Why is incorporation in Missouri a good business decision? Missouri has a stable economy supported by robust infrastructure and a good business climate. The percentage change in real GDP of the state from Q4-2017 to Q1-2018 was a healthy 2.4 percent. The Real Gross Domestic Product (GDP) of the state in 2017 was at $263.1 billion. This is a healthy growth as compared to the -1.2 percent in 2011. This continued positive growth of the economy is being driven by core industries like agriculture, manufacturing, and healthcare.
Why Choose Missouri for Incorporation?
There has been a steady rise in company incorporation in Missouri in the last 5 years and today it is home to 11 Fortune 500 businesses. Some of the top businesses in the state include Peabody Energy, Emerson Electric, O’Reilly Automotive, Express Scripts Holding, Centene, and Reinsurance Group of America.
Now let’s take a look at some of the salient benefits that are responsible for fuelling growth of small businesses:
- Missouri Opportunity Zone (OZ): The OZ program has been created to encourage small and medium sized enterprises to make long-term investment and also enable job creation especially in low-income areas of the state. There are 161 listed Opportunity Zones in Missouri. If you set up company in Missouri in the opportunity zone then you can benefit from favorable tax treatment as well as tax incentives like temporary deferrals. List of opportunity zones
- Quality Jobs Program: This is a program implemented by Missouri Department of Economic Development and facilitates quality job creation. One of the primary benefits of this program for small and expanding businesses is that of the state withholding tax of the new jobs.
How do you incorporate in Missouri?
What is the process through which you can set up company in Missouri? What type of documentation is required? Can the registration documents be filed online? If you are confronted with these questions then the following steps will help you in understanding how incorporation works in Missouri:
Type of Business
What type of business do you want to form? You can choose to form domestic or foreign Corporation or any other business like a domestic or foreign limited liability company, Limited Partnership (LP), Limited Liability Partnership (LLP), Cooperative Associations and Not for Profit Corporations. The first step towards company incorporation in Missouri is choosing the type of business you want to form.
Business Entity Name
What is the next step towards company incorporation in Missouri? The next step is to identify and reserve a name and this can be done as follows:
- Naming Requirements: According to MO Rev Stat § 347.020 for LLC and MO Rev Stat § 351.110 for a business corporation, the name should contain the words “limited liability company”, “corporation”, “incorporated” or abbreviation like “LLC. “, “corp.”, and “inc.” The names should be distinguishable from existing names.
- Business name search: You need to search for a business name that is not in use currently. You can conduct name availability search here.
- Name Reservation: Once you have identified business entity name, you can reserve the name with the Secretary of State pursuant to MO Rev Stat § 347.025 (LLC) and MO Rev Stat § 351.115 (Corporations). A name can be reserved for a period of 180 days.
- Name Registration: If you are foreign entity planning to set up company in Missouri then you will be required to register business name with the Secretary of State pursuant to MO Rev Stat § 347.157 (LLC) and MO Rev Stat § 351.584 (Corporations).
Choose a Registered Agent
According to MO Rev Stat § 347.030 (LLC) and MO Rev Stat § 351.370 (Corporations), a domestic or foreign corporation or LLC in the state of Missouri will be required to maintain a registered agent. We are one of the respected registered agents in Missouri and will be responsible towards initiating incorporation in Missouri 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 MO Rev Stat § 351.055, if your business is a domestic corporation. You will have to file a “Certificate of Authority” pursuant to MO Rev Stat § 351.576, if it is a foreign business entity. In order to streamline the process of incorporation in Missouri, we can file documents on your behalf through the online process or through expedited process.
Date Stamped Copies
As a part of the process of company incorporation in Missouri, 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 Missouri Incorporation
What would it cost to set up company in Missouri? Check Fees here!