Known as the “Tar Heel State”, North Carolina has an exporter rank of 15 and a trade balance rank of 37. Some of the top industries or businesses involved in the highly revenue generating export state include Pharmaceuticals, Industrial Machinery, Aircraft, Electrical Machinery, Plastics, Motor Vehicles & Parts, and Cotton among others. Recently, the banking & finance industry has shown rapid economic growth and this is a favored industry for incorporation in North Carolina. Some of the top names in this sector include AONHewitt, BB&T, Credit Suisse, MetLife, Wells Fargo, TIAA, PNC, and Bank of America.
Why Choose North Carolina for Incorporation?
Whether you are planning to form a corporation or a limited liability company in North Carolina, it is a known fact that this is one state that has been consistently recognized for its pro business climate. Business incorporation in North Carolina will provide you with the platform required to grow and become a part of the thriving economy.
There are major benefits that small businesses can gain through various programs being implemented to provide businesses with the much needed support they require as start-ups. There are several programs in place for corporations and LLC’s and some of them are:
- Machinery and Equipment, Sales and Use Tax Exemption: If you set up a company in North Carolina in the manufacturing sector and qualify for this program then your business can benefit from exemption from sales and use tax on manufacturing machinery.
- Job Development Investment Grant (JDIG): It is a discretionary incentive program that is performance based. The main aim of the program is to facilitate cash grants directly to new businesses and expanding companies.
How do you incorporate in North Carolina?
What is the process of business incorporation in North Carolina? What type of documentation is required? These are some of the common questions that you will be confronted with if you are planning to establish a new business in the state. The following steps will help you understand the entire process:
What type of business do you want to set up in North Carolina? If you want to set up a company in North Carolina, you can choose to form Profit and Professional Corporations, Limited Partnerships (LP), Limited Liability Partnerships (LLP), and Limited Liability Companies (LLC) among others. The type of business entity you want to form can be a domestic or a foreign entity. The forms and fee will be different for each type of entity.
Business Entity Name
If you have already identified the type of business you want to set up then the next step towards incorporation in North Carolina is to identify a name for your business entity. There are 3 steps towards business name formation and they are:
- Naming Requirements: The naming requirements for LLC as well as business corporation should be pursuant to §55D-23 of the General Statutes of North Carolina. 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.”
- Business name search: You need to search for a business name that is not in use currently. You can conduct a name search here.
- Name Reservation: Once you have identified a business entity name, you can reserve the name with the Department of the Secretary of State, Business Registration Department for a period of 120 days.
- Name Registration: If you are a foreign entity planning to set up a company in North Carolina then you will be required to register your business name pursuant to §55D-24 of the General Statutes of North Carolina.
Choose a Registered Agent
A domestic business entity as well as a foreign entity authorized to transact business in the state of North Carolina will have to maintain a registered agent pursuant to NC Gen Stat § 55-5-01 (2013) for corporations and NC Gen Stat § 57D-2-40 (2014) for limited liability companies.
We are one of the respected registered agents in North Carolina and will be responsible towards initiating incorporation in North Carolina through processing of your “Articles of Organization” and “Articles of Incorporation” for domestic corporations and “Certificate of Authority” for foreign corporations.
Articles of Incorporation and Certificate of Authority
You will be required to submit “Articles of Incorporation” governed by 2013 North Carolina General Statutes, Section 55-2-02, if your business is a domestic corporation and a “Certificate of Authority” pursuant to 2013 North Carolina General Statutes, Section 55-15-03, if it is a foreign business entity. In order to streamline the process of incorporation in North Carolina, we can file documents on your behalf through the online process or through expedited process.
Date Stamped Copies
As a part of the process of company incorporation in North Carolina, we will ensure, you receive date-stamped and filed copies that verifies that the state has filed as well as formed your corporation.
Costs and Fees associated with North Carolina Incorporation
What would it cost to set up company in North Carolina? Check Fees here!