Incorporate In North Dakota

North Dakota's economy is booming as a result of a recent discovery of natural gas deposits. North Dakota has the lowest unemployment rate of any state in the US.

The “Peace Garden State” is the only state with a state-owned bank. Fargo is home to Microsoft’s second largest campus.

Benefits of incorporating in North Dakota:

Protection of personal assets

When incorporating in the North Dakota, foreign entrepreneurs should feel confident knowing that their personal assets are well protected. Corporations and limited liability companies separate the assets and liabilities of companies from the personal assets of the business owner.

Ability to open bank account

Forming a company is the first step for a non US resident to open a bank account. A US bank account gives businesses access to a debit card, and the potential to open a merchant service account. Internet commerce is made much easier with a US bank account because companies like PayPal, Amazon and EBay considered you more qualified as a vendor.

Enhanced credibility

Whether starting a new business or incorporating an existing one, incorporation makes a business appear more credible to potential customers, suppliers and investors. You also have the security of operating under US law.

Your corporate name can boost your brand

North Dakota requires that C corps and LLCs not have a name that is the same or could be confused with a business already in existence. To make sure your business name is eligible Inc. Plan can help you choose a unique C corp or LLC name. A distinctive corporate name enhances your company’s reputation and also helps protect the identity of your brand.

Tax flexibility and benefits

North Dakota companies are either subject to tax based on the net revenue of a business or the personal income of a business owner. The kind of business entity, LLC or C corp, determines the nature of the charges a firm will be subject to.

Residency Requirements

North Dakota does not have any residency requirements. Owners and directors do not need to live in state to legally operate a North Dakota company. Before your firm is legally eligible to operate make sure you possess all the required business licenses, permits, and tax registrations. Inc. Plan can help you stay in compliance with North Dakota state law.

Other incorporating requirements

The North Dakota law considers both C corps and LLCs eligible to do business if they have at least one director/member. North Dakota does not require the names and addresses of members and owners to appear filing documents with the state.

Requirements for forming an LLC in North Dakota:

When forming a Limited Liability Company certain steps must be taken to keep the business in compliance on an ongoing basis.

Name requirements for LLCs

LLC names are allowed to end with the designations “Limited Liability Company”, “Limited Company” or the abbreviations “LC.” ,“LLC” and “L.L.C.”. The word “Bank” or any variation of it needs special approval to be included in a company’s name. The name must be unique and distinctive from the names of any other business.

LLC filing requirements

Entrepreneurs looking to do business in North Dakota must file a certificate of formation with the state. North Dakota-based LLCs are required to submit an annual report due before November 16th.

Required information for the Article of Organization

The Articles of Organization must include the name and address of a registered agent who resides in North Dakota and who is available to manage legal and tax business documentation. For more help with the initial corporate filing or qualified registered agent services feel free to contact Inc. Plan (USA).

LLC taxes and fees

North Dakota LLCs are assessed taxes based on their members’ personal income. LLCs can elect to be taxed as partnerships or C-corps.

Requirements for forming a C corporation in North Dakota:

Each of the 50 American states has its requirements for incorporating. The essential requirements for C corporations established in North Dakota are as follow:

Name requirements for C corporations

Businesses in North Dakota can include the terms “Company”, “Corporation”, “Incorporated” or “Limited”, along with their abbreviations in the name of a company. The word “Bank” or any variation of it needs special approval from the relevant commission. Corporations must have names that are unique and distinctive from the names of any other business.

Filing requirements in North Dakota

Entrepreneurs looking to start a business in North Dakota must file articles of incorporation with the state. Corporations must file an annual report which is due by May 15th.

Required information for the Article of Incorporation

The Articles of Incorporation are required to list a company’s authorized shares and their assigned par value. Businesses must also include the name and address of a registered agent with a physical North Dakota address. Any increase in the share stock can affect the initial filing fees. Inc. Plan (USA) can help you with the necessary filings and also with qualified registered agent service.

Taxes and fees requirements

The state of North Dakota imposes a corporate income tax for all C corps. Tax rates range between 1.68% and 5.15% based on the net income generated from transactions completed in North Dakota. C Corps with revenues which derive solely from sales can qualify to pay a lower gross receipts tax if the total sales is less than $100,000.

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