This week’s state is one of America’s most fruitful agricultural regions – Kansas. Though it is more well known for its production of wheat, Kansas is officially known as the ‘Sunflower State,’ though it produces a lot more than that.
The natural gas, petroleum, aerospace, and telecommunications industries have all found a welcoming home in Kansas, and for good reason. Though Kansas’s hospitality towards visitors is legendary, fewer know just how friendly the state is towards small-businesses.
Thumbtack’s 2013 survey of Kansas business owners found that those surveyed would give the state an ‘A’ for its overall friendliness, and while the sparse population can make it a bit difficult to find people to hire, that doesn’t make small business owners feel any less supported by their state. Statewide living costs are low and, according to Forbes, Kansas offers one of the most enticing business incentive packages in the country.
The Kansas state government has even built a site specifically to help small business owners get the ball rolling by forming a business plan, finding investors, and applying for licenses and permits. It even lets you know how to maintain your business once everything is in place. But what sort of paperwork, exactly, do businesses in Kansas need to file? And how would someone form an LLC or incorporate in Kansas?
- Starting a sole proprietorship in Kansas is fairly easy. All you have to do is file for a ‘Doing Business As’ name, and then for any licenses and permits you might need. If you plan on hiring employees, make sure you apply for an EIN as well. A sole proprietorship will, however, mean collection agencies can target your personal property to pay for the business’s debts.
- Forming an LLC or incorporating in Kansas turns your business into its own, separate legal entity, allowing it to carry its own debts, and affording you some protection. Kansas does require all business entities to have a registered agent within the state, and that they file an annual report, along with a small filing fee, every year.
- If you want to incorporate in Kansas, you need to file your Articles of Incorporation with the secretary of state. You must also choose a business name that includes the word ‘incorporated,’ or some abbreviation of it, and disclose the names and addresses of the incorporators, the initial board of directors, and the corporation’s registered agent. You will also need to indicate what class of stock, and how many shares, the corporation will be authorized to issue.
If Kansas sounds like the state you want your small business to call home, or if you have any questions on how to form a limited liability company or incorporate in Kansas give us a call at (877) 692-6772! And remember, there is no place like home!