General Guide to Company Incorporation in Mississippi
Updated on Monday 05th March 2018
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The state of Mississippi is bordered by the Gulf of Mexico, an important trading point which allows for various businesses to develop. The Magnolia State, as it is known, is the 32nd most populated state in USA and a representative destination for a wide range of activities established by locals and foreigners. We have prepared a general guide to company incorporation in Mississippi which addresses to investors from abroad interested in opening a business. Our company formation specialists in USA can offer in-depth information about how to establish a company in Mississippi.
How to form an LLC in Mississippi
The company formation starts with a name verification and documents submission to the Mississippi Secretary of State. A limited liability company is the easiest form of business which can be established in a fast manner if all the requirements are respected. The Articles of Association are the company’s important documents which must contain details about the shareholders, their nationality, the activities of the future company, the board of managers, the business address, and the registered agent. We mention that an LLC in Mississippi must have a registered agent with residency in this state. This can be an individual or a company which will act on behalf of the new company in Mississippi. If you want to start a business in USA and especially in Mississippi, we can offer the needed support at the time of registration and we can also represent your activities in this state.
Apply for EIN in Mississippi
Each company needs an Employment Identification Number (EIN) or the federal tax number which proves that the business is registered with the tax authorities. The EIN is issued by the Internal Service Revenue (IRS) through the local offices in Mississippi as soon as the formalities are fulfilled, and the company’s documents provided.
The sales tax in Mississippi
The sales tax rate in Mississippi is set at 7% and, among the exemptions in taxation regime, we mention that in this state there is no city tax, country sale tax or a special rate imposed. Please bear in mind that local taxes might be imposed, among which the use tax applied for personal properties in Mississippi. If you want to open a company in USA, particularly in Mississippi, we suggest you to ask for information about the tax structure of the state.
An accounting firm for your business
Companies in Mississippi which deal with financial transactions must have an accounting department or consider the external services of an accounting firm in the state. Bookkeeping, payroll, tax advice, tax minimization, financial annual statements are among the accounting services such firm can provide for your business in Mississippi.
Workforce in Mississippi
Foreigners can choose the skilled labor force in Mississippi and can consider the experienced workers found on the market. The workforce in Mississippi is highly educated and can be found in domains like finance, healthcare, IT, engineering, energy, tourism or real estate.
Virtual office services in Mississippi
Entrepreneurs who want to set up their activities in Mississippi can benefit from virtual office services if they do not want to establish a traditional office. Besides the low costs of such services, foreigners can benefit from a notable business address, a dedicated business phone number, call forwarding, ingoing and outgoing faxes, conference room for business meetings and a private number in the state of Mississippi. You are invited to ask our team of advisors for more information about the virtual office services in Mississippi.
Economy overview in Mississippi
The import and export activities in Mississippi are extremely developed as the state has access to the insular states found in the Gulf of Mexico but not limited to these. The state is known for the massive cotton production which developed before the Civil War. Besides the agriculture, the tourism sector sustains the economy of Mississippi, but the state is also home to large automotive brands. In 2005, the authorities in Mississippi adopted an important legislation which oversees the economic growth by sustaining the employment, the manufacturing sector, the research, and development area with the help of foreign investments.
If you are interested in USA company formation and especially in the state of Mississippi, please feel free to contact our team of specialists in company formation in USA for complete support and information.