A foreign corporation isn’t a company with a luggage and a passport, but a corporation that was formed in one state and is additionally lawfully registered to do business in an additional state. To sign up a foreign company in Kentucky, you need to file a Kentucky Certificate of Authority with the Kentucky Secretary of State. You can send this paper by mail, online, or personally. The Certificate of Authority for a foreign Kentucky company sets you back $90 to file.
You can use our guide below to register your international firm on your own. Or we can help you file and get your company going in Kentucky.
How to Register as a Foreign Corporation in Kentucky
The process of getting your out-of-state company registered legally in Kentucky to do business is called foreign credentials. Essentially, foreign qualification tells one state that you wish to do business in it like open a shop, lease building, or use and pay employees who reside in the state.
Registering your service in Kentucky as an international firm won’t create a new service.Read here Kentucky 740 X walkthrough At our site Instead, it offers you the right to do business in a new state without having to submit Articles of Unification or get a new Company Identification Number (EIN).
Here’s everything you need to do to perform organization as an international firm in Kentucky.
1. Name Your Kentucky Firm
To finish your Kentucky Certification of Authority, you’ll require to ensure your company’s name is readily available in the state. You can do a cost-free name search on the Secretary of State’s site to make sure your preferred organization name is offered. If your service’s name is not available, you’ll require to provide a name that fulfills Kentucky’s business name law KY Rev Stat 14A.3-010.
Worried your company name won’t be available for future foreign registrations? Take into consideration applying for a government hallmark for your organization name to guarantee it’s readily available in all fifty states.
2. Assign a Registered Agent
A signed up representative is someone that accepts legal mail on your firm’s behalf. One of the requirements of a Kentucky registered representative is they be found within the state. As a foreign corporation, it’s a safe bet to guess that you aren’t located in Kentucky and can not act as your very own registered agent. That implies hiring a business or individual you trust to work as your signed up representative.
An additional note: in Kentucky if your registered agent does not sign your foreign enrollment application, they will require to write a letter of admission or approval claiming they accept be your Kentucky registered representative. You’ll have to include this letter with your application.
Rather than leaving this essential action in the hands of a possibly unstable resource, work with Northwest as your Kentucky registered agent. We can file your foreign company registration and manage all the paperwork.
3. Start Your Business Identity
As soon as your service is lawful in the new state, you’ll want to prepare to make sales. Developing your service identity, or the way you present yourself to your potential clients, can prepare customers for your upcoming services and products.
Perhaps you’ve never begun obtaining your business available. Currently’s a fantastic possibility to start a company website or get a custom service email address.
Maybe you currently have an electronic visibility, today you wish to make it easier for out-of-state people to discover you, and begin building understanding and a reliable track record in your new territory. Consider getting a local telephone number or a neighborhood business address to make use of on documents where feasible. Regardless, see to it your business has a method to market itself in the brand-new state, specifically if you are not opening a brick-and-mortar.
4. Submit Kentucky Certificate of Authority
To send your Kentucky Certification of Authority, you’ll require to pay the $90 declaring charge and include the adhering to info:
- firm name
- entity kind
- mailing address of principal workplace
- signed up representative address and name
- registered representative admission or permission form
- names and addresses of company policemans
5. Submit Kentucky Information and Taxes
Your foreign company will now have Kentucky taxes and reports to submit independent of the ones you file in your home state.
- Earnings tax: Kentucky charges a corporate tax rate of 5% on foreign corporations that just applies to the take-home pay you’ve made from business performed in the state. The earnings that Kentucky computes for your company is based on the state’s tax regulations and gets determined from your company’s federal gross income.
- Annual report: In Kentucky, corporations file an annual report, you guessed it, yearly! You can use your annual report to upgrade the state to any type of modifications made to your firm like elimination of directors or adjustments in your principal address. Your Kentucky Annual Report schedules the June 30th of every year and costs $15 to submit.
- Kentucky Limited Obligation Entity Tax Obligation (LLET): Despite The Fact That it’s called the Limited Obligation Entity Tax, it’s not just for LLCs. Entrepreneur in Kentucky that obtain liability defense from their firms are also subject to this tax. The LLET price is $950 for every $1 million in gross invoices or $7,500 for each $1 million in gross profits, whichever is lower. There’s a minimal LLET of $175 regardless which rate is utilized.
Northwest Can Register Your Kentucky Foreign Firm
If doing things on your own audios frustrating, dull, or generally like not an excellent use your time, we’re ready to assist. Our international certification package is $225 + Kentucky costs. This includes:
- Registering your company as a Kentucky Foreign Corporation: We’ll file your paperwork and let you understand when it’s authorized.
- Functioning as your business’s Kentucky Registered Representative: We can be your RA in as numerous states as you want to expand into.
- Introducing your organization identity: We’ll obtain you an electronic presence, consisting of a company e-mail address, phone company, and mail forwarding. Plus, we’ll create a personalized site with a domain name, webhosting, and safety and security in place. These will certainly all be complimentary for 90 days. After that, a lot of services are $9/month.
- Sending reminders for your Kentucky annual report: We can also submit this for you. We’ll send you a tip about the report 90 days before they’re due, and you can either have us file for you or opt out of the service.