ATTRACT.


Conduct Business in Another US State or Country with a Foreign Entity

 

 What are the requirements / steps involved in setup? 

 

  • The home state business entity must be in good standing or be brought back to good standing to start the foreign entity incorporation process
  • A good standing certificate or the certified copies are obtained from the home state secretary of state to ensure the company is legally registered
  • A registered agent address is required, (P.O. Box not acceptable). A legally registered entity with the secretary of state or a legally registered voter / resident of the state can serve a registered agent
  • Articles of incorporation or organization are filed with a copy of a certificate of good standing to form the foreign entity
 

Is a unique employer identification number required for a foreign entity?

 

The same employer identification number is used to open a bank account and file taxes in a foreign state where the business will be transacted.​
 
Is a new license required in the foreign state to transact business?
 
New licenses are applied for according to the state and county requirements.
 
Can a different business name be used? 
 
It is an extension of the business and thus, same name must be used.​
 
What happens if the business name is not available?
 
An assumed name is filed along in lieu of the business name or consent is acquired from the business or person using the name.
 
What are the requirements to maintain a foreign entity? 
 
Each year an annual report or the franchise taxes are filed by the due date to keep an out of state entity active.  ​
 

 

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