When you’re starting a business, every LLC Cost dollar counts. Uncover how
much you’ll need to spend when you start an LLC in your state.
Initial LLC Filing Fee (Articles of Organization):
All business owners have to pay a state filing fee when they file
the documents to form an LLC. This is a one-time fee paid to file your LLC
formation documents with the state government where you start your LLC.
Ongoing LLC Cost (Annual/Biennial Reports):
Most states also have an ongoing mandatory fee – usually paid
every 1 or 2 years. – which keeps your LLC in compliance and in good standing.
There are generally late fees if you file your LLC Annual Report
after the deadline. And most states will shut down your LLC if you ignore this requirement.
Other costs for forming and running an LLC may include the
following services:
Hiring a business lawyer to file the Articles of Organization, or
Certificate of Formation, with the local Secretary of State
Publishing a statement of formation in local newspapers
Creating an operating agreement that defines how your LLC will
conduct business. And distribute profits and losses among members
Obtaining a federal employer identification number (EIN) from the
Internal Revenue Service (IRS)
LLC fees vary from state to state and can change at any time.
Filing fees tend to cost more in states that are looking to raise extra funds.
In some states, you may need to pay additional fees for consulting with a
business lawyer or using service providers.
LLC Fees vary from State to State and Can Change Any Time.
The following table shows the main initial and ongoing LLC fees by state.
State | LLC Filing | LLC Initial Report | LLC Publication | LLC Annual Report |
Alabama | $165 | $0 | ||
Alaska | $250 | $0 | $100 | |
Arizona | $50 | $299 (required) | $0 | |
Arkansas | $50 | $150 | ||
California | $75 | $20 | $20 | |
Colorado | $50 | $10 | ||
Connecticut | $175 | $20 | ||
District of Columbia | $220 | $300 | ||
Delaware | $140 | $300 | ||
Florida | $155 | $138.75 | ||
Georgia | $100 | $50 | ||
Hawaii | $50 | $15 | ||
Idaho | $100 | $0 | ||
Illinois | $500 | $305 | ||
Indiana | $90 | $30 | ||
Iowa | $50 | $45 | ||
Kansas | $160 | $55 | ||
Kentucky | $55 | $15 | ||
Louisiana | $100 | $30 | ||
Maine | $175 | $85 | ||
Maryland | $155 | minimum $300 | ||
Massachusetts | $520 | $520 | ||
Michigan | $50 | $25 | ||
Minnesota | $160 | $0 | ||
Mississippi | $50 | $25 | ||
Missouri | $50 | $0 | ||
Montana | $70 | $15 | ||
Nebraska | $120 | $150 | $26 | |
Nevada | $75 | $325 | $325 | |
New Hampshire | $100 | $100 | ||
New Jersey | $125 | $50 | ||
New Mexico | $50 | $0 | ||
New York | $210 | $425–$1,200 | $9 | |
North Carolina | $125 | $202 | ||
North Dakota | $135 | $50 | ||
Ohio | $125 | $0 | ||
Oklahoma | $104 | $25 | ||
Oregon | $100 | $100 | ||
Pennsylvania | $125 | $0 | ||
Rhode Island | $150 | $50 | ||
South Carolina | $110 | $0 | ||
South Dakota | $150 | $50 | ||
Tennessee | $325 | $310 | ||
Texas | $310 | Based on gross annual revenue | ||
Utah | $72 | $15 | ||
Vermont | $125 | $25 | ||
Virginia | $104 | $50 | ||
Washington | $200 | $10 | $73 | |
West Virginia | $132 | $25 | ||
Wisconsin | $130 | $25 | ||
Wyoming | $103 | $52 |
What is ITIN?
An ITIN Number is a unique nine-digit tax processing number issued by the Internal Revenue Service (IRS) to individuals. Who are required to have a U.S. taxpayer identification number but aren’t eligible for an SSN. , were introduced to ensure that individuals, regardless of their immigration status, can comply with U.S. tax laws and fulfill their tax obligations.
Who need’s ITIN?
Non-residents:
Individuals who are not US citizen or permanent resident but have US tax obligations. Such as those who are earning income in United States of America.
Dependents:
Non-resident alien dependents may need an ITIN to be claimed on a U.S. tax return.
Spouses:
Spouses of U.S. citizens or residents may need an Individual Taxpayer Identification Number to file a joint tax return or claim certain tax benefits.Foreign investors:
Non-residents who are investors in United States may need Individual Taxpayer Identification Number. To open their bank accounts, obtain mortgages and to report income from these investments.
Business owners:
Non-resident aliens operating a business in the United States, or owning property here, often need an ITIN for tax purposes.
Why is ITIN important?
Individual Taxpayer Identification Number is important for several reason:
Tax Compliance:
Those individuals who don’t have SSN can file their tax through their ITIN without an Individual Taxpayer Identification Number, they cannot report their income, file tax returns, or meet their tax responsibilities.
Legal requirements:
if you are earning in USA it’s a legal requirements to have an ITIN to report in IRS for your tax filing if you don’t have ITIN then the individual will face legal consequences.
Access to tax benefits:
ITIN holders may be eligible for certain tax benefits, such as the Child Tax Credit or the American Opportunity Credit, which can help reduce their tax liability.
Financial Transactions:
Some financial institutions and businesses may require Individual Taxpayer Identification Number for opening bank accounts, securing loans and conducting other financial transitions.
Individual Taxpayer Identification Number is for those individuals who are not qualified for SSN but need to fulfill their tax obligations in USA. Non-resident of USA can also file tax by obtaining ITIN.
For more info connect with Jorofy’s experts support for clear guidance and get your Individual Taxpayer Identification Number.