Did you know Louisiana has been ranked #1 in the U.S. for “Workforce Engagement?” It’s not just a highly productive and motivated workforce that is driving business growth and economy of the state but generous tax incentives and low operating costs are also key drivers. These factors have also played a key role in transforming business incorporation in Louisiana into a successful initiative. The current-dollar GDP of the state was $246.3 million in 2017, which is quite a good growth as compared to $209.5 million in 2007.
Why Choose Louisiana for Incorporation?
An interesting fact is that some of the top businesses that have set up companies in Louisiana belong to industries like Energy, Agribusiness, Manufacturing, Automotive, and Water Management. Some of the biggest names include Future Pipe Industries, Inc., Odyssea Marine, Kinder Morgan, CenterPoint Energy, LHC Group, Amedisys, and Edison Chouest Offshore among others.
Now let’s take a look at some of the salient benefits that are responsible for fueling growth of small businesses:
- Company incorporation in Louisiana opportunity zones has its own set of benefits. The prime benefit of being a part of the Opportunity Zones Program is that your business can benefit from the lowering and deferring of federal taxes on capital gains for a period of 5 years. List of Opportunity Zones | Map of Opportunity Zones
- When you set up company in Louisiana, you can benefit from several types of tax credits and exemptions including Corporate Jobs Tax Credit, Automotive and Aerospace Industry Tax Credit, Biotechnology Sales/Use Tax Exemption, Industrial Tax Exemption, and Inventory Tax Credit among others.
How do you incorporate in Louisiana?
Is there a process through which company incorporation in Louisiana is possible? What type of documentation is required? Is the process complex? If you are confronted with these questions then the following steps will help you in understanding how incorporation works in Louisiana:
Type of Business
You can form different types of businesses in Louisiana and this includes domestic and foreign corporation, domestic and foreign limited liability company, partnership, sole proprietorship, and limited liability partnership. The process of incorporation in Louisiana along with the registration and processing fee will vary according to the type of business you want to establish in the state. Know more
Business Entity Name
What is the next step towards company incorporation in Louisiana? The next step is to identify and reserve a name and this is done as follows:
- Naming Requirements: According to LA Rev Stat § 12:1-401 (2015), a corporate name should contain the words “incorporated,” “corporation,” or abbreviations like “inc.,” “corp.,” etc. Similarly, an LLC should contain “limited liability company,” “LLC” or “L.L.C.”
- Business name search: In the state of Louisiana, you need to check for name availability first. You can conduct a preliminary check by phone on 225.925.4704 or through fax to 225.932.5314. You can also conduct name availability check through mail to P.O. Box 94125, Baton Rouge, LA 70804.
- Name Reservation: Once you have identified a business entity name, you can reserve the name with the Secretary of State pursuant to LA Rev Stat § 12:1-402 (2015). Name reservations are valid for a period of 120 days.
- Name Registration: If you are a foreign entity planning to set up a company in Louisiana then you will be required to register your business name with the Secretary of State pursuant to LA Rev Stat § 12:1-403 (2015).
Choose a Registered Agent
According to LA Rev Stat § 12:1-501 (2015) a domestic or foreign corporation or LLC in the state of Louisiana will be required to maintain a registered agent. We are one of the respected registered agents in Louisiana and will be responsible for initiating incorporation in Louisiana through processing of all your documents including “Articles of Incorporation” for domestic corporations and “Certificate of Authority” for foreign corporations.
Articles of Incorporation and Certificate of Authority
You will be required to file “Articles of Incorporation” pursuant to LA Rev Stat § 12:1-202, if your business is a domestic corporation. You will have to file a “Certificate of Authority” pursuant to LA Rev Stat § 12:304, if it is a foreign business entity. In order to streamline the process of incorporation in Louisiana, we can file documents on your behalf through the online process or through an expedited process.
Date Stamped Copies
As a part of the process of company incorporation in Louisiana, we will ensure, you receive date-stamped and filed copies that verifies the state has filed as well as formed your corporation.
Costs and Fees associated with Louisiana Incorporation
What would it cost to set up company in Louisiana? Check Fees here!