What makes incorporation in Kentucky a really smart business move? The commonwealth of Kentucky with a dollar GDP of $202.5 billion as at 2017 has a business climate that is simply perfect for any type of business. In 2017, the real GDP of the state grew 1.8%. The top industries driving this economy include agriculture, manufacturing of machinery; coal, natural gas, and petroleum mining, and service industries.

Why Choose Kentucky for Incorporation?

The big brands of today like Toyota Motor Engineering & Manufacturing North America Inc., and GE Appliances have set up companies in Kentucky because the state provides businesses with a competitive platform that enables high growth.

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

• The Kentucky Opportunity Zone is a program under which individuals and corporations can invest in different types of economic development projects in specific zones. Company incorporation in Kentucky opportunity zones, which comprise of low-income, distressed and contiguous districts, will provide businesses with several benefits like temporary tax deferral for capital gains, permanent exclusion from taxable income of capital gains, and special opportunity funds. List of opportunity zones
• The Kentucky Business Incentives & Financial Programs targets at all types of businesses with the aim of providing income tax credits, small business tax credits, and funds or grants to promote their growth, advancement, or expansion.

How do you incorporate in Kentucky?

What is the process through which you can set up a company in Kentucky? What type of documentation is required? Can the registration documents be filed online? If you are confronted with these questions then the following steps will help you understand how incorporation works in Kentucky:

Type of Business

What type of business do you want to form? You can choose to form a domestic or foreign Corporation or any other business like a domestic or foreign limited liability company, partnership, Limited Partnerships (LP), Limited Liability Partnerships (LLP), and Business Trusts. The first step towards company incorporation in Kentucky is choosing the type of business you want to form.

Business Entity Name

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

• Naming Requirements: According to KRS 14A.3-010, a corporate name should contain the words “corporation,” “company,” or “limited” or abbreviation “Corp.,” “Inc.,” “Co.,” or “Ltd.” etc.
• Business name search: You need to search for a business name that is not currently in use. You can conduct a name availability search here.
• Name Reservation: Once you have identified a business entity name, you can reserve the name with the Secretary of State pursuant to KRS 14A and KRS 271B, 273, 274, 275, 362 or 386.
• Name Registration: If you are a foreign entity planning to set up a company in Kentucky then you will be required to register a business name with the Secretary of State pursuant to KRS 14A and KRS Chapter 271B, 273, 274, 275, 362 or 386.

Choose a Registered Agent

According to KY Rev Stat § 5.5-010 (2014), a domestic or foreign corporation or LLC in the state of Kentucky will be required to maintain a registered agent. We are one of the respected registered agents in Kentucky and will be responsible for initiating incorporation in Kentucky through processing of all your documents including “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 file “Articles of Incorporation” pursuant to KY Rev Stat § 2.2-020 (2014), if your business is a domestic corporation. You will have to file a “Certificate of Authority” pursuant to KY Rev Stat § 14A.9-030, if it is a foreign business entity. In order to streamline the process of incorporation in Kentucky, 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 Kentucky, 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 Kentucky Incorporation

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

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Does Kentucky have a positive business climate, one that supports the growth and expansion of businesses? In the last few years, Kentucky has made progressive efforts towards creating a pro-business climate and as a result an astounding 40,000 jobs have been created in industries like manufacturing, service and technology. This is one of the many reasons why people have started to form corporations in Kentucky.

The dollar GDP of Kentucky in 2017 was $202.5 billion and exports reached $30.8 billion, which is 5.8% higher than what it was in 2016. Industry centered on Aerospace Products and Parts topped the list in March 2018 with exports worth $ 11,700,275 while Motor Vehicles following closely have witnessed a percentage change of 7.9%.

We are one of the top Kentucky registered agents and are familiar with all processes pertaining to the Kentucky State and can provide information and assistance for successful set up of your business!

Let’s take a look at how you can form a Kentucky business LLC or Corporation.

Kentucky LLC Registration and Formation

LLC company formation in Kentucky is governed by Chapter 275 of the 2011 Kentucky Revised Statutes. The procedure for registration and formation of LLC is as follows:

Step#1: Hire a registered agent

According to KRS 14A.4-010, a domestic or foreign LLC is required to continuously maintain a registered agent in the state. The primary role of a registered agent is to help you form a Kentucky business and to ensure all processes of entity registration are smooth. 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 Kentucky.

We are in compliance with all regulations in the State of Kentucky.

Step#2: Name Reservation/Registration

In the state of Kentucky, a domestic entity or a foreign business can operate or file Articles of Organization and Certificate of Authority only after the process of reservation or name registration is complete. A business entity name can be reserved under KRS 14A and KRS 271B, 273, 274, 275, 362 or 386. Foreign business entities will be required to register their name pursuant to KRS 14A and KRS Chapter 271B, 273, 274, 275, 362 or 386. LLC company formation in Kentucky naming requirements, highlight the fact that the chosen business name should be distinguishable from the name of any other entity on the records of the secretary of state.

Step#3: Articles of Organization and Certificate of Authority

If you are planning to form a Kentucky business LLC then the most important step is to prepare and file the right registration or business formation documents. In the state of Kentucky, a domestic LLC can be formed and operated pursuant to KY Rev Stat § 275.025 (1996 through Reg Sess). A domestic business entity will be required to file “Articles of Organization” with the secretary of state. On the other hand, a foreign limited liability company can be formed by filing “Certificate of Authority” pursuant to KY Rev Stat § 275.380 (1996 through Reg Sess).

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 Kentucky business, feel free to call us on 702-871-8678.

Kentucky Corporation Registration and Formation

What is the procedure for company formation in Kentucky? There is a process through which you will be able to incorporate your business in the state. The process is as follows:

Step#1: Maintain a Registered Agent

According to KRS 14A and KRS 271B, KRS 273 or KRS 274, a Corporation will be required to continuously maintain a registered agent in the state. Whether you are a domestic Corporation or a foreign business entity, a registered agent is necessary to ensure the process of incorporation is faster and easier.

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 Kentucky. We are in compliance with all regulations in the State of Kentucky and will assist you to form a corporation in Kentucky.

Step#2: Name Reservation/Registration

In the state of Kentucky, a domestic entity or a foreign business can operate or file Articles of Incorporation and Certificate of Authority only after the process of reservation or registration of name is complete. A business entity name can be reserved under KRS 14A and KRS 271B, 273, 274, 275, 362 or 386. Foreign business entities will be required to register their name pursuant to KRS 14A and KRS Chapter 271B, 273, 274, 275, 362 or 386. Company formation in Kentucky naming requirements, highlight the fact that the chosen business name should be distinguishable from the name of any other entity on the records of the secretary of state.

Step#3: Articles of Incorporation and Certificate of Authority

If you are planning to form a corporation in Kentucky then the most important step is to prepare and file the right registration or business formation documents. In the state of Kentucky, a domestic corporation can be formed by filing “Articles of Incorporation” pursuant to KY Rev Stat § 2.2-020 (2014). On the other hand, a foreign business entity can be formed by filing “Certificate of Authority” pursuant to KY Rev Stat § 14A.9-030.

We can help you streamline the process of company formation in Kentucky by filing documents on your behalf through the online process or through an expedited process.

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

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Once you have decided to form a business in the Bluegrass State, you need to ask yourself: what else do I need to make my business operational? Apart from the registration of your business, you will require a business license to operate in the state. The licenses, their fee, and issuing authority vary according to the type of business or industry and the physical location of your business.

It is important to know that the state of Kentucky does not have a statewide business license or one license that applies to all types of businesses. There are specific business types that would require a special permit or license to legally operate in the state. Depending on the type of business, you may even require more than one license.

Kentucky Business License Requirements

What are the requirements for obtaining a business license in Kentucky? Which business entities require a license and which requires permits? Who is the issuing authority for these licenses? These are some of the important questions that you might be confronted with and hence, we have created a guide that will help answer some of these questions.

The most important step towards acquiring a Kentucky company license is identifying the type of business.

The Industry or Business Type

Which industry is your business entity a part of? In the state of Kentucky, the requirement for a permit or business license is dependent on the type of industry.

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

Type of Business or Industry – Automobile

• Issuing Authority – Kentucky Motor Vehicle Commission
• License or Permit – If you are planning to start an automobile business then you require a business license in Kentucky. Some of the common license types issued by the Department of Alcoholic Beverage Control include:
  – Motor Vehicle Dealer/Dealership
  – Automobile Manufacturer
  – Motor Vehicle Distributors
• Application for License – You can download Kentucky company license application and submit at the office of the Motor Vehicle Commission along with the fee. You can also submit or renew your license online.
• Fee – This type of business license fee will depend on the type of dealer like the fee for “New Motor Vehicle Dealer” is $100.

Type of Business or Industry – Alcohol Sales

• Issuing Authority – Department of Alcoholic Beverage Control
• License or Permit – If you are planning to set up a pub, bar, manufacturing facility, alcohol distribution hub etc., then you will require a business license in Kentucky. Some of the common license types issued by the Department of Alcoholic Beverage Control include:
  – Restaurant Drink Liquor License
  – Temporary Retail Beer License
  – Wholesale Liquor and Wine License
  – Brew on Premises License
  – Caterer’s License
• Application for License – You can download a Kentucky company license application and submit at the office of the Department of Alcoholic Beverage Control along with the fee. You can also submit or renew online.
• Fee – There are different types of business licenses issued and the fee will depend on the type of license you require. For instance the fee “Brewer’s License” is $2,580 for one year while that of a “Distributor’s License” is $520 for one year.
  Note: You can even apply for a half yearly license or even pay for two years.

Apart from this, there is another aspect that you need to consider – location of your business! There are some businesses for which a license or permit will not be issued by the state. Instead the issuing authority will be the city or county your business is situated in.

There are certain businesses where you will be required to get an approval from the county licensing authorities or board prior to applying for a state business license. In the City of Winchester, if you are planning to start a business that requires a “liquor by the drink license” then you will need the approval of the local licensing board governed by Ord. No. 864, § 3, 11-17-90, prior to applying for a license with the State Department of Alcoholic Beverage Control.

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Ever wondered where the best selling truck in the U.S – the Ford F-Series is being manufactured? Louisville, Kentucky! A major coal producer, the bluegrass state has been ranked as one of the top states 4 years in a row for new and expanded industry activity per capita. This is the state that is considered as the headquarters for some really major league players including General Motors, Ford, Toyota, Humana, Papa John’s, and YUM! Brand.

Still wondering why you should register a new company in Kentucky?

Advantages of setting up an LLC or Corporation

There is a lot more to Kentucky than meets the eye! Over the years, the state has offered a variety of incentives, tax credits, and grants to small businesses as well as large corporations. Let’s take a look at what advantages are there for your business, if you register in this state.

Advantage#1: Salient benefits of Corporation or LLC

Corporation

• Independent Life: One of the salient advantages of an S Corporation in Kentucky is that it enjoys an independent life. The death or incapacitation of a stockholder will not disturb operations of the business.
• Tax Credit: One of the advantages of a startup company in Kentucky is the Kentucky Small Business Tax Credit (KSBTC) program. Eligible businesses paying taxes imposed by program KRS 141.040 (corporation income tax) can apply for a non-refundable state income tax credit that can vary from $3,500 – $25,000.
• Pass through taxation: If you register a new company in Kentucky as an S corporation then the corporation or firm will not pay any income tax. Instead, the income or loss of the corporation will be passed on to the stockholders.

LLC

• Limited Liability: If you register a new business in Kentucky as an LLC then you will be able to enjoy limited liability protection. This means claimants can sue the LLC and not the owner or investors.
• Flexible Profit Distribution: An LLC has the benefit of being able to select different ways of distribution of profits.
• State Tax Credit: One of the advantages of a startup company in Kentucky is the Kentucky Small Business Tax Credit (KSBTC) program. Eligible businesses paying taxes imposed by program KRS 141.0401 (limited liability entity tax) can apply for a non-refundable state income tax credit that can vary from $3,500 – $25,000.

Advantage#2: Business Incentives

The number of small businesses in Kentucky grew from 341,147 in 2015 to 347,159 in 2017 and this trend is mostly due to the variety of business incentives provided through state based programs. Once you register a new business in Kentucky, you will be able to qualify for most of the programs and this can help promote financial growth and expansion for businesses in a large number of industries. Let’s look at some of the top programs in the Bluegrass State.

• Kentucky Tourism Development Act (KTDA): The KTDA targets a startup company in Kentucky that helps in promoting or supporting new or existing tourism projects. As a part of the program, businesses can benefit from sales tax credit incentives.
• Kentucky Business Investment (KBI) Program: The primary objective of the KBI program is to provide income tax credits to new as well as existing businesses in the state. The tax credits can be earned in several areas including non-retail technology or service, energy-efficient alternative fuels, manufacturing and alternative fuel among others.
• Direct Loan Program: This a pro-business program initiated by Kentucky Economic Development Finance Authority (KEDFA). The objective of this program is to provide long term financing in industries like tourism, agribusiness, service industry, and industrial ventures. If you register a new company in Kentucky, you can benefit from this loan at below-market interest rates.
• Kentucky Small Business Loan Program: The objective of this Kentucky loan program is to help a small business to acquire funding that is required for starting or growing their business. This program has been initiated by Kentucky Economic Development Finance Authority (KEDFA) and can finance up to 100% of the project cost.

Are there any Disadvantages of Incorporating in Kentucky?

When you register a new business in Kentucky, you can be rest assured that there is a wide variety of business incentives to leverage on but are there any disadvantages? There are limited numbers of disadvantages that are dependent on the type of business you register. For example, the disadvantage of an LLC is that it will get dissolved when a member dies or if it goes bankrupt. Similarly, incorporation may lead to higher overall taxes. These disadvantages far outweigh the benefits and advantages of forming a business in Kentucky.

Click here to REGISTER today!

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Once your company is set up, you will need:

1. Tax ID (EIN) – free over the Internet or phone.
2. Yearly Requirements and Fees for Colorado companies – You are required to file an annual report with the Secretary of State. An annual report can be filed online starting at the beginning of the second month prior to the month of organization of the entity. The cost is $20.00 and can be filed by a clerk or a secretary.
3. Company Minutes & Stock Certificates – are included in incorporation. You will have access to documents generated on your client account.

Colorado additional services

• Registered Agent
• Annual Report
• EIN (Tax ID)
• More Additional Services

• Why Colorado?
• Colorado Registered Agent
• Colorado Annual Requirements
• Colorado Corporation Statutes: The Colorado Statutes; Title 7: Corporations & Associations