You must first register your firm with the Louisiana Secretary of State in order to create a S corporation there. In order to choose S corporation status, you must submit Form 2553 to the Internal Revenue Service (IRS). Your company will be taxed as a S corporation once the IRS has granted IRS approval of your election. How Much Does a Tax Identification Number Cost in Louisiana? An Employer Identification Number (EIN), commonly referred to as a tax ID number, is a special nine-digit number that distinguishes your company for tax purposes. If you employ people, conduct business as a partnership or corporation, or are subject to certain tax requirements, you must have an EIN.
If you apply directly with the IRS, obtaining an EIN in Louisiana is free. However, for a cost, certain businesses might offer to obtain an EIN for you. It’s crucial to remember that these businesses may impose arbitrary fees and have no connection to the IRS. How Much Does it Cost in Louisiana to File a DBA? DBAs, or “doing business as,” are legal designations that permit a company to conduct operations under a name other than its registered name. For $75, you can submit a DBA to the Secretary of State’s office in Louisiana.
What Are the Steps to Form a Sole Proprietorship in Louisiana? A single individual owns and runs a sole proprietorship, a straightforward and common business structure. In order to launch a sole proprietorship in Louisiana, you must first select a company name and determine whether it is already taken. The next step is to file a business registration with the Louisiana Secretary of State and secure any required licenses or permits.
Why LegalZoom Should Not Be Used? Although using LegalZoom may seem like a simple and inexpensive option to launch a business, it’s necessary to exercise caution. LegalZoom is unable to offer legal counsel or representation because it is not a law practice.
Additionally, they frequently impose additional fees and charges for their services, which add up quickly. Before utilizing LegalZoom or any other online legal service, it is best to speak with a licensed attorney or accountant.
In conclusion, starting and running a business in Louisiana takes thorough planning as well as taking into account the costs and regulatory requirements. You can make sure that your firm is prepared for success by being aware of the procedure and receiving expert guidance as needed.
LegalZoom was admitted to public trading in 2021 and debuted on the NASDAQ stock exchange.