Home to the most crooked street in the world in Burlington’s Snake Alley, and the world’s largest strawberry, Iowa is this week’s ’50 States of Incorporation’ spotlight.
Iowa is often fondly referred to as the “American Heartland.” It’s the only state whose eastern and western borders are completely made up of rivers, with the Mississippi River to the east and the Missouri River to the west. Iowa’s capital and largest city is Des Moines. The overall population rings in as being the 30th most populous of the states.
Overall, Iowa is a pretty great place to start a business. It’s ranked at number 12 of the 50 states in Forbes’s Best States For Business list. This could be attributed to its low business costs, a controlled regulatory environment, and a very high quality of life. Iowa even fared pretty well financially compared to most states after the recession.The state is especially good for business if you plan on starting a business in the manufacturing, food processing, financial services, and biotechnology industries.
Here are a few things to keep in mind if you decide to incorporate in Iowa!
- All Iowa LLCs must have the phrase ‘Limited Liability Company’ or one of the abbreviations: ‘L.L.C.’ or ‘LLC’ in their business name (you can also abbreviate the word ‘limited’ as ‘Ltd.’ and ‘company’ as ‘Co.’ if you feel that works with your business’s name better
- All LLCs in Iowa are required to have a registered agent. The agent has to physically be located in Iowa, but can be a resident or a business authorized to operate in Iowa. Additionally, the RA needs to be included in the articles of organization.
- Don’t forget about the biennial report! This needs to be filed by the LLC before a given due date. The Secretary of State sends the business a report along with a due date every two years so, don’t worry, you will be reminded.
If you think that Iowa sounds like a good place to get the ball rolling on the business of your dreams, or you have any questions about incorporating in Iowa, give us a call at (877) 692-6772!