There are various advantages to incorporating a business in Georgia, such as limited liability protection and tax advantages. However, it’s crucial to be aware of the prices and regulations before beginning the process. This article will give you with answers to frequently asked questions regarding incorporating in Georgia as well as a starting point.
No, in Georgia, a Limited Liability Company (LLC) is not a corporation. Although LLCs provide a level of liability protection comparable to that provided by corporations, they are taxed and governed differently. LLCs can choose to be taxed as a corporation or partnership and have a more flexible management structure.
Articles of Incorporation must be filed with the Georgia Secretary of State in order to form a corporation in Georgia. The name of the company, the name and address of the registered agent, and the total number of authorized shares must all be listed in the articles. Articles of incorporation require a $100 filing fee. The corporation must also choose a registered agent to receive legal notices and paperwork on its behalf.
You must apply for a business license from the city or county where the company will conduct business after the articles are filed. A company license might cost anywhere from $50 and $400, depending on the location.
A Employer Identification Number (EIN) from the Internal Revenue Service (IRS) is furthermore required. To open a business bank account, recruit staff, and file taxes, you need an EIN. The IRS website can be used to apply for an EIN, which is free of charge.
Depending on the kind of business and the legal services needed, incorporation in Georgia can cost a variety of amounts. The cost to file articles of incorporation is $100, and the annual cost to use a registered agent can range from $50 to $300. The price might range from $500 to $2,000 or more if you decide to hire an attorney to help you with the procedure.
In Georgia, forming an LLC costs about the same as incorporating. The cost to file articles of organization is $100, and the annual cost to use a registered agent can range from $50 to $300. The price of hiring a lawyer might run from $500 to $2,000 or more.
Incorporating in Georgia has a number of advantages, but it’s important to comprehend the expenses and regulations. Consider seeking legal or other professional advice before beginning the procedure to make sure all legal and tax requirements are met. You can safeguard your company and put it on the road to long-term success by taking the time to incorporate it correctly.
You are not needed to publish the incorporation in a newspaper after submitting your Articles of Incorporation to the Georgia Secretary of State. However, if you want to issue a notice of incorporation, you can do so in the county where your company is located in a newspaper with wide readership. Although it is not required by law, some companies opt to do so for informational reasons.