One of the most well-liked states in which to launch a business is Washington State. It is renowned for its strong economy, well-educated people, and welcoming business environment. You might be wondering how much it will cost and what the procedure comprises if you intend to create a corporation in Washington State. These queries will be addressed in this article, along with further details on related subjects.
The form of organization, the quantity of shareholders, and the services you need all affect how much it will cost to register a business in Washington State. The first filing cost for a Washington State corporation is $180 as of 2021. However, the cost rises to $50 for 24-hour service and $100 for same-day service if you require urgent treatment. Additionally, there are additional costs if you want to submit a paper application or reserve a business name.
Articles of Incorporation must be submitted to the Secretary of State in order to register a corporation in Washington State. The name, purpose, number of shares, registered agent, and initial board of directors of the corporation should all be included in the articles of incorporation. Additionally, you must get a Unique Business Identifier (UBI) number from the Washington State Department of Revenue (DOR), which is a nine-digit number.
You must register your firm with the DOR in order to obtain a WA UBI number. This can be done by mail or online. You will need to supply information during the registration process, including your company’s name, address, kind, and ownership structure. Your UBI number, which you’ll need to supply when registering your corporation with the Secretary of State, will be provided to you once you’ve registered.
The Washington State Department of Revenue issues UBI numbers as Unique Business Identifier numbers. Your company is identified by this nine-digit number for tax purposes. A UBI number is required to file tax returns, register your firm with the state, and apply for licenses and permits. Additionally, it is necessary for Washington State corporate registration.
In Washington State, you must file an amendment with the Secretary of State if you want to add an owner (sometimes referred to as a member) to an LLC. The name of the LLC, the new member’s name and address, and the modification’s effective date should all be included in the amendment. In order to reflect the new ownership structure, your Operating Agreement must also be updated.
The Secretary of State will remind you if you don’t submit an annual report for your corporation in Washington State. Your corporation will be designated as “delinquent” and lose its good standing status if you continue to fail to file the report. This implies that unless you submit the Annual Report and settle any outstanding costs, you won’t be allowed to submit any revisions or changes to your corporation. Additionally, your business could face fines and penalties.
In conclusion, filing Articles of Incorporation, acquiring a UBI number, and paying the requisite fees are all necessary steps in the registration of a corporation in the state of Washington. The sort of corporation you want to form and the services you need will determine how much it will cost to register it in Washington State. By registering your firm with the Washington State Department of Revenue, you can obtain a UBI number. You risk fines and losing your good standing if you fail to submit an annual report for your corporation. If you require additional help with forming a corporation in Washington State or other connected issues, you might think about speaking with a business lawyer or other expert service provider.