A US Business Registration is an important step in your business’s development. It gives your business credibility and a name. It also opens up the possibility of accessing capital sources. Besides, register a company in the US provides various taxation benefits.
First and foremost, choose the type of legal entity you wish to establish. You can choose to register an S-Corp or C-Corp. The tax rate for a company organized as an S-Corp is generally lower than that of a C-Corp.
Once you have chosen a legal entity, the next step will be to choose the state where the company will be established. Each state has its own regulations and rules. There are some common requirements that you should be aware of. You must ensure that the name you choose is not already in use.
You may need to pay an additional fee depending on the state you choose. Also, your registration process may take longer. To cut down on your registration time, you can opt for rush processing. Rush processing will allow you to receive your documents in two to three business days.
Before registering a business in the US, you will need to get a United States bank account. This account allows you international transactions at a fair price. You can also reduce your income taxes. It can also help you keep track of the financial health in your company.
Next, you need to obtain an Employer Identification Number (EIN). An EIN is a nine digit sequence that can be used to identify a business in tax purposes. You must provide your personal data, as well details about the founders of the company and directors.
EIN can either be mailed to the IRS or faxed. After obtaining your EIN, you will be able to open a bank account. While a US bank account is not mandatory, it is highly recommended. A separate business bank account is extremely beneficial as it allows you record the financial health of the business.
If you are a citizen of the United States, your home address is your legal address. But if you are a foreigner, you must obtain a US phone number and a local address. Additionally, you may need a visa to operate in the U.S. As a foreigner, you should check out your tax liability before establishing a company in the United States.
A legal address is required for the registration of a business in America. This address will be used for all correspondence, letters, and other important business documents. It is also where you file taxes.
After completing your registration you can use your Employer identification number to open a US banking account. In the event that your business is registered as a C-Corp, you can choose to receive your tax information from the IRS through your business bank account.
