The key to getting the best benefit when starting a business in Mississippi and incorporating it is to pick the right business structure that most closely coincides with your business needs. There are a variety of business structure options for consideration, from Limited Liability Companies to Corporations.
A specific business structure has effects on your business’ tax requirements, liability, and opportunities for business progress, so be sure to have a working knowledge and a good understanding of each structure’s pros and cons.
The links below also offer insight as to how to go about the task of incorporating in Mississippi successfully.
The steps on how to incorporate in Mississippi should be in line with the incorporation requirements of the state. To ensure that you have every requirement pat down, get in touch with the office of the Mississippi Secretary of State by phone or through their official website.
Make sure that you get the requirements only from the Secretary of State’s office as this is crucial to the approval of your incorporation.
Now that you have followed the steps above, you are officially a Mississippi business owner. Here are 5 additional steps to help you start a successful business.
Aside from filing the Articles of Incorporation form with the Secretary of State, there are a number of requirements that must be completed to be a fully operational incorporated business.
You need a business name to begin with, a Registered Agent that adheres to state regulations on hiring one, an initial number of directors, schedule an organizational meeting, obtain a Mississippi employer identification number, complete business tax obligations, procure the necessary licenses, permits, and certifications, and more.
In addition to these state requirements, there are also a few recommended steps you should complete to ensure smooth business operations in the long run. Internal documents such as a business plan, corporate bylaws, operating agreement, incorporator’s statement, and more can be a big help to your business.
The next step to starting a Mississippi business is to start a separate bank account from your personal one. This is important because you will be able to keep all assets separate in the eyes of the law.
There are many options for opening a business checking account like Citibank and Chase. For a quick look at some of our favorites, see this review.
As you start a business in Missippi, the next step is to build a professional website. This earns the trust and business from your potential customers.
If you don’t want to get too technical and are looking for the easiest solution, look into WordPress. It is free, customizable, and easy to use. Learn how to start a website for your business through this helpful tutorial.
As part of your obligation as an incorporated business in Mississippi, there are maintenance requirements that must be observed. When it comes to tax obligations, periodic submission of reports and filing are required. Some taxes may be due monthly, quarterly or annually, so make sure you have a good understanding of how the tax system works.
Some licenses and permits should also be renewed under special circumstances or as required by state policies. Prompt submission of these maintenance requirements ensures that you won’t get penalized or fined by the state.
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