During the registration process you may have heard terms such as "foreign corporation", "foreign corporation" or "qualification", depending on the type of structure that is formed. The term "foreign", however, does not apply to other countries, but rather refers to your country. This means that if your company is set up as a corporation or a limited liability company in one state but work in another state, the state of the work is considered a "foreign state".
This is an important feature of the business of conservation. To deal with this issue, let's deal with the concept of 'qualification as a foreign entity ", using the following scenario: Jane Doe created a limited liability company under the name XYZ LLC in Delaware, but business is conducted exclusively in Florida. In this case, XYZ with the & # 39 is a domestic company in Delaware and possibly a foreign company in the State of Florida.
Why feed a foreign individual?
There are several situations in which the business owner may be required to submit this type of filing, including:
- Maintaining bricks or mortar
- Employment of staff
- Making a business that requires special licensing
- Deciding to file a fictitious name, or "Doing Business as a" (DBA) to another state
- real estate closing
There are also cases where the submission of an application as a foreign sub & # 39 object that may not be needed: these include:
- telephone sales
- Internet business that sells products to people in other states
- National advertising campaigns
- Sales through independent contractors
If you meet any of the criteria for applying for a foreign company, or you are told to register as a foreign company, there is a process to apply.
To qualify for your business, you'll pass a similar process to the registration or formation LLC. In most states, the document seems to be called certificate authorities or foreign registration. As with any government request, there is a tax on the supply, which can range from 25 to 750 dollars. In most states, there are additional documents that must accompany the certificate of authority or foreign registration. The documents consist of either a certificate of good standing and / or certified copy of the charter or certificate of incorporation state. Certificate of good status shows that your business has a good reputation and there are no outstanding payments.
The registered agent is required when applying as a foreign person. The majority of registered agents companies provide their services in any state, so you can keep the same service registered agent.
Once you provide all of your documents, certificate credentials, certified copy of, and / or certificate of equity and any other supporting documentation can be transferred to the State. Average processing time Var & # 39; iruetstsa from one to three weeks.
As well as other requirements for registration and registration in the company, in some states there are other claims of foreign corporations and LLC. Arizona, Georgia, Pennsylvania, Nebraska and New York require that the business advertised or placed in local newspapers that your company currently provides services and conducts business in the state. Many states also require that foreign companies and the Company filed an annual report. In some states you will need to submit reports for two-year terms. Of course, it will supply board. To help businesses in this requirement, many states have online portals for the filing of annual reports.
So now that you understand better "qualification", be sure to perform due diligence. Refer to any state in which you plan to do business and study their laws. A good starting point for research will always be the Secretary of State's office.