COMPANY IN THE USA:
How to start a business in the USA
A business is more likely to succeed if it offers a product that a certain customer base needs. He
It's best to think before you waste time, energy, and money blindly jumping in.
The excitement of becoming your own boss can very quickly turn into a nightmare if you have
Now that you've developed your strategy, it's time to
Time to get to the heart of the matter: the legal set-up of the business.
The legal set-up of the business:
The legal set-up of a business in the United States is simpler than in France. For example, the
capital for a company is not compulsory. But be careful, this allows you to get started in
Adventures that sometimes cost you a lot of money: safeguards, such as building up capital,
being deleted.
You can create a partnership, an association, a joint venture or simply do some
Business in your own name with or without a pseudonym. There are other specific forms that we
won't go into it in this article.
You can also set up a corporation.
What are the particularities of the companies?
It's quite expensive to create and a bit heavy to maintain. As part of a corporation, your
Personal liability is in principle protected. However, in the event of bankruptcy, this is not always
the case
true. The bankruptcy judge can turn against the shareholders, and if you have assets
You may, in some cases, be personally ordered to pay.
In a classic type C corporation, your personal tax return will be entirely separate from your tax
return.
that of your company. If your company is making a profit and you, as a shareholder, you
receive dividends, you will be taxed twice on this income; This is because you will have to pay
tax on the company's profits as well as on dividends (the tax credit does not exist in the United
States).
U.S.. For an "S" corporation, the screen between shareholders and the corporation is more transparent
since shareholders must attach with their own tax return the corporation's tax return (schedule
K-1). In this case, the profits are taxed as part of the personal taxation of each person.
partner and you avoid double taxation. In any case, you can hardly do without a
Lawyer for the setting up of a company. They will also help you set up your company and prepare for the
bylaws and articles of incorporation. In addition, you need to complete a number of
Formalities...
Completing the formalities
Regardless of the type of company you choose, you should also keep your company books to the
and the paperwork is more cumbersome. You also have to pay a minimum in
taxes even if you are in a loss, for example for California this amount reaches $800 (for
for now) to be paid to the State of California per year.
In the opinion of several lawyers, if you want to set up a small business where you are the sole owner,
You don't really have an interest in setting up a classic type of company. On the other hand, you can
very
easily set up your business as an individual. There are no formalities required (unless of course
it is a regulated profession). You have to pay Social Security contributions
Administration" (approximately 15% of your capped earnings). But that money is recovered by the
different jurisdictions at the time you pay your income tax. Therefore, if your
Business does not produce any income, you will not have to pay these contributions.
You don't have to act on your behalf
Whether as part of a company or as a self-employed person, you can act under a fictitious name.
This is called the "fictitious name" here, which allows you to operate under another name (Doing
Business As). You'll be able to hire staff, issue invoices, open a bank account, and more.
The owner of a fictitious name can be one or more individuals, a company, a "
partnership", a "joint venture", a "business trust", etc.
Get a fictitious name
You must complete a "Fictitious Business Name Statement" form for the administration of the "
County" to be registered. Then the notice must be published 4 consecutive weeks in a newspaper
the same distribution as the location of your business.
Newspapers that publish this kind of information do almost nothing else. They take care of the
procedures in the County for you and will publish in their newspaper the opening of your case.
Registration at the County costs $15 (parking is more expensive!). Everything can be done by mail and
phone with these classifieds newspapers.
Prices are indicative and are subject to change. Everything is included. Learn. Look
Addresses in the directory.
Be careful, this Fictitious Name has nothing to do with a Trade-Mark and only allows you to trade under
a name of some kind, but with very limited protection locally.
Armed with this paper, signed by the County, you can go and open a bank account under your new
name in the same afternoon and start your business right away. If you want to hire
staff.
To hire staff:
If you wish to hire staff, you must have an employer number (Employer Identification Number).
Number given to you by the I.R.S. call 800 829 1040, ask for the form to be sent to you
SS-4 (they're very nice: they do everything they can to help you pay taxes!). To go faster,
You can also pick up a form at an I.R.S. walking office. We'll tell you about it
will give the address to that famous telephone number. For example, if you set up your business in
California: Once you have the form, you will be able to call Fresno (the number and
Explanations will accompany the form: it is imperative to have it to be able to call).
They will ask you a few questions about your business and immediately give you a number
employer (starting with 95–). All you have to do is send this form to Fresno, and you can, by
complete legality, hire employees right away, and have the pleasure of paying the related taxes
! If you're not in a hurry, you can also do everything by mail and you'll get a number
2 months later.
To sell products:
If you're going to sell merchandise, you need a seller permit. You have, in fact,
the obligation to collect "dirty taxes" on goods sold at retail. This will give you the opportunity to
will also allow you to buy products in bulk without paying taxes. All you have to do is fill out a
form and you will be registered. Tip: Announce future sales
reasonably low, as you will have an immediate deposit to pay on the turnover
Expected. You can find this form at the State Board of Equalization (SBE). Don't wait in line.
Take several files (in case of mistakes), fill one out quietly at home and send it back.
You will receive your merchant number and the amount to be paid a little later. See the addresses
in the "government" pages of the white pages of the directory. That's it, you've done the legwork
and as the Americans say, "you are in business now".
Our advice to better understand
We recommend the book: Setting up a Limited Liability Company (L.L.C.) in the United States: for a non-resident person in the U.S.A.
It is for sale on Amazon's website.
Here is the link for the book:
BOOK INFORMATION:
ASIN: B08P5V2WJR
Publisher: Amazon KDP (Nov.25 2020)
Language: English
File Size: 2405 KB
Concurrent Device Usage: Unlimited
Text-to-Speech: Enabled
Reading comfort: On
Word Wise: Not enabled
Number of pages in print edition: 100 Pages