General Guide to Company Incorporation in Connecticut
Updated on Thursday 14th December 2017
Rate this article 1 reviewsbased on
Limited liability companies in Connecticut are popular business forms which can be incorporated with the Connecticut Secretary of the State, the Business Division. For a suitable understanding of how companies can be registered in this state, we suggest you read the general guide to company incorporation in Connecticut. Before opening a business in USA, one should observe the obligations and conditions in this field, mentioning that our company formation agents in USA can offer complete support for both local and foreign entrepreneurs interested in enlarging their activities in USA, and particularly in Connecticut.
Types of LLCs in Connecticut
LLCs in Connecticut can take varied forms like corporations, sole proprietorships, C Corporations or S Corporations. Depending on the type of business, certain taxes are imposed or not. We suggest you ask for information about each type of company, in order to choose according to your needs. Our consultants are at your disposal for support and guidelines.
Conditions to open an LLC in Connecticut
An LLC in Connecticut can be registered without the minimum share capital requirement. The Articles of Association of an LLC must comprise details about the owners, the business name, the type of management, the purpose of the business, the name of the appointed agent and their signatures. When submitting the documents, please consider that a fee of about $120 is necessary to be paid. One important condition for setting up the company is naming a registered agent with residency in Connecticut who is in charge of accepting legal documents on behalf of the enterprise he/she represents. This can be whether an individual or another business entity in Connecticut.
Obtaining the Employer Identification Number
The EIN or the Employer Identification Number represents the tax ID number of a company which is necessary for tax purposes in Connecticut. Once the company’s documents and the business activity have been accepted, you should apply with the Internal Revenue Service (IRS) in order to receive the EIN.
The corporation business tax in Connecticut
Connecticut imposes the corporate business tax which is set at a 7,5% rate for C corporations, the business entities fo which the revenues are levied in a separate manner from its proprietors. As for the LLCs in Connecticut, these are not levied with the corporate business tax and the profits distributed to the shareholders are subject to state and federal taxes.
Opening a bank account for your firm in Connecticut
If your company has been accepted and registered in Connecticut, the next step is to open a bank account for future financial transactions among many others. After a simple verification of the company’s documents, one can analyze the bank’s business packages that suit most the company. Besides the business bank card, the beneficiary of the account may select varied banking services, in order to proceed with the online transactions.
Business licenses in Connecticut
Opening a company in USA, and particularly in Connecticut, may require applying for special licenses and permits. Health, construction, finance, gambling, trading, agriculture, retail, consulting, land use, signage, fishing, and hunting are only a few of the domains in which a business license or permit are necessary. These are issued by the Connecticut Business License & Business Permit institution. For a proper understanding of the requirements in this matter, we suggest you address your concerns to our USA company formation agents.
Hiring staff for your company in Connecticut
If you want to start a business in USA, and you need staff, you may choose the skilled local workforce. In most cases, the recruitment agencies, online and offline, are strongly recommended, as they have a wide database of potential candidates for your company. For tax purposes and social contributions, one must register the employees with the Connecticut Department of Labor.
Advantages of opening a business in Connecticut
Among the reasons why you should start a business in USA, and particularly in Connecticut, is the fast incorporation process. The manufacturing, mining, agriculture, real estate, tourism, and retail are among important fields that successfully sustain the overall economy in Connecticut. Cities like New Haven, Norwalk, Waterbury, Hartford, New Britain or Bridgeport are suitable destinations for business.
For additional information and guidance about how to register a company in USA, including Connecticut, you are invited to contact our team of agents in company formation in America.