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The Best State In The US To Incorporate A Startup

  • By startup_admin
  • August 25, 2021
  • 34 Views

Nowadays working from home is the new normal whether you are an employee or you are a startup. You can take advantage of working from the convenience of your desk and have a flexible schedule, a custom environment, wear cozy clothes, it’s easier to make calls, no office distractions, and you can save money for travel and even eat your favorite cookies whilst answering work emails to clients.

The convenience of working from home is a game-changer to many startups. Working remotely means, you can also operate your business from home.

Here’s our suggestion for startups on how to launch their business in the U.S.

First, this article is advisable for a non-resident in the US. Each state has different laws and regulations, and we learned that Wyoming to be the most effective home base for Internet companies.

Here’s why:

Privacy

You can incorporate a company and operate your ecommerce business in Wyoming in complete secrecy for now. The partner’s and shareholders’ information won’t appear on your Wyoming public business records, meaning your identity will not be exposed.

Low Startup Costs

Wyoming has the lowest population of any state. This makes it important for state and local legislators to make doing business in Wyoming as inviting as possible to help grow the state’s wealth and lower unemployment. Business registration costs are pennies-on-the-dollar over many of the other states.

Fast Approvals

The entire process is not as complicated as incorporating a company in other states, meaning you can have your ecommerce business up and running in just a few days, without booking a flight or accommodations to Wyoming.

No Income Taxes

The state of Wyoming doesn’t collect income taxes, and given they’re driven toward increasing their population numbers, it’s safe to say this will be a reality for years to come. When considering Wyoming over other states their zero tax obligations, privacy laws, low startup costs, online bank account setup, and fast approval process, it’s a no-brainer they’re the perfect state to set up your ecommerce HQ.

Secured U.S. Bank Account

There are many secured online banks that allow a non-resident business owner to open an account through the help of an incorporation agent. To apply, you will need first a U.S. company with a federal EIN, your company’s articles of incorporation, and a picture of your government ID. Your agent will file the company and get you an EIN and articles of incorporation.

Fees can be as low as USD 99 to open an account.

Incorporation Reference:

Tips: If you’re going to be a small, online business you should choose Wyoming LLC. If you plan on raising capital from investors you should choose a Delaware corporation.

Reference: Jumpstart

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