The North Carolina Secretary of State’s Office offers a number of different options for starting a business. One option that many people overlook is the formation of a limited liability corporation (LLC). An LLC is a legal entity that allows individuals to operate businesses without having to worry about personal liability. This is especially useful for small businesses because it limits the risk associated with operating a business.
An LLC must file Articles of Organization with the secretary of state within 10 days of forming. Once filed, the articles are published in the newspaper and posted on the secretary of state’s website. These documents provide proof of the existence of the company, including information such as the name of the company, the registered agent, the date the articles were filed, the address where the company is located, and the names of the officers.
Once the articles are filed, the company becomes officially incorporated. The process takes anywhere from 30 days to 90 days, depending on the type of business being formed. After the articles of organization are approved, the corporation files an annual report with the secretary of state.
If you decide to incorporate an LLC, there are some important things to keep in mind. First, you cannot use your home address as the place of business. Second, the company must pay taxes based on its income during the year. Third, the company’s members must hold equal shares in the company. Finally, each member owns one vote regardless of his or her percentage ownership.
To learn more about the benefits of forming an LLC, contact the NC SOS Corporation today.
Table of Contents
There are several steps involved in starting a business in North Carolina.
Starting a business requires filing articles of organization with the Secretary of State. You must complete this step within 30 days of incorporation. If you are incorporating a limited liability company (LLC), you must file Articles of Incorporation with the Secretary of State within 10 days of forming the entity.
An Employer Identification Number (EIN) is required to operate a small business in North Carolina. Obtaining an EIN is handled by the IRS. In addition, a taxpayer identification number (TIN) is needed for larger businesses. This is obtained through either the Social Security Administration or the IRS.
A Doing Business As (DBA) is required if you want your business to use a different name. This is done by completing forms with the state Department of Revenue.
Do I Need a Secretary of State ID Number (SOSID) in North Carolina?
A secretary of state number (SOSID) is needed if you form a corporation, limited liability company (LLC), or partnership. If you are a sole proprietor or unincorporated association, there is no requirement for an SOSID. However, it is recommended that you obtain one anyway because it helps protect your personal assets in case something happens to you. You may want to consider getting a second set of keys to your home just in case.
If you do decide to get an SOSID, here are some things to keep in mind:
• An SOSID cannot be used to open bank accounts, file taxes, or pay bills.
• Your SOSID must be renewed every five years.
• If you change your name, you must notify the Secretary of State within 30 days.
• You can renew your SOSID online, over the phone, or in person.
• To renew your SOSID, you must provide proof of identity (e.g., driver’s license).
How Long Will it Take to Form a Business With the Secretary of State in NC?
New York offers several different ways for businesses to form. Here are some things you should know about each option.
The fastest way to start a corporation is via the online NY StartUp application. This streamlined process allows individuals to apply for a Certificate of Incorporation within minutes. However, there are restrictions on how many people can use the system simultaneously.
If you choose to file with the secretary of state, you will still need to pay fees. But you can save money by doing so electronically. Electronic filings include the filing fee, the annual renewal fee, and the annual report fee. If you choose to file with a registered agent, you will need to pay a $100 initial registration fee and a $10 monthly fee thereafter.
You can also choose to register your company with a local county clerk. This requires filling out a paper form and paying a small fee in most counties. Some counties offer electronic filing options. Check with your county clerk for information.
How long does it take to form a company in another state that will operate in North Carolina?
There are many options when it comes to incorporating a company. Depending on what type of entity you want to form, some states require less paperwork than others. To start off, we assume that the company is not already incorporated in North Carolina. If that is the case, here is how long it takes to incorporate a new state based on the type of entity you wish to form.
1. Choose an Option for Your Entity Type
The following table outlines the steps required to form each type of entity.
Entity Type Steps Incorporation Foreign Corporation File an Application with the NC Secretary of State. Apply with the NC Secretary of State service. Apply with the NC Secretary of State.Apply with the NC Secretary of State. Form an LLC File an Application with the DDNC. Apply with DDNC.File an Application with DDNC.File a DBA/TA License with the DDNC.License with DDNC.License withDDNC.License with DDNCCorporate Domestic Corporation File an Application with DDNC.File an Application with DDNCCorporation.File an Application with the DDNCCorporationService.File an Application with Service. File an Application with service. File an Application with Service.
2. Get the Required Documents
Once you know what entity type you want to form, you’ll need to obtain the appropriate documents. You can find the requirements for each type of entity on the Secretary of State’s website.
3. Pay the Fees Corporation in North Carolina
To incorporate in North Carolina, there are several steps you must take. First, you must file an application form with the North Carolina Secretary of State’s Office. You will also need to pay a $125 filing fee. Once completed, you will receive a Certificate of Incorporation number. This number will allow you to open a bank account and do business in North Carolina.
There are different types of corporations. To start a limited liability company, you must pay another $50 filing fee. A general partnership requires no additional fees. Corporations are required to pay annual franchise taxes. These taxes vary depending on how much income the corporation earns each year.
The most common type of corporation is the domestic corporation. Domestic corporations can operate within the United States. They can also sell products outside the state. Foreign corporations cannot conduct business within the US without a special permit.
Create your LLC Corporation with just 3 easy steps
How to Order a Certified Copy of Articles of Incorporation in NC
Please follow the steps outlined below to order a certified copy of the Articles of Incorporation. If you are unsure, feel free to call us at 919-807-2039.
1. Complete our online form.
2. We will review your information and submit it to the Secretary of State’s office.
3. Once we receive your application, we will mail you a confirmation letter. Your documents will arrive within 10 days.
4. For additional questions regarding your document, please call us at 919–807–2039.
5. Please remember that the fee for filing an article(s) of incorporation varies depending on the number of pages included in the request. Contact us for a quote.
6. Remember, the Secretary of State does NOT accept faxes.
Frequently Asked Questions
How do I get a copy of my NC business license?
1. Go to www.nccommerce.org/businesslicense
2. Click on “Get Your Business License”
3. Enter your information and click submit. You should receive an email confirmation shortly after submitting your request.
4. Once we have received your application, we will send you a link via email where you can download a PDF version of your license.
How do I get an NC state tax ID number?
North Carolina State Tax ID Number (NCTIN)
The NC Department of Revenue issues the NCTIN. You may apply online at www.ncdor.com/taxidnumber. If you have questions about applying for an NCTIN, please contact the NC Department of Revenue at 1-877-852-6848.
You must complete the following steps to obtain an NCTIN:
• Complete the application form provided by the department.
• Submit proof of residency.
• Pay any applicable fees.
• Wait for approval or rejection.
If approved, you will receive an NCTIN card in the mail. Your NCTIN card is valid for three years. After that period, you will need to reapply.
Is tax ID number the same as EIN
Yes, they are the same thing. The IRS issues a tax identification number (TIN) to businesses that have federal income taxes due. An employer Identification Number (EIN) is only issued to employers who pay Social Security Taxes. Both numbers are 10-digit numbers beginning with 990.
James Rourke is a business and legal writer. He has written extensively on subjects such as contract law, company law, and intellectual property. His work has been featured in publications such as The Times, The Guardian, and Forbes. When he’s not writing, James enjoys spending time with his family and playing golf.
