Do you have a business entity that you're searching near and far to set up in a state other than your home state. Well, one great place to do so is by setting up that entity in Kentucky. Kentucky is one of the best states to set up a business due to its cost efficiency and its easy to follow business procedures. Here are few simple tips that may help you when doing business in Kentucky.
*Registered Agent and Registered office
In doing business in Kentucky one of the first things that every business organization should have is a registered agent and a registered office in Kentucky who will be able to carry out certain processes. This is a requirement by the laws of the state.
*Annual Reports
Another requirement when doing business in Kentucky is to ensure that an annual report of the company's transactions is filed by the 30th of June every year. Failling to do so may result in the company's being in bad standing with the local authorities and may even result in termination or restriction of authority to conduct business in Kentucky.
*Articles of Corporation
The articles of corporation for the company must contain information about the head office for the business whether or not it is located in Kentucky.
* Obligations
As soon as a business is operating in Kentucky legally, there are certain obligations that should be followed and kept at all times. These include making the Secretary of State aware of any changes in the business' Kentucky-registered office and agents operating in Kentucky, as well as making the Secretary of State aware of any changes to occur with the head office; such as a change of address. The company operating in Kentucky must also ensure annual reports are completed on time.
* Making changes to business operations
In order to make any changes or do adjustment to the business organization, a request/filing should be sent to the Secretary of State in order to have it approved.
With these very useful tips, your concerns about doing business in Kentucky should be laid to rest since the process of setting up your business there is so simple and easy. Another reason why persons usually set up their businesses in Kentucky is due to the fact that the standard of living is very affordable and persons living the state of Kentucky are very warm and friendly. With all this in mind any doubts or apprehensions of doing business in Kentucky should now be put a little at ease.