Michael Watson serves as Mississippi’s current secretary of state. He was chosen to serve on January 14, 2020, after being elected in November 2019. Watson formerly held the position of State Senator for Mississippi’s District 51 before becoming Secretary of State.
As secretary of state, Watson is in charge of administering the state’s archives and records, keeping up with its corporate records, and supervising its elections. Additionally, he oversees the fairness and accuracy of all elections as the state’s chief elections officer.
You must submit a Certificate of Formation to the Mississippi Secretary of State’s office if you want to launch a business there. This document formally registers your company with the state and includes crucial details including your company’s name and address, the kind of business you’re doing, and the owners’ names and addresses.
You have two options for submitting a Certificate of Formation: online through the Secretary of State’s website, or by mailing a paper form. For corporations and LLCs, the filing fee for a Certificate of Formation is $50.
One crucial choice you will have to make when beginning a business is whether to set up an LLC or run things as a single proprietorship. The ideal solution for you will depend on your particular circumstances. Both options have advantages and disadvantages.
With LLCs, owners are protected from personal liability, which means they are not responsible for the debts and obligations of the company. They can also provide tax advantages and offer a more formal structure. Contrarily, sole proprietorships give greater operational and management flexibility while being simpler and less expensive to set up.
Some businesses in Mississippi could need a license or permit to operate. Depending on the sort of business and where it is located, different regulations apply. For instance, in addition to any state licenses or permissions, businesses in Jackson might also need a city business license. To ensure compliance, it’s critical to investigate the precise rules that apply to your company.
Finally, depending on how you choose to register, the time it takes to form an LLC in Mississippi can differ. Within 24 hours after submitting your application online, your LLC will be approved. The approval process for mail-in applications can take up to ten business days.
Michael Watson, who is currently Mississippi’s secretary of state, is in charge of monitoring the state’s elections and commercial records. In Mississippi, you must file a Certificate of Formation with the Secretary of State’s office and may also require a business license or permission if you are starting a new enterprise. The ideal business structure for you will depend on your unique situation, and depending on how you file, it may take longer or shorter to establish an LLC in Mississippi.