Online – By using our online system you can easily apply for your company registration within minutes and we will follow up with all your registration process. You can also order any additional services like mail forwarding, business address etc using our system.
  • Professional team and support – We 100% care about our customers and our dedicated experts and customer support team are always ready to help you.
  • We are reputable – More than thousands of customers have relied on us every year to help with their company formations and related services. Our growing client portfolio shows their support and trust in our services.
  • 100% Efficient and Secured Backend System – Our team of developers are continuously researching and innovating to make our online backend platform a well equipped technology platform to meet any future requirements. We always give priority to users data and our system is 100% secured.

Our Team

Our people are our strength! Our team is diverse and includes leading experts in company formation and related services. Our growth would have been impossible without our team’s support and hard work. In fact, many of them have more than 20 years of experience in incorporation services.

Along with our back office support team, we’ve got an expert IT and Marketing team with niche skills. Our IT team is made up of fully dedicated certified professionals who are all helping to create new technologies and functionalities on our platforms to provide the best and secured services to our clients. Our Marketing team is playing the main role in all our creative endeavors. They are also focused on bringing many strategic partnerships to help our clients run their businesses better.

Hence without any doubt, we can say all our friendly team and industry specialists are the driving force of our success.

  • “I like working with the team at Eastbiz because they are all very knowledgeable and very easy to communicate and work with. Working with Incparadise is different because everyone is very team oriented and easy to work with.” – Nicholas Nash
  • “I love working with IncParadise. I have been with the company for 11 years. It is such a great atmosphere of people with a great and strong workforce. Everyone works great together and strive to provide great customer service. The difference between IncParadise and other companies is that we are a small office and everyone is knowledgeable in all aspects so we are able to help each other get any task completed. Our IT Dept is exceptional. If any issues arise, they are handled immediately.” – Claire Reid
  • “I have been working for IncParadise for 3 years, during this time I have been part of many changes in the company and I like the pace of development. I have been involved in Improving customer care, new technologies focusing on user experience. I believe it makes the company grow steadily and helps our customers to easily set up their companies so they can focus on their business. I like to do this work since it is really meaningful. “- Martin Bargl

Our Clients

Over the last two decades, we’ve been working with both larger corporations and small-medium stage business formation and helping in every phase of their business growth. We always love to take feedback and reviews from our clients and this helps us to improve our services. Below are a few Google reviews from some of our happy clients and companies having businesses in a diverse range of sectors.

  • “I “discovered” Incparadise about 10 years ago and have had a mail forwarding account ever since. This service is so very useful because I am able to receive my mail anywhere I’m at with just an email to Incparadise. Their service has been very dependable and consistent and they’re constantly improving.” – Michael Callison
  • “Good business services, and affordable mail forwarding. We’ve used them approximately 3 years so far and been very happy. Great mail scanning services for snowbirds and RVers.” – Defiant Press
  • “Trina and Nicholas have been wonderful to work with. They are expedient and professional at all times. I have utilized them on my six most recent corporations and have moved services on existing corporations from NCH and 800 corporations, saving me hundreds of dollars. I highly recommend them.” – Tim Dunkin

Interested in joining our team?

IncParadise is happy to welcome new talents. Our employees take their pride in the success of our company and we always look to hire dedicated and talented professionals for our core areas.

Come work with us!

As an employee of IncParadise, you will get the opportunity to work with a diverse, talented and highly motivated team of people. We believe that our people are our strength and we always encourage a healthy work-life balance for our employees. Also, we are committed to providing them with extensive benefits based on their skill and experience. If you are interested in joining us, check out our career page and find out the current job openings.

We are happy to hear from you and for more information contact our talent acquisition department via info@incparadise.com

Washington Business License

Date: 03/25/2019 | Category: | Author: Jakub Vele

Washington Business License

Once you have formed a business in Washington, you need to find out if your business requires a license to operate in the state. Business license in Washington is categorized under the following:

  • A General License: It is important to know that most Washington businesses are licensed through either a state agency or a local agency like the city clerk or counties. The application for business licensing is reviewed by the Department of Revenue’s Business Licensing Office.
  • Specific Licensing for Regulated Industries and Professions: Different types of businesses or business activities have different licensing needs. Apart from a general business license, you may also be required to obtain additional licenses also defined as specialty licenses and permits.

You can apply for licenses or renew them online, through mail or in-person.

How to Get a Business License in Washington

Where and how do you apply for a business license in Washington? Does your business fall under the “specialized licenses” or “general license” category? Does your business entity require multiple permits or licenses? Who is the issuing authority for these licenses or permits? The only way to answer these questions is through an understanding of the process of business licensing.

Here is a step-by-step approach towards acquiring a business license in the state of Washington:

Step#1: The Industry or Business Type

How would you know what type of business or professional license is required to operate in Washington? The type of industry or the activities of a business entity helps in identifying the type of business license required. It is also important to note that some businesses will require only a permit and not a license.

Let’s take a look at some examples to understand this better:

Industry or Type of Business – Vehicle manufacturer, Vehicle transport and disposal, Architect Firm, Cigarette retailer, Collection agency—in state, Collection agency—out of state, Liquor endorsements, Seed dealer, Seller of travel

  • A Washington Company License is required for all these businesses except that these require specialty licenses.
  • The license is being issued by the State of Washington – Business Licensing Service.
  • Fee: The fee varies with the type of business like the fee for an Architect Firm is $278 plus Architect Surcharge of $6.50 plus $19 non-refundable business license fee.
  • Filing: You can file business license application ONLINE or submit the Application through mail or in-person. Architect Firm Application

Industry or Type of Business – Transient Accommodations (Hotels and Motels)

  • A Washington company license is required for Transient accommodations pursuant to RCW 70.62 and that includes:
    – Hotels
    – Motels
    – Resorts
    – Bed and breakfasts
    – Inns
    – Hostels
    – Apartments
    – Condominiums
    – Crisis shelters
    – Retreats
    – Rustic resorts
  • License issued by: Washington State Department of Health
  • Fee: The business license fee varies according to the number of “Lodging Units” e.g: the license fee for an establishment with 3 – 10 lodging units will have a fee of $198 while the fee for 50 or more lodging units is $795.Transient Accommodations License Application

Industry or Type of Business – Liquor License

  • A Liquor License in the state of Washington can be categorized under:
    – Retail Licenses: Licenses issued for Grocery stores, restaurants, clubs, taverns, etc.
    – Non-Retail Licenses: Washington company license issued for Breweries, wineries, distilleries, distributors, importers etc.
    Note: A liquor license in Washington is basically an endorsement on your business license that has been issued by the Washington State Department of Revenue (DOR) Business Licensing Service.
  • Fee: The licensing fee will vary according to the type of retail or non-retail business. Let’s look at some examples. The fee for the following is:
    – Combination Spirits / Beer / Wine Off-Premises Retail License – Specialty Shop – $316
    – A Grocery Store selling beer or wine – $150
    – Hotels with at least 20 rooms and serving spirits, beer and wine – $2,000
    – Private Club – Spirits, Beer and Wine – $720
    – Spirits Distributor (Non-retail) – $1,320
    – Beer Distributor – $660
    – Domestic Winery – Production of less than 250,000 liters per year – $100
  • Filing: You can submit liquor business license ONLINE or submit the Application through mail or in-person. License Application

Step#2: Licenses issued by City/County

It is important to know that a business license in Washington is not always issued by the state agencies; sometimes they are issued by the city or county. At the same time, it is not necessary that your business may require a license at all or may simply require a permit. Let’s look at an example to understand this:

Spokane County

If you start a food establishment that is temporary in nature then you will be required to apply for a “Temporary Food Establishment Permit” in Spokane, WA. It will be issued by Spokane Regional Health District (SRHD).

Fee: The business license fee depends on the level of Temporary Food Service Establishment (TFE). The fee for level 1 – 1 day is $100 while that of 5 to 21 Days is $140. Similarly, the fee for TFE Level 3 / 5 to 21 Days is $420.

Sample Application

In Spokane, permits are also required by Caterers, Mobile Food Service Units, Waste Recycling Plants, and Water Recreation Facilities among others.

Step#3: Issuance of a Business License

A business license in Washington will be issued by different state agencies and all you have to do is complete the following process:

  1. Identify the type of business or industry
  2. Identify whether you need a license or a permit or both
  3. Identify whether it will be issued by the state or the city or 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 of 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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Advantages of Incorporating a Business in Washington

Date: | Category: | Author: Jakub Vele

Advantages of Incorporating a Business in Washington

The Evergreen State has a tradition of fostering as well as helping build some of the largest organizations in the world, including Boeing, Amazon, Microsoft, Costco, and Starbucks. Today, there are approximately 250,000 companies headquartered in Washington or have based their operations here. Although, the state may be famous for its apples, airplanes, and wine, there are several other industries growing and expanding in the state right from mining to manufacturing, maritime trade, and life sciences. The real gross domestic product (GDP) of the state was $439.41 billion in 2017, which is good growth jump from $355.2 billion in 2010. Some of the most recognized brands, Start-up Companies in Washington, and innovative companies choose the evergreen state as their base of operations today.

Drivers of Business Growth for Start-ups

What makes Washington a great state for start-ups? The most important reason is that the state has a positive business climate that is driven by steady stream of highly qualified workforce. The culture of innovation and creativity, robust supply chain, being equidistant from Europe and Asia makes it a Centralized Export Hub, and then there is low-cost energy and a stable-scalable grid. Apart from this, if you register a new company in Washington, you can take advantage of a variety of business incentives offered by state and local agencies. Let’s take a look at some of the advantages of these two business entities:

Advantage#1: The benefits of Incorporation or LLC formation

C or S Corporation

  • Miscellaneous Incentive Programs: If you register a new company in Washington then you will be able to benefit from the variety of incentive programs and these include:
    – B&O Tax/Public utility tax credit for electricity, natural gas, or manufactured gas sold to silicon smelters: The credit is for businesses that sell natural gas, electricity, or manufactured gas to silicon smelters in the state.
    – Washington filmworks contributors B&O tax credit: It was earlier known as the motion picture competitiveness program and you can claim credit on contributions made to Washington Filmworks.
    – International services – B&O tax credit for new employment: A start-up company in Washington can claim credits worth $3,000 per year for each qualified employment position created in international services like data processing, computers, legal, information, accounting and tax preparation, business management, and advertising among others. More Information
    – Sales/Use tax exemption on rental of production equipment and purchase of production services for motion picture and video production
  • Independent life: When you register a new business in Washington as an S Corporation, it will enjoy an independent life. This means that the incapacitation or death of a stockholder will not have a negative impact on the business operations.

Limited Liability Company

  • Sales and Use Tax Exemption: If you register a new business in Washington then it can be eligible for several types of sales and use tax exemption including:
    – Sales & use tax exemption for aerospace businesses focusing on computer software/hardware/peripherals: The exemption is available to certificated FAR repair stations, manufacturers of component parts of commercial airplanes, and aerospace tooling manufacturers among others. More information on Aerospace Manufacturers Tax Incentives.
    – Retail sales and use tax exemption for the construction of new facilities used for manufacturing commercial airplanes, fuselages or wings of commercial airplanes
    – Brokered natural gas use tax exemption: This exemption is applicable for those start-up companies in Washington who manufacture aluminium in the state.
    – Property/Leasehold tax exemption for manufacturers of biodiesel/alcohol fuel, etc.: The exemption is available to manufacturers of biodiesel fuel, alcohol fuel, wood biomass fuel, or biodiesel feedstock.
    – Sales/Use tax exemption for livestock nutrient management equipment & facilities
    – Sales/Use tax exemption for replacement parts for farm machinery & equipment
  • Flexible Profit Distribution: A start-up company in Washington which is an LLC has the benefit of being able to select different ways of distribution of profits unlike a partnership where the distribution is 50-50.

Advantage#2: Washington Business Incentives

Once you register a new company in Washington, there are several business incentives and programs that your business entity can benefit from. Let’s take a look at some of the most popular programs:

  • Washington Foreign Trade Zone (FTZ): If your start-up company in Washington focuses on importing components and parts for distribution or manufacturing finished products for exports then the Foreign Trade Zone (FTZ) is where your business needs to be located. Your business will not only benefit from the tremendous competitive advantage but there are other advantages as well. Since, the FTZ is not considered to be inside the U.S. Customs Territory, merchandise and components are exempted from duty payments and can be shipped in or out of the Washington FTZ. There are 12 FTZ’s across Washington including Seattle, Tacoma, Grays Harbor, Spokane, and Vancouver among others. FTZ Manual
  • Washington Opportunity Zone (OZ) Program: The salient aspect of the Washington Opportunity Zone (OZ) Program is that investors or businesses will be able to defer paying their taxes on capital gains that have been invested in Qualified Opportunity Funds and these funds are in turn invested in distressed communities that have been designated as Opportunity Zones. The tax deferral can be for a period of up to nine years. There are 139 census tracts in Washington. List of Qualified Opportunity Zones

Are there any Disadvantages of Incorporating in Washington?

What disadvantages could possibly be there for a start-up company in Washington? In reality there is none except a few that are common to different types of businesses. For example, processing of incorporation can be time consuming and corporations would require more paperwork while LLC formation has the disadvantage of limited life. These are small disadvantages compared to the many incentives the Evergreen State has to offer.

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