If you already have an LLC in another state and want an LLC in Mississippi, then starting an LLC would be somewhat different. You must register as a foreign LLC. We have here a guide on how you can qualify and register for a foreign LLC in Mississippi.
On this page, you’ll learn about the following:
- Forming an Mississippi Foreign LLC
- Steps to Filing Mississippi Foreign LLC Online
- After Forming Mississippi Foreign LLC
Forming an Mississippi Foreign LLC
A foreign LLC does not need to be a company from another country but a business formed under the laws of another state. To start a foreign LLC in Mississippi, you need to register it with the Mississippi Secretary of State.
Step 1: Choose Mississippi Foreign LLC Name
Obtain a name reservation certificate and submit it with your foreign qualification requirements at the Mississippi Secretary of State. Your LLC’s legal name outside of Mississippi will be listed on the application, along with the name it will use in Mississippi. Take note of the requirements for naming your LLC.
Step 2: Select Mississippi Foreign LLC Registered Agent
You’ll need a registered agent to form a foreign LLC in Mississippi and take note that a Mississippi registered agent must have a local address. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries:
Step 3: File Registration of Mississippi Foreign LLC
Fill out and submit a Foreign LLC Application for a Registration form by mail to P.O. Box 1033 Jackson, MS 39215-1033.
Include the following:
- LLC’s full legal name.
- A fictitious name or a DBA (only if your LLC’s legal name is not available); Attach a statement of adoption of the fictitious name signed by all LLC members.
- LLC’s principal office and mailing addresses.
- LLC formation state and date.
- Registered agent’s name and address in Mississippi
- Date when your LLC will start operations in Mississippi.
- Credit card information on the last page of the form for the $150 application fee.
The LLC cost in Mississippi, even for foreign LLCs will differ between online filing and by mail.
Step 4: Determine How Your Mississippi Foreign LLC is taxed
Foreign LLCs are also subjected to the Mississippi Business Privilege Tax, and they must file LLC annual reports each year.
Note that forming a foreign LLC would be good for your business as you can legally operate in a different state thus reaching a larger market and opening more opportunities for higher profit.
Steps to Filing Mississippi Foreign LLC Online
Time needed: 5 minutes
When you are registering for the foreign LLC in the State of Mississippi, you will have to submit your Application for Registration of foreign LLC with the Secretary of State which costs $250. After approval, you will receive a Verification Certificate from the State Office. The State does not offer offline filing options and the application can be filed via online mode only. We have explained the aspects you need to cover when you apply for Mississippi Foreign LLC.
- Go to the Official State of Mississippi website
Visit the Business Services Portal on the Secretary of State website. The portal offers a one-stop solution to all business filings and information.
- Business Filings
On the Business Services page, click on the “Business Filings” options available on the bar below the heading.
- Login to your account
On the following page, the login box is available. If you already have an account with the Secretary of State, proceed to fill in your username and password and click on ‘login’. If you do not have an account, then click on the ‘Register’ tab. After clicking on the Register tab, on the next page check the ‘I am not a robot’ box and proceed to create your account.
- Create your account
On the account registration page, fill in the required details such as first and last name, street address, business address, business email, primary phone number, and date of birth. Then click on the ‘Next’ tab and complete the registration process.
- Proceed with the Registration
After the creation of your Account, proceed with the registration and business filing online on your account. Enter all the important information.
- Review your Information
Review the information provided in the form thoroughly to be accurate and correct.
- Complete the payment
Finally, make the payment online of $250. Once done, you will receive a notification regarding the completion of the filing of your Mississippi LLC.
After Forming Mississippi Foreign LLC
Here are added things you need to accomplish after forming your Mississippi Foreign LLC
- Obtain Business Licenses. Find the business licenses you’ll need using the Business License Search.
- File LLC annual reports and Business Privilege Tax.
- Pay State Taxes like sales tax; you’ll need an EIN for your LLC.
It is convenient plus easy to file for the foreign LLC if you are doing it online. The steps are very easy and that’s why it’s possible to go along with the steps and form the foreign LLC in Mississippi.
How Much Does It Cost to Register a Foreign LLC in Mississippi
To register as a foreign LLC in Mississippi, you can file online by paying a filing fee of $250 to the Mississippi Secretary of State.
The allure of expanding business operations across borders is undeniable. In an increasingly globalized world, entrepreneurs and businesses seek new horizons to test their potential and foster growth. Foreign entities, for instance, often find ample opportunities to spread their wings and tap into new markets in the United States, where its diverse economy commands attraction. Among the various states where companies have the possibility to branch out, Mississippi, nestled in the Deep South, epitomizes Southern charm and promise. However, like any new endeavor, establishing a foreign Limited Liability Company (LLC) in Mississippi comes with various costs and considerations.
To start, it is important to emphasize that Mississippi does not recognize the term “foreign LLC” as an out-of-state LLC seeking registration in the state. Instead, the entity must undertake a process known as “foreign qualification” to commence operations within Mississippi’s borders. Despite the somewhat misleading nomenclature, the process involves registering an out-of-state LLC as though it were a domestic LLC operating in Mississippi for the first time.
Now, when determining the costs incurred during this process, it is essential to understand that they are not fixed and may vary depending on several factors. One crucial element is the quality and level of expertise of a registered agent, to whom businesses are required to designate for receiving important legal and tax-related documents. Registered agents not only facilitate the process but also serve as guardians of the company’s legitimate legal interests.
Additionally, filling fees pose an inevitable expense. The filing fee for registering a foreign LLC with the Mississippi Secretary of State is typically higher than the fee charged for domestic LLCs, but this varies depending on several factors. The complexity of the organization’s structure, along with the scope of its planned activities, influence the official fees to a large extent. After all, the fee is calculated based on the company’s capitalization and the extent of its operations, making each foreign qualification a unique undertaking.
To streamline the registration process, hiring an attorney who specializes in business law may prove beneficial. Nevertheless, such legal expertise indeed comes at a price, and aspiring foreign entities need to factor in attorney fees when gauging the overall cost of qualifying a foreign LLC. While partnering with an attorney ensures compliance with all the intricate rules and regulations, their services should be considered as another vital expense along the way.
Furthermore, should the company relocate its business headquarters to Mississippi, the scenario becomes different. The costs to register and commence operations can entail additional factors such as office space leasing, equipment acquisition, and employee recruitment expenses, all of which vary based on location and business specificities. These fundamentals should be taken into account when assessing the true cost of expanding across state borders.
In conclusion, establishing a foreign LLC in Mississippi demands not only a firm grasp of the legal intricacies involved but also a realistic understanding of the costs associated with the process and post-establishment operations. From registered agents to filing fees, legal assistance to lease agreements, the cost to register a foreign LLC can accumulate depending on various factors unique to each business venture. As a prospective foreign entity, it is vital to have a comprehensive understanding of these implications before embarking on the journey of expansion and opening doors in the friendly state of Mississippi.
If your LLC is formed under the laws of another state, it is referred to as a foreign LLC in Mississippi.
Businesses incorporated outside of the state where they operate must have “foreign qualifications” issued in the other states.
A domestic LLC is a company registered in Mississippi as an LLC. The entity type that has a physical presence in another state is a foreign LLC.
Starting a foreign LLC in Mississippi does not require a lot of documentation or tasks. However, it is always good to seek help from a professional when it comes to running your business. Get a professional registered agent and form your foreign LLC anywhere without a hassle.