How to set up a business in the United States? It is surprisingly easy to establish a company in the United States. There is still this myth though that you have to have a Delaware Corporation. My advice is you establish a company in the State where you are actually planning to do business. For example, let’s say you are planning to live and work in California then you should establish your company in California. Many years ago, it may have been beneficial to have a Delaware Corporation because the law was very clear, you know exactly what you are dealing with. However now-a-days, it is really more burdensome than helpful. For example for a company in Delaware, you need to have an address in Delaware, you need to have a so called Registered Agent in Delaware and I will come back to that. In addition, let’s say someone sues you and I am sure you heard about all these lawsuits in United States, if you have a company in Delaware well they can sue in Delaware while you may actually doing business in California.
To establish a company is a matter of the individual State. So the rules are different in all of the fifty States in the United States. Let’s return to the example of California. Lets say you want to establish your company in California. The two basic choices for companies are a Limited Liability Company, a so called LLC or a Corporation. The basic differences are as follows:
A Limited Liability Company doesn’t have shares. It has members, actual members who act on behalf of the company and own a part of it. A Limited Liability Company has a big advantage, that is “Taxes”. It only pays taxes once. The taxes are paid through the tax returns of the individual members.
The other major choice is a Corporation abbreviated Inc. Inc. A Corporation can hand out shares so, it can be owned by many many many people. However, a Corporation basically pays taxes twice. First it pays taxes on the corporate income and then it pays taxes on all the distributions and salaries that it pays out.
So, you have two basic choices a Limited Liability Company or a Corporation. You need more to have a properly functioning company. Once you have registered the company, you need to register it with the Internal Revenue Service. It’s called a Federal Employer Identification Number. It is very easy to apply for a Federal Employer Identification Number, which is the tax number or the tax ID for the business. Just go the website http://www.irs.gov, gov like Government and you will see the application forms. You can actually apply on-line and get the number immediately.
There is something else you need, you need as I have already mentioned you need a Registered Agent. A Registered Agent is a person who is authorized to receive official mail usually documentation relating to lawsuits or any notices from the individual State, where you registered your company. You have to have a person who is a resident of the State. If you don’t have anybody, you can hire a company to do it for you. It’s a Registered Agent Service, there are many Corporation Services Company that provide those services. And you need an address for your company. If you don’t have an office set up yet, well, you can sign up for one of those so called Corporate Presence Programs with an Executive Office Suite. One example is Regus it’s http://www.regus.com regus is regus.com. They provide a Corporate Presence Program at a very low price. It will probably cost you around $150 a month and you can receive mail and possibly also telephone calls at a particular location. In this case we pick the example California.
In order to have a properly functioning company, you should also have a so called Corporate Book and Seal. The Corporate Book is basically a large binder, where you can keep all corporate documents such as the Federal Employer Identification Number, the State Registration, and any other documents such as Corporate Records, they are generally called Minutes, like the minute – sixty minutes to an hour, Minutes of the company. You can all keep that in this Corporate Book. Sometimes, documents require a Seal, it’s sort of like a seal, that you put on documents. You usually receive the Corporate Book and Seal together from one of those Corporate Service Companies that I mentioned.
For visa purposes, it is also very important that you have a Business Plan for your company so, to review it, you have to establish your company. My recommendation is establish you company in the individual State where you want to do business, you have to have an address, if you are not there physically in the United States, I recommend a so called Corporate Presence Program at one of the Executive Office Suites and there are many more more not just Regus, you will find dozens of them everywhere in the United States. You need a Registered Agent, you need a so called Corporate Book and you need a Corporate Seal, all of that can be easily ordered through the internet, if you just put the search terms into Google or yahoo, you will find many service providers who can provide all of these services for you. If you want to use your company for visa purposes such as an E-2 visa, you also need a Business Plan. A Business Plan should be comprehensive. It should have at least 20-30 pages. It should have photographs and it should have charts as well describing the financial goals of the company. There are companies that offer services such as writing a Business Plan for you or your Immigration Attorney may do it for you. If you are planning to use a company for visa purposes to obtaining an L or an E Visa, you probably will need the advice of an Immigration Attorney.
VP Shoes offers great shoe designs and brands for the whole family, from Ugg Boots (including Ugg Classic Short) to New Balance, from North Face Denali to Women's Dansko Shoes. VP Shoes offers a fantastic reward program to help you save even more on your shoes.