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
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.
Check name availability at Mississippi’s business entity names and reserve your LLC name.
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:
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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.
Forming a foreign limited liability company (LLC) in Mississippi allows non-residents to take advantage of the state’s business-friendly environment and robust legal framework. The process of registering a foreign LLC in Mississippi is relatively straightforward, but it does require numerous documents and fees.
To form a foreign LLC in Mississippi, an applicant must first choose a unique business name and file Articles of Organization with the Mississippi Secretary of State. The Articles of Organization must include the LLC’s name, its address, the name and address of its registered agent, the name and address of the LLC’s organizers, and the LLC’s purpose. The applicant must also include the LLC’s period of duration and any other relevant information. The Articles of Organization must be signed and notarized before being filed with the Mississippi Secretary of State.
Once the Articles of Organization have been filed, the applicant must obtain a certificate of foreign registration from the Mississippi Secretary of State. This certificate is proof that the LLC is registered to do business in Mississippi. The application fee for a certificate of foreign registration is $100.
In addition to the filing fees, applicants must also pay an annual franchise tax for the privilege of doing business in Mississippi. The franchise tax is calculated as a percentage of the LLC’s total assets. For a foreign LLC, the franchise tax rate is 0.0005%. This means that if the LLC has assets worth $1 million, the franchise tax due would be $500.
The applicant must also pay a $50 annual report fee. This fee is due every year, and it is used to maintain the LLC’s records with the Mississippi Secretary of State.
Finally, the applicant must appoint a registered agent for the LLC. The registered agent is responsible for receiving service of process and other legal documents on behalf of the LLC. The registered agent must be a resident of Mississippi and must have a physical address in the state.
In summary, the cost to register a foreign LLC in Mississippi is $150 in filing fees and an annual franchise tax of 0.0005% of the LLC’s total assets. Additionally, the LLC must pay a $50 annual report fee, and it must have a registered agent in Mississippi.
F.A.Qs
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.
In Conclusion
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.