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Frequently Asked Questions
- *Contact Type
- This field is important to know who is responsible for the company with the Safety Tax
- *Document Type
- As responsible for the company, we must know the identity number of this person with the IRS and this can be an SSN or an ITIN
- *SSN - Social Security Number
- Social Security Number - This applies most of Americans or Green Card holders
- *ITIN - Individual Taxpayer Identification Number
- Registration number with the Internal Revenue Service - This applies in the vast majority to foreigners who in some way have or have had tax obligations with the Internal Revenue Service
When starting the registration of a company in the United States, the responsible person must first know which type of company he is looking to register and know the differences between each type of company and the main factor For that, we will be explaining in a succinct way all the companies types available for registration
- *Registration State
- In this field, you must choose the US state to register the company. Attention because if you choose a state other than the one you really want to register your company, this process will be irreversible
- *Name
- This field effectively determines what name you want to give your new company. Attention because if you misspell or put strange names, this will be the name that will be registered with the state and will also be an irreversible process
- *IRS Classification
- This field determines the tax model of the company
- *1065 - LLC
- LLC Company - Help
- *Corporation
- EN-US - [CORPORATIONHELP]
- *Non Profit
- EN-US - [NONPROFITHELP]
- *Economic Activity
- The main codes of commercial activity are based on the classification system of the North American industry. They classify a company by the type of activity. The list of activities and codes determines which activity the company obtains the highest percentage of its "total receipts". Also known as IRS Business Codes since this code must be described in the income tax return of the company, therefore, we recommend that you choose which professional activity the company will carry out or the one closest to this activity
- *Main Activity
- The field of election of the main activity was designed with the aim of quickly determining which branch of activity is not concerned, therefore, here with the specific or main activity of the company to be registered
- *Type of business or purpose for new business
- This field is preponderant so that we at Safety Tax can have a general notion to which the company will be destined
- *% Shares
- In this field you must enter the percentage that each partner will have of the company
- *% Profit
- In the United States, the law allows a partner to have a percentage of the company's results differently from the% of the shares it holds in it, so enter what% of the results it is intended for each partner
- *Amount
- In this field, you must enter the amount that each partner will contribute as the company's share capital. Normally the share capital of a new company is $ 1,000 and can be any other value that the partners determine
Registered Agent
- *What is a registered agent?
- A Registered Agent is a "third party" agent, that is, a person or company located physically in the state of Florida, available to your company during business hours and who will accept all documents sent by the Court, the Courts, the Secretary of State , the State Department and other government entities that may need to contact you
- *What does a registered agent do?
- A Registered Agent will accept documents on behalf of your company, ensuring that you will not lose any important information regarding the payment of taxes or any possible lawsuits that may be taking place with or against your company. A Registered Agent may or may not have an official management position at your company. In the case of <strong>SAFETY TAX</strong>, we do not offer and will not offer this option to participate in the business of our clients' companies because they understand that this would be a conflict of interest in view of our professional activities
- *Can you be your own registered agent?
- Although you can be your own registered agent, it is usually not recommended. Many states recommend that companies choose third parties to take on this important role. <br> Having someone responsible for receiving all of these documents, you can be sure that they will be received. You also do not need to remain available from Monday to Friday, during business hours, every day of the year in which it is applicable to receive these documents, as it is a company, it will be open commercially during business days weekly
- *What are the other benefits of having a third party registered agent?
- In addition to not having to worry about losing important documents, having a Registered Agent (a company) also means that you are less likely to accept “Legal Documents” that you don't really need to accept or that were sent to you in error, such as for example the official statements that come with these documents such as "When signing these documents, it is your duty to ensure that the appropriate recipient receives them, whether it be you or someone else connected with the company you represent"
- *What if I don't designate a Registered Agent?
- A company that does not have a Registered Agent is at risk of not being in "Good Standing" with the state in which it is registered and is therefore incorrectly registered. Because of this, you run the risk of incurring fines and the state may even put your company in an "inactive" status. While in an inactive status, your company is technically closed for the purposes of all government agencies and, to reopen it, will have relatively high costs
- *Closing Month of Accounting Year
- As a rule, 99% of companies have their month of accounting closing the month of December taking the annual calendar as a fiscal calendar. <br> We recommend that the month of closing your company is the month of December, however, if you understand that due to the activity of your company requires a different month, you can do it taking into account that this will be the month that will rule all your company's tax obligations to the IRS