50 States of Incorporation: South Dakota

incorporate in south dakotaWhat does it mean to incorporate in South Dakota? For small businesses, the state offers an abundance of industries to get started in and plenty of sightseeing by way of national parks and monuments. The home to Mount Rushmore, Badlands National Park, and routes within the Lewis and Clark National Historic Trail, South Dakota is ranked by Forbes as #11 on the best states for business list.

The state’s biggest draw? Being #1 in the country for lowest business costs which are about 25% below the national average. Industries that perform well in South Dakota include retail, finance, healthcare, agriculture, tourism, and government spending. Ibp Hog Market Inc., Ellsworth Air Force Base, and Rapid City Regional Hospital round out the top three largest employers in the state, with anywhere between 4,000 to 4,800 employees. With additional low unemployment rates, it’s hardly any wonder that the state ranks as #6 in the nation for its economic climate.

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50 States of Incorporation: South Carolina

This week on 50 States of Incorporation, we take a look at ‘The Palmetto State,’ South Carolina! Also know as ‘The Rice State’ and ‘The Swamp State,’ South Carolina’s official nickname comes from the state tree, the Sabal Palmetto, which distinguished itself during the revolutionary war. It was a fort made of Palmetto logs that repulsed the British fleet from Sullivan’s Island back in 1776! incorporate in South Carolina But South Carolina has a lot more to offer than strategically useful flora. Though it was hit hard by the recession, its strong agricultural heritage, and the state’s friendly attitude towards business, has really boosted its recovery. So what should South Carolinian entrepreneurs know about their state? And what does it take to open up a business and incorporate in South Carolina?

Are there any benefits to running a business in South Carolina?
Plenty! South Carolina is actually one of the most business-friendly states in the USA. Thumbtack gave the state an A- in overall friendliness, and South Carolina has the tenth lowest tax burden of all states. It also makes sense to incorporate in South Carolina as the state boasts a low, 5% flat corporate income tax rate. Of course, South Carolina does all it can to help small businesses within the state. The South Carolinian Secretary of State’s office maintains a Small Business One-Stop Site to help new entrepreneurs find and file for everything they need to get their business up and running, and the Department of Commerce is proud to offer multiple growth incentives to businesses with the state.

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50 States of Incorporation: Rhode Island

incorporate in Rhode IslandWe’re heading on over to the Ocean State for today’s 50 States segment to find out how to incorporate in Rhode Island!

Rhode Island is the smallest state in the United States, and even then, this tiny state is about 14% water due to all of its bays and inlets. Despite its petite size, RI is still one of the most densely populated of the 50 states. That means lots of small business owners, especially when it comes to the healthcare and tourism industries the state is known for.

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50 States of Incorporation: Oregon

Oregon is one of the most ecologically diverse states in America, with rolling forests, wind-swept coasts, and beautiful mountains. This natural beauty is one of the main drivers of tourism, one of the state’s largest industries. Oregon is also home to growing businesses in the tech, forestry, and manufacturing industries, and, according to Forbes, the state is poised to see some serious incorporate in Oregon growth. Today we’re answering the question of how to start a business in the Beaver State, and how to form an LLC or incorporate in Oregon.

What is needed to start a business in Oregon?

Oregon requires that all businesses within the state register with the Secretary of State’s Office. Now, if all you want to do is run a sole-proprietorship, you may only need to file for a DBA, or ‘Doing Business As’ name. This registration is meant to prevent fraud, and allows you to do business under a name other than your own. If you want to form a limited liability company or incorporate in Oregon, you’ll have to do a bit more paperwork.

How do you form an LLC or incorporate in Oregon?

Forming an LLC or incorporating both turn your business into its own, separate legal entity. That is good news for you because it means your company can effectively carry, and is responsible for, it’s own debts, so creditors cannot seize your personal assets to pay for the business’s debts. To form an LLC, you file your Articles of Organization with the Secretary of State and pay a $100 fee. This form will ask you for the business’s name, which must contain the words ‘Limited Liability Company,’ or the abbreviations ‘L.L.C.’ or ‘LLC.’ Along with your company’s name, you have to list its address, organizers, and the name and address of its registered agent.

If you’d like to incorporate in Oregon, you fill out your Articles of Incorporation, file them with the state, and pay a fee. Your corporation’s name has to include a designator like ‘incorporated’ or ‘corporation,’ and you will have to list the names and addresses of the incorporators, as well as the name and address of your registered agent. Corporations, however, are a bit more complicated to run, and you are required to name a board of directors, who will then help lead the business. You should also prepare corporate bylaws to guide the business’s development, and prepare minutes for any meeting at which a major business decision was made.

Does the state offer any support to small businesses in Oregon?

Yes! Oregon actually has a very handy online tool called Business Xpress meant to help out new small business owners. Using it, you can track down forms, find networking and training opportunities, and even start a business plan! The tool also has links to programs meant to support women and minority business owners in Oregon, so be sure to look around and see if there are any opportunities or grants you can use to boost your business.

Are you ready to start a business in Oregon? Have any questions about how to form an LLC or incorporate in Oregon? Give us a call at 1 (877) 692-6772 or leave a comment below!

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50 States of Incorporation: Oklahoma

incorporate in OklahomaWe’re all going to be OK… that is, today we’re going to be talking about how to form an LLC and incorporate in Oklahoma! Nicknamed the “Sooner State,” Oklahoma is famous for its Native American roots, agricultural products, and a solid stake in the aviation industry. The state is about 69,903 square miles large, making it the 20th largest state in the USA.  Its population comes in at about 3,850,868, making it the 28th most populous of the states.

Oklahoma’s biggest industries are farming, oil, and natural gas. If your small business is in one of those industries, doing business with the Okies may be the perfect place for you! Though, even if you’re not in one of those industries, your business will still benefit from the booming natural gas industry, as energy costs are 25% below the national average. According to the Forbes best states for business list, Oklahoma comes in at #14 of the 50 states, receiving that high ranking thanks to inexpensive business costs, regulatory environment, and the overall economic climate of the state.

Thumbtack.com also gave Oklahoma flying colors on the small business friendliness test. With an overall ‘B’ grade, Oklahoma scored high in areas concerning regulations, employment and hiring, tax code, licensing, and zoning.

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50 States of Incorporation: Ohio

incorporate in ohioNicknamed “The Heart of It All” our 50 states series heads to the Midwest today, as we learn what it means to form an LLC and incorporate in Ohio. Infamous in national elections for being a swing state and with Columbus as the state capital, Ohio’s largest revenue sectors are within the manufacturing and financial service industries. Kroger, Procter & Gamble, and Progressive are all brands that call the state home for their headquarters.

Forbes ranks Ohio as #29 as one of the best states for business, with high marks given to the quality of life the state provides despite the additional note that one of the biggest state woes is net migration. Overall ease and friendliness of starting a business in Ohio receives a C+ from Thumbtack.com, but in the regulation sector it grades on a “B” average in tax codes, health and safety, and employment.

If you’re ready to start your own business in The Buckeye State, keep these notes in mind before you form an LLC or incorporate in Ohio:

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50 States of Incorporation: North Dakota

North Dakota is easily one of America’s most intriguing states. It was fairly unaffected by the Great Recession, and has one of the lowest unemployment rates of any state. North Dakota is also the only state with a state-run bank, the Bank of North Dakota , and a state-run flour mill, the North Dakota Mill and Elevator, which is also the largest flour mill in the USA.  incorporate in North Dakota Both of these institutions are carryovers of the Nonpartisan League, a populist political party that did so well in North Dakota that it gave the state a three-party system before eventually merging with the Democrats. North Dakota is also the reason we have a National Park system – its natural beauty inspired Theodore Roosevelt to champion conservation.

North Dakota’s excellent economy makes it a prime state to start a business. So just what do you have to do to start a company in the state? And how do you form a limited liability company or incorporate in North Dakota?

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50 States of Incorporation: North Carolina

Incorporate in North CarolinaThis week in our 50 states series we’re on the road to incorporate in North Carolina, also known as the Tar Heel State. North Carolina is home to the company headquarters of Krispy Kreme Doughnuts and Pepsi-Cola and the Great Smoky Mountains National Park.

In the last 50 years or so, North Carolina has transitioned from an economy focused on tobacco, textiles, and furniture crafting, to an economy focused on engineering, energy, biotechnology, and finance sectors. With those transitions, the state has found great start-up success!

According to the Forbes Best States For Business list, North Carolina ranks at #4 of the 50 states to start a business in – right up in the top 5 states! This high ranking can be attributed to its similarly high rankings in labor supply, environment, and growth prospects. Thumbtack.com also gave the state high marks with a steady B+, with high grades in ease of starting a business, health and safety, employment and labor, zoning, and training/networking programs.

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50 States of Incorporation: New York

incorporate in new yorkWe’re Big Apple bound this week in our 50 states of incorporation series as we learn what it takes to form an LLC and incorporate in New York!

AOL, HBO, J.P. Morgan Chase, NBC, Time Warner – to list the sheer number of major corporations that call NYC home to their headquarters would undoubtedly be an entire paragraph (or two) unto itself. Forbes summed it up nicely in a piece ranking the state on the 50 best states for business list, stating that if New York were a country, the state’s $1.2 trillion dollar economy would be the 14th largest in the world after Spain.

Whether you’re working in finance, banking, or fashion, seemingly every type of industry has a place in New York. There are plenty of VC investment opportunities to be found and lots of resources within the state as well. But New York also suffers from high costs in areas concerning taxes, living, and healthcare. Thumbtack.com ranked the state with a D+ in overall friendliness and an F for ease in starting a business last year – ouch.

However, the old adage does ring true that if you can make in New York, you can make it anywhere. If you think you and your business are ready to take on the concrete jungle and incorporate in New York, read on for more information on how to get started!

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50 States of Incorporation: New Mexico

This week we’re covering the Land of Enchantment – New Mexico! Though admitted to the union in 1912, New Mexico has, for centuries, been home to the native Navajo, Pueblo, and Apache people. With the fourth-largest native population in the United States, New Mexico continues to be an important center of Native American culture. This culture, along with New Mexico’s stunning natural beauty, are the two of the main drivers of one the state’s biggest industries – tourism.

Along with tourism, New Mexico has a rich deposit of fossil fuel and natural gas, and is home to multiple military bases. In fact, federal spending is one of the biggest sources of revenue for New Mexico. The government of New Mexico is always looking for ways to help small businesses grow, and there are loads of tax incentives available to entrepreneurs in the state! But what does it take to start a small business there? How do you form an LLC or incorporate in New Mexico? And are there any special rules you should be aware of?Incorporate in New Mexico

What is needed to start your small business in New Mexico?

Anyone that does business in New Mexico has to register with the New Mexico Taxation and Revenue Department, and be issued a CRS Identification number. Your CRS number is used to collect and pay tax on gross receipts. In addition to registering, all new small businesses should apply for a ‘Doing Business As’ name with the Secretary of State’s office so that they can advertise, collect checks, and open a bank account under their business’s name. If you’d like, we are happy to run a free DBA name search on your behalf!

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