General Guide to Company Incorporation in Missouri
Updated on Tuesday 20th February 2018
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If you are planning to open a business in the USA, then Missouri can be the proper place to start. Known as the “Show me state”, Missouri is the 18th most populous American state and home to many large corporations who benefit from the optimal business climate developed here. We have prepared a general guide to company incorporation in Missouri which can help entrepreneurs observe the main steps of starting a business. Likewise, our company formation specialists in USA can offer in-depth assistance and information for all investors who want to explore the opportunities in this state and who want to start a company in USA.
Setting up an LLC in Missouri
Limited liability companies can be easily set up in Missouri, as there are just a few requirements to bear in mind at the time of registration. The process starts with the Business Division of the Missouri Secretary of State, where a name verification is mandatory before making any movement. The Articles of Association are the necessary documents which must be submitted with the authority in charge, keeping in mind that these must comprise information about the owners, the activities, the business address and the name of the registered agent. The latter condition is mandatory, as your LLC in Missouri cannot operate without a registered agent who can be a natural person in charge of the company’s documents or another company with the same responsibilities.
Consider an operating agreement for a company in Missouri
Most business forms and particularly an LLC in Missouri can be subject to an operating agreement, a legal document which comprises details about the responsibilities in the company, about the owners, the right for voting, the registered capital, and the dissolution if a settled date is involved. If you want to know more details in this matter, our company incorporation agents in USA are at your disposal. Likewise, our advisors can act as registered agents for your business in Missouri.
Apply for EIN in Missouri
Companies with activities in USA, including Missouri, are considered taxpayers. This involves an application for EIN (Employer Identification Number) or simply the federal tax ID which is issued by the Internal Revenue Services through the local office in Missouri. Identifying your business on the American market may start with a verification of the EIN, in order to see if it respects the tax-related matters. A foreign investor who wants to open a company in USA, and especially in Missouri, must reflect on the tax compliance in this state.
Taxes in Missouri
The sales tax in Missouri is set at a rate of 4.225%, but local taxes may be imposed in different cities besides this important fee. As for the income tax in Missouri, this is issued in three brackets, depending on the taxable profits, and it ranges between 5% and 6%. It is good to know that the estate tax fillings are no longer required in Missouri.
Special licenses and permits in Missouri
According to the type of business you want to establish in Missouri, particular licenses and permits are necessary. Among these, we mention the following:
• construction license;
• real estate license;
• financial license;
• health licenses.
If you want to know more aspects about the special licenses and permits in Missouri, our team of consultants can handle any requests in this sense.
Opening a bank account in Missouri
Starting a company in USA is subject to different financial operations and varied capitals involved. As a foreign business person, it is recommended to open a bank account and to separate the personal assets from the ones of the company. You may choose any kind of bank in Missouri and you should bear in mind that such institutions will ask for the company’s documents or for the EIN, in order to verify your business and to set up a business bank account.
The economy of Missouri
Among the developed sectors in Missouri, the agriculture represents the main engine of the economy of this state, where rice and cotton harvests are widely used not only internally but also in form of finished products for export purposes. Missouri was rapidly industrialized starting with the 19th century, the manufacturing and the transportation having a broad growth compared to other states. Jefferson City is the capital of Missouri and a representative business center for local and foreign investors. The same attributes are available for cities like Saint Louis, Springfield, Columbia, Kansas City, or Saint Charles.
If you direct your attention to Missouri company formation, we suggest you contact our team of experts in company incorporation in USA.