There are several structures to choose from when incorporating in Montana. When starting a business in Montana and planning to incorporate, it is especially vital that an appropriate business structure be chosen first.
The fundamental building block to finding the right business structure is to foremost consider business requirements and then go through the pros and cons of each business structure. From there, decide on which structure provides the best advantage to the business. Remember that no single business structure fits one business.
Also, business experts highly encourage to choose the right structure the first time to save on time and incorporation expenses. Here are some resources that can help in picking the appropriate structure.
At the process of learning how to incorporate in Montana, it must be kept in mind that all requirements should adhere to the state’s standard.
For this reason, it is crucial that all sources of information, deliverables, and requirements should only come from the Montana Secretary of State Office. The office can also be contacted directly to verify requirements and inquiry on important matters.
Now that you have followed the steps above, you are officially a Montana business owner. Here are 5 additional steps to help you start a successful business.
At this part of the incorporation step is where all requirements must be completed. When an Articles of Incorporation is submitted, several tasks should also be accomplished.
Picking a business name that adheres to state regulations, retaining the services of a Registered Agent as per the state’s requirements, electing initial directors and setting up an organizational meeting, obtaining an Employer Identification Number, taking care of business tax obligations, completing business licenses and permits, etc. are just some of the tasks required of entrepreneurs looking to incorporate in Montana.
Internal documents should also be created such as a business plan, corporate bylaws, operating agreement, and incorporator’s statement.
By opening a business bank account you will be able to keep all financial assets separate. Not only does it protect your personal assets, but it makes paying taxes a lot more simple.
There are many options including Chase and Bank of America, so do your research to find out which is right for your Montana business. Here are our top 3 options.
To be able to compete with existing businesses, you need to have a business website to build trust with your customers. The best alternative to hiring an expensive designer is to start a website on WordPress.
Bluehost has one-click-to-install option that a non-tech savvy entrepreneur can do themselves. Learn how to get started with this simple guide.
After incorporating in Montana, there are several more requirements that must be completed at certain periods of the business’ calendar year for maintenance and compliance purposes.
This also ensures that a good standing with the state is maintained through the duration of business operations. Annual reports, regular tax obligations, and renewal of business licenses and permits are just some of these. Late filing of these requirements will also result in penalties.
The resources in this guide are our partner services. When our readers use any of these resources, we receive a small commission. Through this commission, we are able to give support for children’s education with the assistance of DonorsChoose.org. To date, more than 36,000 children have been influenced by our efforts. We do all this without adding any extra costs to our readers. See more of what we do here at Startup Savant to promote our mission on Our Impact page.