HOW TO SET UP A COMPANY IN THE USA
In a rating
Ease of Doing Business 2015 the United
States take the fourth seat in the world.
Business registration in the United
States , according to the year 2015, consists
of six procedures for processing of which takes at average about five days.
This is considerably larger in comparison with the countries heading the list
in the ranking. Nevertheless the USA leads the sub-ratings
В«Investor Protection and Credit Provision.
The most profitable industries in
the USA, according to estimates of financial company Sageworks are accounting
profession, legal services, rent and plant leasing, oil-and-gas branch,
medicine (in particular stomatological services, outpatient maintenance), as
well as funeral services. In the United States there are a number of
approachable programs by provision of assistance to burgeoning entrepreneurs.
These programs are designed for eco-friendly business, home-based business,
Internet business, self-employment, as well as on businesses that provide the
persons belonging to national minorities (in particular Native Americans),
veterans and women.
Registration procedure
In the USA there is no the national
institutional body which is engaged business registration. Each state has its
own laws relating to the registration and the conduct of business, in each
particular state the registration is carried out specially made by office
department the Secretary of State. Register the business it is necessary in the
state where it will be carried out its activities.
In the USA there is no
need officially to register the individual enterprise. To other types of
entrepreneurial business are applied the special conditions of registration
(depends on staff). In particular this applies to corporations, non-profit
organizations, limited companies and partnerships. The registration procedure
begins with the moment filing of pleadings to the Secretary of State wherein is
pointed out the company name and registered address whereby all official
correspondence will be sent (you can use your home address or to open a virtual
office).
The name of the company should
not duplicate the name of an existing company in the state. If for business name
is used owner's real name it does not require any formal registration. If the
company name will be differ from the name then the name must register with
local authorities by filling out a special form known as DBA (doing business
as). The name of the company is considered to be fictitious if it contains
other words such as Company, &Son, &Associates, etc.
If to generalize features
of business registration in each state then the registration of firm in the USA
- Official filing of application to the secretary of relevant state
- Registration of a company in tax office IRS with the purpose of reception the registered number of taxpayers
- Opening
of an account in bank of the
Forms of business
Sole proprietorship. The
individual enterprise is the base organizational-legal form of business in the USA . The
founder individually owns the company and bears the full responsibility for
property and obligations of the company. Expenses are minimal, spending on
registration are limited by the reception of necessary licenses or permits
(which list depends on branch and state). Private entrepreneur pays income tax,
as a self-employed worker, estimated tax, social security taxes and Medicare
program, a tax of unemployment payments and the excise tax (if
necessary).
Partnership.
Under the partnership are expected participation two and more persons. Each
partner contributes in all respects of business by money, property, labor or
skills. In turn, each of the partners assumes get revenue share or percentage
of losses from business activities. Most often in partnership co-operates
highly-skilled professionals in the field of legal and financial services,
medicine, etc.
In the USA
General
Partnerships. Profit, responsibility and management duties are shared
equally between partners.
Limited Partnerships. Partners
answer for obligations of the partnership only to the extent of its
contribution. Such partnerships are the most attractive to investors of
short-term projects.
Joint
Venture. Joint venture companies operate as partnerships, but only for
a limited period of time or for a single project.
Partnerships
are obliged to file an annual tax declaration for the income of accounting
after employment taxes (Social Security taxes and Medicare program, as well as
the tax deductions from salary, taxes in fund for unemployment payments).
Corporation. The
corporation is a more complex structure and is generally suitable for bigger,
strong companies with a large staff of employees. The corporation is a separate
legal entity owned by shareholders. This means that the corporation and not the
shareholders, has legal responsibility for the actions and debts of the
enterprise.
Corporations
are obliged to pay federal, national, and in some cases the local taxes. The
majority of the enterprises should be registered in IRS, the national and local
tax departments and receive tax identification number or permit. The income
received by corporation is bared tax in an instant of its reception, and then
the dividends divided between shareholders are bared tax in an instant of their
distribution.
Limited Liability Company, LLC. A
limited liability company is the most effective in terms business dealing in
the US .
The number of members is not limited - they can be individuals, corporations,
and other limited liability companies and foreign organizations. LLC
owners limit their personal liability for the debts and actions. All the
companies with limited liability should file a tax returns as corporations,
partnership or private entrepreneurs. From the company the co-owners of which
are non-residents and which does not carry out activity in a US territory,
the taxes are not raised.
The list of
paid taxes and tax rate in the USA
depends on state in which the company is registered. Taxes are basically
divided into federal and local (in particular state) and industry (e.g. gaming
business additionally is taxed). On average the American companies pay 11 taxes
and contributions. Income tax is 27.9%, tax and payment of salaries is 9.9%.
Restrictions
Restrictions to
some kinds of entrepreneurial business depend on state to state. For example,
in Nevada, special licenses and registration are need such types of business as
medicine, banking business, insurance business, game business, hotel business,
special civil work, advocation, weapons sales, sale of cigarettes and alcohol.
Facts about the country
In the ranking
Easy of Doing Business 2015 the United States
take the fourth place in the world after Singapore ,
Hong Kong and New Zealand .
And in a rating of the world on an index of innovations the USA takes the
sixth seat.
90% of the US population
lives on credit. The average American family pays of a mortgage, loan for
tuition and uses credit cards. Every seventh American has at least 10 credit
cards.
The average
cost of annual training in the American
College
Forbes magazine in 2015 estimated
the combined wealth of the 400 richest people in the US about $ 2.29 trillion. This
amount is roughly equal to the annual GDP of Brazil or Russia .
Co-founder of Microsoft Bill Gates in the 21st time in a row topped the rating
with $ 81.2 billion.
The American
cities such as Chicago , San
Francisco , New York and Los Angeles were included
into the list of the most attractive cities for crossing made by consulting
company .
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