South Dakota Foreign LLC – Qualification and Registration

If you already have an LLC in another state and want a South Dakota LLC, 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 South Dakota. 

Forming a South Dakota 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 South Dakota, you need to register it with the South Dakota Secretary of State.

Step 1: Choose South Dakota Foreign LLC Name

Obtain a name reservation certificate and submit it with your foreign qualification requirements at the South Dakota Secretary of State. Your LLC’s legal name outside of South Dakota will be listed on the application, along with the name it will use in South Dakota. Take note of the requirements for naming your LLC. 

Check name availability at South Dakota’s business entity names and reserve your LLC name.

Step 2: Select South Dakota Foreign LLC Registered Agent

You’ll need a registered agent to form a foreign LLC in South Dakota and take note that a South Dakota 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 South Dakota Foreign LLC 

Fill out and submit a Foreign LLC Application for Registration form via email to [email protected] or by mail to Secretary of State Office, 500 E Capitol Ave, Pierre, SD 57501.

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 South Dakota.
• Date when your LLC will start operations in South Dakota.
• Credit card information on the last page of the form for the $150 application fee. 

The LLC cost in South Dakota, even for foreign LLCs will differ between online filing and by mail.

Step 4: Determine How Your South Dakota Foreign LLC is taxed

Foreign LLCs are also subjected to the South Dakota 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 South Dakota Foreign LLC Online

Filing South Dakota Foreign LLC by Mail

If you wish to register your foreign business LLC with the Secretary of State office, you can do that easily through mail.

• Download the Application form PDF on your computer system.
• Read all the instructions carefully and start to fill in the application form.
• Make sure that all the correct information in the mandatory spaces.
• Review your application before proceeding for submission.
• Attach the Certificate of Existence issued by the State of Original jurisdiction.
• Issue a money order of check for $765 as the filing fee for your application payable to the ‘Secretary of State’.
• Arrange all the documents together and mail it to the following address, Secretary of State Office 500 E Capitol Ave Pierre, SD 57501.

After Forming South Dakota Foreign LLC

Here are added things you need to accomplish after forming your South Dakota Foreign LLC

1. Obtain Business Licenses. Find the business licenses you’ll need using the Business License Search.
2. File LLC annual reports and Business Privilege Tax.
3. 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 a foreign LLC in South Dakota. 

How Much Does It Cost to Register a Foreign LLC in South Dakota

To register as a foreign LLC in South Dakota, you can file through mail by paying $765 or online by paying $750 to the South Dakota Secretary of State.

Forming a limited liability company (LLC) in South Dakota can be an attractive option for businesses that want to take advantage of the state’s favorable tax and legal environment. While the process of registering a foreign LLC in South Dakota is straightforward, there are certain costs associated with the registration process.

The cost of registering a foreign LLC in South Dakota depends on the type of LLC and the number of entities involved in the formation. For example, if the LLC is a single-member LLC, the cost is typically around $150. This cost includes the filing fee, the publication cost, and the statement of authority. The cost also includes the cost of obtaining a business license from the South Dakota Secretary of State.

If the LLC is a multi-member LLC, the cost is usually higher. This is because the LLC must file a separate statement of authority for each member. The filing fee for this is usually around $250. In addition, there may be additional costs associated with obtaining business licenses, such as the cost of a certified copy of the LLC’s Articles of Organization.

In addition to the filing fee and other associated costs, businesses may have to pay an annual franchise tax when registering a foreign LLC in South Dakota. This tax is based on the LLC’s total assets and is paid to the South Dakota Department of Revenue. The current franchise tax rate is 0.25%. However, there are certain exemptions to this tax, so businesses should check with the Department of Revenue to see if they qualify.

Once the LLC is registered, businesses will also have to pay an annual maintenance fee. This fee is typically around $50 and is due each year on the anniversary of the LLC’s formation. The fee must be paid in order to keep the LLC’s status active and in good standing.

In addition to the filing and maintenance fees, businesses may also have to pay a fee for professional services. This fee is usually paid to an attorney or other professional who assists with the formation of the LLC. The cost of these services varies depending on the complexity of the LLC.

In summary, the cost of registering a foreign LLC in South Dakota varies depending on the type of LLC, the number of entities involved in the formation, and the services provided. Businesses should research the fees associated with the formation process prior to registering their LLC. Doing so will help ensure that they are able to complete the registration process in a timely and cost-effective manner.

F.A.Qs

In Conclusion

Starting a foreign LLC in South Dakota 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.