LLCs in Washington

Entrepreneurs prefer to start an LLC in Washington because it has one of the top pro-business climates in the nation. Today, the state situated in the Pacific Northwest region is home to more than 600 thousand small businesses and this includes several Fortune 500 companies like Amazon, Expedia, Alaska Airlines, clothing merchant Nordstrom, and Microsoft among others . The state not only has a strong industrial base but also small business incentives and grants programs that aid with business growth and expansion.

What is an LLC in Washington?

A limited liability company (LLC) is a type of business structure that provides limited personal liability. An LLC may have a single owner (member) or multiple members. The tax classification of an LLC by the IRS is that of a “pass-through entity”. It is also considered to be a hybrid entity as it has similar characteristics to a C Corporation as well as a partnership. If you want to form an LLC in Washington then you may choose from any of the following structures:

• Single-Member LLC similar to Sole Proprietorship
• Multi-member managed LLC
• Manager-managed LLC
• A series LLC
• Manager-Managed LLC
• Foreign limited liability company

What are the benefits of forming an LLC in Washington?

If you want to establish a limited liability company then a Washington LLC registered agent can help you with the process. There are several facets to this particular type of entity but above all, it offers several benefits. Some of the advantages are:

• Limited Personal Liability – Business debts are an important aspect of any company. Now, if you register a Washington LLC online then unlike certain other forms of entities, an LLC will enjoy limited liability protection. This simply means that as the owner or member of the said LLC, you will be protected from liability due to any debts of such an LLC.
• Tax Flexibility – One of the greatest advantages of an LLC is the ability to elect the type of taxation it will follow. A limited liability company may elect to be taxed as a C Corporation, S Corporation, sole proprietorship, or partnership.
• Membership Flexibility – When you set up a limited liability company, you will be able to enjoy certain flexibilities in terms of management structure. This means that the core members of such a limited liability company may include individuals, partners, trusts, estates, or other business entities.

Forming an LLC in Washington

Washington is quite a popular state among entrepreneurs and you can register a Washington LLC online. The state has a sound business infrastructure that includes the availability of a skilled workforce, a strong culture that promotes creativity, the availability of low-cost energy, and a robust supply chain. There are however several key areas to focus on when starting a limited liability company as these will pave the way for conducting business skillfully and efficiently.

1. Choose your Washington LLC name

One of the most important aspects of any new LLC in the state of Washington is the business name. A business name is essentially the identity of the company and is used for several purposes including registering a business, marketing, and branding activities. There are certain naming guidelines you will be required to follow governed by WA Rev Code § 25.15.011 (2016). The guidelines require the name to contain words like “limited liability Company”, “limited company” or abbreviations like L.L.C or LLC.

2. Choose a Washington LLC registered agent

If you are interested in starting an LLC in Washington, there are necessary steps that must be taken. The new business registration process varies from one state to another and correct information is a crucial detail that cannot be overlooked. You will also have to maintain compliance with all state laws. A limited liability company is required to continuously maintain a registered agent in the state pursuant to WA Rev Code § 25.15.021 (2016). A Washington LLC registered agent like IncParadise can assist you with the process of new business formation.

3. File a Certificate of Formation with Washington SOS

The foremost requirement to start an LLC in Washington is the Certificate of Formation for a Limited Liability Company. You will be required to prepare and submit the Certificate of Formation pursuant to WA Rev Code § 25.15.071 (2016) along with a filing fee of $180. A Washington LLC registered agent like IncParadise can help you with the submission process. The certificate can be hand-delivered or mailed to the Office of the Secretary of State, Corporations & Charities Division. You can expedite the process by filing an additional fee of $50.

Form your new business in Washington Today!

4. Prepare Washington LLC operating agreement

To successfully form and operate an LLC in Washington, you will require an operating agreement. It is a type of legal document, which will allow you to shape the financial as well as the working relationship of the LLC with its members or co-owners in such a way that it benefits the business. This document is an internal document and is not required to be submitted to the state. A Washington LLC operating agreement helps with protecting overall business operations. Some of the key areas of a basic operating agreement are:

• The percentage interests of each member in the LLC
• The rights and responsibilities of the members
• The voting powers
• The allocation of profits and losses
• The capital contribution
• The future changes to the membership structure
• The rules for holding internal meetings
• Dissolution or buyout

5. Obtain a Washington LLC EIN

Once you register a Washington LLC online; you will be required to maintain annual state requirements. One such requirement is that of state or business taxes. To file these taxes, you need to possess a tax ID. If you own a single-member LLC then you will require a Social Security number (SSN) to file taxes but if it is a multi-member LLC then you will need to obtain an Employer Identification Number (EIN) from the Internal Revenue Service (IRS).

6. Open a Bank Account

When starting a new LLC, apart from creating a Washington LLC operating agreement; the second most vital step is opening a business bank account. This is also known as a checking account and plays an essential role in protecting business interests, further aiding in the overall growth of the business. One of the greatest advantages of having a business account is that it will help you to maintain a record of all your business expenses thus simplifying tax reporting.

7. Obtain necessary business licenses and permits for Washington LLC

When you form an LLC in Washington, there are several state requirements for each business to meet. Apply for your state business licenses or permits post registration. Different types of licenses that may be applicable depending on business structure, location, and activity. Once you have acquired the necessary license, your business can become operational. It is critical to remember that business licenses are also an annual requirement like a Washington LLC annual report. Licenses and permits for Washington LLC can be categorized under:

• Business License Tax Certificates – This is a general license mandatory for every domestic LLC and that is issued by the Department of Revenue, Business Licensing Service. You will need to provide your Unified Business Identifier (UBI) and EIN while applying. The fee is $90.
• County or City Licenses – This is a type of license that is also known as a local license. Every county in Washington has different rules and regulations for licensing. You may need a single or multiple Washington business licenses or permits to operate in any said county.
  

  Example: If you start a business in Kings County or are planning to install amusement devices then you need a county license. A Pool table license starts at $100 per table and will be a maximum of $500 per establishment.

• Professional and occupational licenses – The requirement of this license depends on which specific area or activity the business focuses on. Certain professions associated with business like Athletic Trainers, Accountants, Security Services, Cosmetologists, and Vehicle manufacturers are areas where licensing is regulated by the Washington state department of licensing.

8. File an LLC annual report

Once you register Washington LLC online and obtain the necessary permits and licenses, the next step is to meet all required annual state compliances. One of the most pivotal requirements for several businesses, including a limited liability company is filing an annual report. This report has to be submitted to the office of the Washington Secretary of State – Corporations Division according to WA Rev Code § 25.15.106 (2016). You are required to file the Washington LLC annual report each year by the end of the LLC registration anniversary month.

Example: If you have filed the Certificate of Formation on August 10, 2022 then your Washington LLC annual report will be due on August 31, 2023. The fee for filing this report is $60 and there can be penalties involved for late or no filing.

9. Comply with Washington LLC taxes and other regulations

Once you register your Washington LLC online, you will be required to comply with annual maintenance requirements. State taxes are equally as important as the Washington LLC annual report. The type of state or business taxes will depend primarily on the entity structure, and for an LLC, the most integral is the Business & Occupation Tax. This is a gross receipts tax that is measured on the value of any products, gross income, or gross proceeds from sales.

Know more about starting an LLC in Washington!

The process to register a Washington LLC online may include several questions concerning different aspects of your new business formation. We have created a special section of Frequently Asked Questions for addressing some of these queries.

Is Washington a good place to start an LLC?

The state of Washington has been consistently ranked as one of the top states for starting a new business. The state is home to large corporations, single-owner, startups and work-from-home businesses. Some of the salient highlights of the state are:

• A rapidly growing economy with a 5.7 percent increase annually
• Energy costs for businesses are quite low as compared to other states in the country
• A variety of landscape that promotes tourism including a 3,000-mile coastline
• Washington is currently ranked 7th in the country for higher education resulting in the availability of a talented workforce
• Wasahington is home to a strong creative community and a diversity of industries

How much does it cost to register an LLC in Washington?

If you want to form an LLC in Washington then you will be required to submit a Certificate of Formation. The initial cost to register an LLC is $180. If you want to expedite the process then the total fee along with the registration fee would be $230. Apart from the initial cost, additional costs include the Annual Registration, Business Licenses, Name Reservation, and hiring a Washington LLC registered agent among others.

What are the annual fees for a Washington LLC?

The annual fee will vary depending on the type of documents being submitted. Once you start an LLC in Washington, you will need to file annual reports ($60 filing fee), name reservation ($30) and business license ($90 non-refundable fee) issued by DOR. It is important to note that the fee for county licenses will vary according to license type and county.

What are the disadvantages of forming an LLC in Washington?

Choosing to form an LLC in Washington is one of the best structures that you can choose to form. Since a limited liability company is governed by Washington state law, this may affect the way an LLC can behave in certain scenarios, especially in cases of dissolutions. The biggest disadvantage is a transfer of ownership, which is a much harder process for an LLC, than for a corporation.

Do I need a registered agent for my Washington LLC?

Yes. If you are planning to conduct your business in the state of Washington then you will need to operate your company according to the state laws. The Revised Code of Washington requires every LLC to hire and maintain a Washington LLC registered agent according to WA Rev Code § 25.15.021 (2016). You can also change your registered agent by filing a statement of change with the secretary of state in accordance with RCW 23.95.430.

Does an LLC need a business license in Washington?

Yes. A business license is required for any company to be operational. You may incur a penalty if you conduct business without proper licenses or permits.

Can I register a foreign LLC in Washington?

Yes. You can register and operate a foreign LLC in the state. You will need to file a Profit Foreign Registration Statement pursuant to WA Rev Code § 25.15.321 (2016), with the office of the Secretary of State, Corporation & Charities Division. This process is known as the “Qualification of Foreign LLC” and without it; you will not be allowed to conduct business in Washington.

Can I cancel my LLC in Washington?

If you want to cancel it or close your company then the LLC has to undergo the process of dissolution. According to state laws, WA Rev Code § 25.15.265 (2016), you will be required to file a Certificate of Dissolution with the Secretary of State, Corporations & Charities Division. There is no fee for dissolution.

Ready to form a Washington LLC?

A Limited Liability Company is one of the most popular structures that you can form in Washington. There are several advantages to forming this structure over other business structures including tax benefits. If you want to start an LLC in Washington then IncParadise can assist you with the process of registration for your new business.

Introduction – Why New York?

There are several reasons why entrepreneurs prefer to transfer their businesses to NYC or relocate to this state. New York is a high-growth state with a vibrant economy and the GDP is $1.7 trillion. There are several high-growth industries including manufacturing, IT, financial services, professional services, healthcare, retail trade, business services, and education among others. There are 114 Fortune 1000 Companies headquartered in the state and some of them started out as small businesses. The business benefits in New York including small business resources and incentive programs provide just the right environment for all forms of entities to quickly adapt and grow.

Buzzing startup environment

One of the benefits of moving your business to New York is the availability of a strong startup ecosystem. A good environment for startups and small businesses is necessary as it promotes ideas, inventions, and research. The startup ecosystem in New York comprises several aspects that are crucial for entrepreneurs and business owners like entrepreneurship education programs, startup accelerators, business incubators, seed funding, angel investors, startup mentors, and startup events among others. Whether you are moving a corporation to New York or an LLC, you can connect quickly to this existing ecosystem and maximize your revenue and growth.

Tax based incentives

Taxes can sometimes be overwhelming especially in the initial stages of growth for a small business. When you transfer a business to NYC, there is a wide variety of tax-based incentives that you or your startup can leverage. The tax incentive programs are targeted at businesses in various industries and provide a certain degree of tax relief. The business benefits in New York where taxes are concerned include the following:

• Excelsior Jobs Program provides fully refundable tax credits
• The START-UP NY program provides an opportunity to operate tax-free for 10 years
• The Commercial Tax Credit Program offers credits of $7 million per year
• Economic transformation and facility redevelopment program tax credit
• Investment tax credit (ITC)
• Manufacturer’s real property tax credit program
• Sales tax exemption on equipment, machinery, and materials, used in Production
• QETC capital tax credit program
• Restaurant Return-to-Work Tax Credit Program
• Employee Training Incentive Program (E-TIP) tax credit

Government support

If you are thinking of moving your business to New York then there are several advantages the state offers. You will be able to qualify for different forms of government support programs that vary from providing financial assistance in the form of grants to high accessibility to valuable state resources that will assist you with business planning, operations as well as growth. Government support programs and resources are one of the top business benefits in New York and include:

• Innovation and Technology Support programs
• Capital Assistance initiatives
• Entrepreneurial Development programs
• Procurement Assistance
• Global & Export Assistance
• Contracting opportunities to enable minority and women business development
• Employee training and apprentice programs
• Comprehensive technical assistance through small business liaison offices
• Entrepreneurship Assistance Centers (EAC)
• Small Business Development Centers (SBDC)
• Small Business loans, grants, and micro-enterprise programs

Talented workforce

One of the key motivations for moving your business to New York is the availability of a skilled workforce. The state of New York is home to one of the most comprehensive systems for higher education in the nation. It is home to some of the best colleges and universities including those in the Ivy League. Some of the top educational institutions include Columbia University, Cornell University, New York University, University of Rochester, Rensselaer Polytechnic Institute, University at Buffalo-SUNY, and Syracuse University among others. These institutions play a key role in shaping future entrepreneurs and provide the skill sets necessary and in demand. The skilled workforce is one of the unique business benefits in New York and is responsible for driving growth in startups, medium-sized enterprises, and large organizations.

Domesticating Your Company in New York

If you already own a business in another state and plan on moving your business to New York then it is possible. One of the processes to move your business is through domestication but does New York allow domestication? Unfortunately, as of now, there are no provisions to allow the domestication of businesses formed outside the state but there are other ways to transfer your business to NYC.

Steps to Move Corporation to New York

If you already own a corporation in any other state and are thinking of moving your business to New York then there are different options available. Although entity domestication in New York is not possible, you can choose two other processes for transferring your business to this state. Let us look at the processes in detail.

Register as a Foreign Corporation

One of the ways you can transfer a business to NYC is through the process of foreign qualification. This process is beneficial for those who don’t want to start a new business but simply want to expand their existing business to New York. Moving a corporation to New York through foreign qualification will be governed by 2020 New York Laws, BSC – Business Corporation, Article 13 – Foreign Corporations.

• You will need to choose a name for the foreign corporation that is distinguishable from any other names on the Corporation and Business Entity Database
• You need to conduct a name availability search to ensure your chosen name is unique and available
• You can also conduct a business in NYC under an assumed name or DBA (Doing Business As)
• You will need to file an Application for Authority to transact business in the state pursuant to NY Bus Corp L § 1304 (2020)
• You will also need to submit a certificate of existence, certificate of good standing, or certificate of status issued by the home state or state of incorporation

Do you want to know how to move a corporation to New York?

Dissolve the home Corporation and establish a new Corporation in New York

As you may already know, entity domestication in New York is not available and if you don’t want to undergo the process of foreign qualification then is there another option available? Yes, there is another way through which you can transfer a business to NYC. This option will involve dissolving your existing entity in the state of incorporation and applying for formation of a new entity in New York.

• Hire a registered agent in the state
• Prepare the corporation bylaws
• Reserve a corporate name
• File Certificate of Incorporation
• Get an Employer Identification Number (EIN)
• Obtain necessary licenses and permits

Steps to Move an LLC to New York

If you are operating a limited liability company and want to expand its presence in the state of New York then there are some options available. Entrepreneurs prefer moving an LLC to New York only because the state offers very good infrastructure, several tax relief programs, and a skilled workforce. Let us look at the processes that will make moving your business to New York possible.

Register as a foreign LLC

Entity domestication in New York is not yet possible and hence if you are planning to transfer a business to NYC then foreign qualification is one of the options. The benefit of registering as a foreign entity in New York is that your business will be operational in both the states, i.e., the home state (where you formed your LLC) and the new state (New York).

• You will need to choose a name for the foreign LLC and it should be distinguishable from names existing in the New York business entity database
• Your chosen name should be compliant with state laws and you need to conduct a name availability search
• You can also use an assumed name or DBA (Doing Business As) to conduct business in the state
• You will need to file an Application for Authority to transact business in the state pursuant to NY LLC L § 802 (2020)
• You will also need to submit a certificate of good standing or certificate of status issued by the home state along with the Application for authority
• You will need to fulfill the mandatory publication requirement in the state pursuant to NY LLC L § 802 (2020) i.e., a foreign LLC has to publish a copy of their application for authority in two different local newspapers

Are you thinking about how to move an LLC to New York?

Dissolve home LLC and form a new LLC in New York

If you don’t want to register your LLC as a foreign entity and yet want to transfer a business to NYC then there is one option available. You will be required to dissolve the LLC in your home state and form a new domestic entity in New York. This process of moving an LLC to New York is different from that of foreign qualification.

• Hire a registered agent in the state
• Reserve a business name
• File Articles of Organization
• Comply with New York LLC publishing requirements
• Apply for and obtain an EIN
• Apply for the appropriate New York business licenses and permits

Move Your Business to New York with IncParadise

The state of New York is one of the best destinations for relocating a business. This is more so because of the excellent infrastructure, availability of funding for startups, access to business incentive programs, and much more. If you plan on moving your business to New York then we at IncParadise will assist you with the process of relocating your business with ease.

Introduction – Why Florida?

Florida is home to 2.8 million small businesses and this includes domestic entities, foreign businesses, and those that filed for a Florida Certificate of Domestication. The state is also home to 18 companies on the Fortune 500 list like Publix Super Markets, International Assets Holding, Tech Data, FPL Group, and Fidelity National Financial among others. The state offers new businesses a pro-business climate that helps small and medium-sized enterprises to achieve growth and meet their expansion goals. If you plan on moving your business to Florida then it is important to understand the benefits of doing business in this state.

Pro-business environment

One of the most decisive factors that drive entrepreneurs to transfer a business to Florida is the business climate. Several elements that work harmoniously towards ensuring Florida has one of the best pro-business environments in the nation. Today, small business owners are moving an LLC to Florida or their corporation because they want to be an integral part of the $1 trillion economy. The current economy can be considered as an outcome of several factors including the pro-business environment that offers growth opportunities and startup resources for all forms of businesses.

Business-friendly tax structure

Some states in the US are considered good for starting a small business as they have tax benefits, low taxation, higher resources, financial incentives and funding sources, and talent among others. These are some of the business benefits in Florida but one of the most important amongst them is the business-friendly tax structure. Here are three important facts to consider:

• Florida is considered a tax-friendly state as it does not impose an income tax on individuals
• Moving a corporation to Florida means that it will be subject to a 4.458% corporate tax, which used to be 5.5%
• If you own an LLC, sole proprietorship, or S corporation and are moving your business to Florida then you will be exempt from paying any state income tax

Skilled workforce

Whether you are moving your business to Florida or any other state for that matter, one of the key drivers for business growth is the right employees. The type of skills required by your company will depend purely on the business. For example an IT company may require programmers, coders, web developers, software developers, and graphic designers among others. The availability of a skilled workforce is one of the top business benefits in Florida.

Business incentives

One of the salient business benefits in Florida is the state incentives program. There is a wide variety of business incentives that include everything from tax credits to grants and loan programs. The objective of these incentives is to increase the bottom-line advantages for a new business thus ensuring its long-term profitability. If you plan on moving your business to Florida then some of the top incentive programs to watch out for are:

• Capital Investment Tax Credit (CITC)
• High Impact Performance Incentive (HIPI)
• Rural Community Development Revolving Loan Fund
• Machinery and Equipment Sales Tax Exemption
• Research & Development Equipment Sales Tax Exemption
• Clean Energy Incentives
• Brownfield Redevelopment Bonus Tax Refund
• Urban Job Tax Credit Program
• General Program Support (GPS) funding program
• Fast Track Project Grant Program

Steps to Move a Corporation to Florida

Since Miami and Tampa Bay started to emerge as new hubs for the tech industry; many entrepreneurs are opting to transfer a business to Florida. If you already own a corporation or have incorporated a business, you can expand your existing business in Florida too. There are three options for moving a corporation to Florida, so let us look at each of the options in detail.

Register as a Foreign Corporation

If you plan on moving your business to Florida then going through the process of foreign qualification is the first option. This option is recommended for those who plan to expand to this state and don’t want to close their business in the home state. Florida domestication of a foreign corporation is governed by 2020 Florida Statutes, FL Stat § 607.1501 – 1520 (2020). The process for a foreign qualification in Florida will include the following steps:

• You will need to designate a Florida registered agent for handling the service of process pursuant to FL Stat § 607.1507 (2020)
• You will need to identify a foreign corporation name, search for name availability, and register the name pursuant to FL Stat § 607.1506 (2020)
• You will have to file the Application by Foreign Corporation for Authorization to Transact Business in Florida pursuant to FL Stat § 607.1503 (2020)
• You will also need to submit a certificate of existence or certificate of good standing issued by your home state

Convert a Foreign Corporation to a Florida entity

The second option for moving your business to Florida is conversion. It is a process where you change the type of entity or you change both entity types as well as the home state. This process is also known as Florida domestication of foreign corporations, which means converting an eligible business entity into a Florida profit corporation. The process involves:

• In case of domestication, you will be required to file Articles of Domestication also known as Florida statement of domestication pursuant to FL Stat § 607.11922 (2020).
• You will also have to file Articles of Incorporation pursuant to FL Stat § 607.0202 (2020) along with a cover letter to the Department of State, Division of Corporations.
• If you are planning to transfer a business to Florida using conversion then you will have to file Articles of Conversion pursuant to FL Stat § 607.11933 (2020) along with Articles of Incorporation and a cover letter.

Dissolve home Corporation and establish new Corporation in Florida

If you don’t want to register a foreign entity, or apply for conversion or Florida domestication of a foreign corporation then the only way to proceed is by dissolving the home corporation and incorporating a new entity in Florida. Dissolving a home corporation can be a time-consuming process as you will need to file paperwork for dissolution or termination according to the home state laws. Once you have dissolved a corporation, you will not be able to transfer a business to Florida but will have to form an entirely new domestic entity. The process for the same is:

• Appoint a Florida registered agent for service of process
• Reserve a business name
• File Articles of Incorporation for a Profit Corporation along with a cover letter and the appropriate fee
• Apply for appropriate business licenses

Do you want to move your corporation to Florida?

Steps to Move an LLC to Florida

Florida is a state with a pro-business climate and offers several opportunities for any form of business to experience growth and expansion. If you plan on moving an LLC to Florida then not only can you take advantage of the state resources but also enjoy tax credits and other incentives. You can transfer a business to Florida and as a limited liability company, there are three options available. Let us check out what these options are.

Register as a foreign LLC

If you have already formed an LLC in another state and want to expand your business to Florida then registering a foreign LLC is the right option. There are times when business owners want to operate their business in multiple states apart from the home state. When moving an LLC to Florida as a foreign entity, the formation will be governed by the 2020 Florida Statutes. The process for moving your business to Florida through foreign qualification will include the following steps:

• Before moving your LLC to Florida, you will need to designate a Florida registered agent for initiating the service of process on behalf of the said LLC pursuant to FL Stat § 605.0113 (2019).
• You will need to choose a name for your foreign LLC, conduct a name availability search, and finally register the name with the Division of Corporations
• To transfer a business to Florida as a foreign LLC, you will have to submit a certificate of existence also known as a certificate of good standing. It has to be issued by the state of formation (home state)
• To register the foreign LLC, you will have to file the Application by Foreign Limited Liability Company for Authorization to Transact Business in Florida pursuant to FL Stat § 605.0902 (2019)

Convert a foreign LLC to a Florida entity

If you plan on moving your business to Florida but don’t want to register as a foreign entity then the best option is to go with the conversion of the entity. It is important to note that if your limited liability company is a non-US entity then it will undergo the process of Florida domestication of foreign LLC and you will have to submit Articles of Domestication pursuant to FL Stat § 605.1055 for the same. If your entity is based in any other state within the US then you will need to follow the process of conversion of “Other Business Entity” into a Florida LLC. The important steps are:

• You will need to file the Articles of Conversion pursuant to Florida statutes, section 605.1045. The information in the Articles is quite similar to that of the Florida statement of domestication and should include the name of the LLC, original jurisdiction of formation, and type of entity it is being converted to.
• You will then be required to file Articles of Organization with the Florida Division of Corporations pursuant to FL Stat § 605.0201.

Dissolve home LLC and form a new LLC in Florida

The process of Florida domestication of foreign LLCs and conversion can be quite complex vis-à-vis simply starting a new limited liability company in Florida. If you don’t want to register as a foreign entity then you don’t have to transfer your business to Florida. You can simply dissolve your existing LLC in its home state or state of formation and then apply for formation of a new LLC in Florida. The process for forming a new LLC will involve the following:

• Hire a Florida registered agent to initiate service of the process
• Reserve a business name
• File Articles of Organization along with a cover letter
• Submit the filing fee
• Apply for appropriate business license or permits

Wondering how to move an LLC to Florida?

Move Your Business to Florida with IncParadise

Florida provides everything that a business needs to sustain, grow, and expand. If you plan on moving your business to Florida then you can take advantage of the numerous resources the state has to offer including a vibrant startup environment. We at IncParadise can help you with the process of moving your corporation or LLC to Florida with ease.

Why Georgia?

Georgia is home to 18 companies on the Fortune 500 list and 33 Fortune 1000 companies. Atlanta is the headquarters for 14 Fortune 500 companies thus ranking it 4th in the list of cities with the most Fortune 500 headquarters and ahead of Boston, Dallas, and San Francisco. Consistent economic development and constantly evolving innovation platforms are considered as primary drivers for entrepreneurs to relocate a business to Georgia. The state continues to outgrow and outpace several other states when it comes to business, technology, and quality of life. Let’s look at some of the business benefits in Georgia that have motivated small business owners and entrepreneurs to move their businesses there.

Taxation benefits

One of the important reasons for moving your business to Georgia is a variety of incentives and credits that a startup can leverage. The state is popular for several types of taxation benefits right from tax credits to exemptions. The business benefits in Georgia where taxation is concerned include the following:

• Sales Tax and Use Tax Exemption – This is a tax benefit that will help businesses that are purchasing or operating specific machinery.
• Inventory Tax Exemption – This is a form of exemption where you will not be required to pay property taxes if you hold your inventory in a warehouse or a factory. It will be applicable post entity domestication in Georgia.
• Job Tax Credit – This is one of the most common forms of tax benefit that you can leverage after you relocate a business to Georgia. Your business needs to be in specific industries for the same like warehousing, manufacturing, broadcasting, telecommunications, research, and tourism among others.
• Port Tax Credit Bonus – If your company deals with imports or exports through a Georgia port then you can avail of this tax credit.
• Work Opportunity Tax Credit program (WOTC) – After moving your business to Georgia, if your company employs veterans, ex-felons, or hires summer youth employees then you will be able to participate in this program.
• Retraining Tax Credit – One of the business benefits in Georgia is that you can avail of an annual tax credit of approximately $1,250 per employee towards teaching materials, instructors, and travel expenses.

Excellent workforce

When you relocate a business to Georgia, one of the factors that will determine the success of your business is its employees. Every company small or medium sized wants to employ the most talented workforce as it helps in generating a better ROI. Georgia takes pride in the fact that talent is one of the renewable resources in the state with the city of Atlanta having gained popularity in providing some of the best tech talent in the nation.

Business incentives and assistance

One of the top benefits of moving your business to Georgia is that you can qualify for a variety of business incentives and small business assistance programs offered by the state. If you are planning to form a startup then there are several financial assistance programs that you can leverage including grants and loans. The objective of these programs is to help you in establishing your company in the startup phase and accelerate to achieve intended growth through the operational stage. Some of the popular programs that you can benefit from after entity domestication in Georgia include:

• Regional Economic Business Assistance (REBA)
• State Small Business Credit Initiative (SSBCI)
• Strategic Industries Loan Program
• Small Business Innovation Research (SBIR)
• The Georgia Micro Enterprise Network (GMEN) Program
• Green Loans
• Entrepreneur & Small Business Loan Guarantee Program
• Enterprise Zone program
• Employment Incentive Program (EIP)
• Economic Opportunity Fund (EOF)

Domesticating Your Company in Georgia

If you have an existing business and want to move your business from the state of registration to a different state then it would require you to undergo the process of domestication. The question is does Georgia allow domestication? The answer is that as of now, there are no provisions in the state under which entity domestication will be possible. If you are wondering if it is at all possible to relocate a business to Georgia then the answer is yes. There are other options like Georgia Foreign Qualification or dissolving your entity in the formation state and registering as a new company in Georgia.

Steps to Move Corporation to Georgia

If you are thinking of moving a corporation to Georgia then there is a process that you will need to undergo. The documentation, registration application, and fee will depend on the process you have chosen to relocate a business to Georgia. Let us look at the processes in detail.

Register as a Foreign Corporation

If you already own a corporation in another state and want to move your business to Georgia then the first option is to register it as a foreign corporation. This option is beneficial if your primary goal of moving your business to Georgia is simply business expansion and you want to operate the company in the home state (state or jurisdiction of incorporation) as well as the new state.

• You will need to designate a Georgia registered agent for handling the service and process
• You will require a name for the foreign corporation or even a valid name reservation number
• You can conduct a business name search to check the availability of the existing name
• You can also register a Doing Business As (DBA) or a trade name in Georgia
• You will have to file the Application for a certificate of authority pursuant to GA Code § 14-2-1503 (2020)
• You will also need to submit a certificate of existence or certificate of good standing issued by your home state

Do you want to move your corporation to Georgia?

Dissolve the home Corporation and establish a new Corporation in Georgia

The state of Georgia doesn’t allow domestication and hence you will not be able to shift your corporation’s charter to this state. The only way you can relocate a business to Georgia is to dissolve the corporation in your charter state and form a new corporation in this state.

• Hire a registered agent in the state
• Reserve a business name
• File Articles of Incorporation
• Publish a notice of intent to file articles of incorporation
• Apply for the appropriate business or professional licenses

Steps to Move an LLC to Georgia

Sometimes a company has to move from one state to another and there may be many reasons for the same like lower taxes, lower cost of doing business, or better infrastructure and markets among others. If you are already operating a limited liability company and want to transfer your LLC to Georgia then there are two processes by which this will be possible.

Register as a foreign LLC

One of the ways to move your business to Georgia is through the process of foreign qualification also known as registering a foreign entity. When you register as a foreign company in Georgia, you will be able to operate your business in both the states, i.e., the home state (state of LLC formation) and the new state (Georgia). Entrepreneurs prefer foreign qualifications as a way of moving an LLC to Georgia when they intend to expand their businesses to newer markets.

• You will be required to maintain a Georgia registered agent in the state pursuant to GA Code § 14-11-703 (2020)
• You will need to identify a name for the foreign LLC or possess a valid name reservation number
• You should check for LLC name availability so that the existing name can be reserved with Georgia SOS
• You can also register a trade name in Georgia or a Doing Business As (DBA)
• You will have to file the Application for a certificate of authority pursuant to GA Code § 14-11-702 (2020) along with a fee of $225

Are you wondering how to move an LLC to Georgia?

Dissolve home LLC and form a new LLC in Georgia

If you have been thinking about moving your business to Georgia then there are several important things to consider. Since entity domestication in Georgia is not allowed by the state and if you don’t want to register as a foreign LLC then what are your options? The only way to set up a business in Georgia is by dissolving your entity in your home state and forming a new domestic entity in this state.

• Hire a registered agent in the state
• Reserve a business name
• File Articles of Organization
• Submit a Transmittal form
• Apply for the appropriate Georgia business licenses and permits

Move Your Business to Georgia with IncParadise

Georgia presents a pro-business climate with access to grants, financial assistance, business incentive programs, tax credits, and much more. If you plan to relocate your business to Georgia then you will be able to leverage a multitude of opportunities. We at IncParadise are here to help you with the process of moving your business to Georgia with ease.

Georgia Business Entity Search

There are almost 1.1 million small businesses operating in the state of Georgia and one of the primary reasons is the business climate and environment. The state is considered one of the ideal places for forming a startup or simply starting any form of business thanks to its robust infrastructure, availability of skilled professionals, and a variety of business and tax incentive programs.

What is Georgia’s business entity search?

Every state in the USA has a government agency like the Secretary of State or the Division of Corporations, which helps in making information on business entities searchable. The information that can be used for conducting this search can vary from one state to another like the methods for Georgia business entity search may differ from that of California entity search.

Example: You want to form a startup in Georgia in the IT software segment and want to name it “Standard Office Systems”. Now if you conduct a business entity name search in Georgia then it will bring up a company by the name of Standard Office Systems of Atlanta, Inc., with an active status. This means you will not be able to use this name. Now if you change the name to “Atlantis Software Systems” and run the Georgia business name search then you will find that the said name is available.

Why is it important to do a Georgia business entity search?

A Georgia business entity search is an important process connected to every new business registration or foreign qualification in the state. If you already own a brand and are planning to launch it in multiple states or even nationwide then in order to enter new markets, you will have to navigate through multi-state name changes. When you conduct a name availability search using the Georgia business name database or any state database, it makes the process of naming a business easier. Let’s look at some of the reasons why conducting an entity search is important.

• The process of business entity name search in Georgia will ensure the name you identify for your business is available. At times, the name might not be available as an LLC or INC but by making a small change, you can ensure the availability of such a name.
• The Georgia business name search will allow you to search through the entire Georgia database for businesses right from partnerships to foreign entities.
• The importance of the Georgia business entity search also lies in the fact that if you are unable to find a name and reserve it, you will not be able to proceed with business registration or incorporation.
• The process of entity search will also highlight whether your chosen name is distinguishable from other names in the Georgia business name database using words like Limited Liability Company or abbreviations like “Inc”. depending on the type of business

How to do a business entity search in Georgia?

If you are planning to start a new business, the first and foremost step is to identify a business name and this is irrespective of the type of structure. You will not be able to incorporate or register your startup in the state without a proper business name. The process of Georgia business entity search will help you to identify a name, which will be required in different documents like Articles of Incorporation or Organization, application for Employer Identification Number (EIN), application for opening a business bank account, applications for Amendment, annual registration or report, and article of correction among others. Hence, it is important to conduct a proper business entity name search in Georgia and there are different ways of doing it.

Visit the Georgia Corporation Division Business Search page

The first step towards conducting a Georgia business name search is through the website of the Georgia Corporations Division, Office of the Secretary of State. The Georgia Corporations Division has a detailed entity database of all companies formed in the state and includes their filing numbers and active status. You can utilize the Georgia business name database to find if the name for your domestic or foreign entity is available or not.

Know the search options

Although the rules for naming an LLC will be different from that of a business corporation or a partnership firm, the Georgia business name search will help you identify if your chosen name is unique. There are primarily three different ways you can conduct a business name search and they are:

• Search by business name – The first type of name search is done using a chosen business name. The Georgia business entity search using a name is the most commonly opted method of search. When you opt for this method, you will be able to search the entire name database for Limited Liability Companies, Corporations, and Partnerships among others. Let’s look at an example to understand this method.

  For Example: If you are planning to start a travel company in Georgia and you come up with a name – Georgia Getaways. There are 3 parameters that can be used and they are:

  • Name starting with
  • Name containing
  • Exact match

  If you select name contains and search the Georgia business name database for Georgia Getaways then it brings up the name “North Georgia Get-Aways, LLC” and the status of the company is ‘Administratively Dissolved’. This simply means that if you wanted to form your company using Georgia Getaways LLC or Georgia Getaways Inc., then the name is available.

• Search by control number – You can conduct a Georgia business entity search using a control number as well. A control number is a business registration number that is allotted to the said company when it registers with the state. In some states, it is also known as a corporate number, which is assigned to a business post-approval of their articles of organization or incorporation. This search is normally used to find the status of any business and can help in business entity name search in Georgia as well. Let’s look at an example to understand this process.

  For example: You have two control numbers and they are K323788 and 22039283. When you search the Georgia business name database using K323788, it brings up the name of the business, which is Georgia Travel Club Inc. and the status is administratively dissolved. So, this business is not active and hence you could use a similar name to the one this business had. If you search the second number 22039283, it brings up an active company called Brenda’s South Georgia Travel LLC. Hence, you will not be able to use the same name as this company.

• Search by registered agent/officer name – The third method is to conduct a Georgia business name search using the name of a registered agent or agent for Service of Process. You can also conduct this search using the name of an officer. If you are planning to start a registered agent service firm or want to conduct an entity search using the name of a specific registered agent service then this is the best option.

Submit and view entity details (Active/Inactive)

Once you submit a name in the Georgia business entity search, it will bring up a host of information. Whether you use a business name, control number, or registered agent name, the search will list a single or multiple businesses. The business entity name search in Georgia will bring up entity details including business related information and registered agent information. The entity details that you will be able to see post submission are:

• Business Name
• Business Type
• NAICS Code
• NAICS Sub Code
• Control Number
• Principal Office Address
• State of Formation
• Date of Formation / Registration Date
• Active or Dissolved Status
• Last Annual Registration Year
• Registered Agent Name
• Physical Address of RA

Looking to Conduct a Georgia Business Entity Search?

The process of Georgia business name search is an important process that is required for name reservation and registration of a new business in the state. If the entire process of entity search looks complex then IncParadise can provide meaningful assistance.

Georgia LLC Annual Report or Annual Registration

An annual report is considered an important business document, which contains comprehensive or detailed financial information about a specific company. A Georgia LLC annual report may be required by different types of companies like limited liability companies or public companies, partnerships, non-profit organizations, and professional corporations. Apart from including information on the financial activities and performance in a fiscal year, the document may also contain information on the overall business operations of the said company. Most forms of businesses are required to file a Georgia annual report with the office of the Secretary of State.

What is Georgia LLC’s annual report?

Most forms of businesses are required to file a Georgia annual report as it contains important business or financial information of the said entities. If you have registered a limited liability company then you will need to file an annual report of registration pursuant to 2020 Georgia Code, GA Code § 14-11-1103 (2020). The Georgia LLC annual registration is necessary for both domestic and foreign LLCs in the state.

• The name of the domestic or foreign limited liability company
• The jurisdiction under which the domestic or foreign LLC was organized or formed
• The street address as well as the county where the company has an office
• The name of Georgia registered agent as hired by the said LLC

Why are filing Georgia LLC’s annual reports important?

One of the important aspects of forming a new business is to file a Georgia annual report on time as specified by the office of the Secretary of State. In the state of Georgia, it is mandatory for both domestic and foreign LLCs to this report. These reports are also known as statements of information or business annual reports and apart from fulfilling the legal requirements, these reports can:

• Help a company attract new investors
• Provide creditors an insight into the LLC’s financial status

Filing Georgia LLC Annual Report

A Georgia LLC annual report is one of the annual business requirements in the state. The requirement will normally commence the year after you have formed a limited liability company in the state. You will have to continue to file a Georgia annual report till the time your company is active or until you file Articles of Dissolution or Certificate of Termination in the state. Let’s look in detail at the various processes involved in filing this report or annual registration.

How do I file LLC annual reports in Georgia?

The State of Georgia requires you to file Georgia LLC annual registration pursuant to GA Code § 14-11-1103 (2020) with the office of the Secretary of State. The Georgia SOS offers three options for filing the report and they are:

• Filing annual report for the current year
• Filing for 2 consecutive years
• Filing for the next 3 years

Do you want to submit your Georgia Annual Report?

Georgia LLC Annual Report Fee

Domestic and foreign LLCs must file Georgia LLC annual registration. You will be required to submit the Georgia LLC annual registration fee of $50 along with the Annual Report (AR Form). It is important to note that if you are planning to submit through mail then there is an additional $10 service charge. The fee has to be submitted along with the annual report.

When is the due date to file your Georgia LLC annual report?

If you are filing a Georgia LLC annual report for the first time or as a newly formed business then the filing date is between January 1 and April 1 of the year following the year in which the domestic LLC or foreign LLC was formed.

For Example: If you have formed a domestic or foreign limited liability company on November 22, 2021, then you will need to file a Georgia annual report between January 1 and April 1, 2022.

Consequences of Late Filing of Georgia LLC Annual Report

Georgia LLC annual registration is due on January 1st of each year and you can file it till April 1 of the same year. If you fail to submit the annual report within the due date then it will result in a penalty of $25. You will then have to file with Georgia LLC’s annual report fee of $50 plus a late fee of $25, which is $75. You have to submit the annual report along with the late fee within 60 days from the due date of April 1.

Why is using a Georgia Registered Agent Service a Better Option?

If you are planning to form a limited liability company in Georgia then one of the mandatory requirements as per GA Code § 14-11-209 (2020), is hiring and maintaining a registered agent in the state. A reputable registered agent service like IncParadise will provide you with several benefits including the filing of Georgia LLC annual registration. Some of the other benefits that you can enjoy are:

• When you opt for IncParadise as your RA, you will be notified of the filing date of annual registration as well as the Georgia LLC annual report fee. This will ensure you can submit the report on time thus avoiding a penalty.
• We will also assist you in ensuring your business complies with all LLC annual requirements in the state of Georgia
• As one of the top registered agents in the state, we also offer several services right from filing new business applications to getting an Employee Identification Number or EIN.
• In a worst-case scenario, if your LLC has been dissolved by the state due to non-filing of the Georgia LLC annual report, we can help you with the LLC renewal or reinstatement process.

Need Any Assistance in Filing Your Georgia LLC Annual Report?

There are different types of annual compliances that a limited liability in Georgia will need to meet including that of filing a Georgia LLC annual report. If you choose us as your registered agent in Georgia; you will be able to use our services to ensure that your LLC’s reports are always filed on time to the appropriate government agency like the office of the Secretary of State.