In order to set up a business in Kentucky you may have to file formation documents with the Kentucky Secretary of State, depending on the legal structure of your business. According to the Kentucky Secretary of State, a sole proprietorship does not have to file with the Secretary of State. But if the sole proprietorship operates under an assumed name it must file the assumed name with the county clerk.
A general partnership is not required to file with the Kentucky Secretary of State. But if the general partnership operates under an assumed name, that name must be registered with the Kentucky Secretary of State and the county clerk.
If your business is set up as a limited partnership, limited liability partnership, limited liability limited partnership, or limited liability company (LLC), it must be registered with the Kentucky Secretary of State. This also applies to these same entities formed outside of Kentucky that want to conduct business in Kentucky.
Before officially forming your business entity, you can use the Name Availability Search tool on the Kentucky Secretary of State website to see if the name you want to use is available.
On the Kentucky Secretary of State Business Services website you can find the forms for registering your entity. There are different forms for each type of legal entity. A limited liability company must file its articles of organization. A limited partnership must file a certificate of limited partnership. And a limited liability partnership must file a statement of qualification. The fee for each of these filings is $40.
A foreign business entity, including limited liability companies, limited partnerships, and limited liability limited partnerships formed outside of Kentucky must file a certificate of authority. The filing fee is $90. The entity must have a registered office in Kentucky and it must be a street address, not a P.O. box.
In order to transact business in Kentucky, the entity must have a registered agent. The registered agent can be an individual resident of Kentucky, a Kentucky domestic legal entity, or a foreign entity authorized to transact business in Kentucky.
All limited liability companies, limited partnerships, and limited liability limited partnerships registered in Kentucky are required to file an annual report. Annual report postcards are sent in January and the annual report is due by June 30. Annual reports can be filed online on the Kentucky Secretary of State Business Services website. There is a $15 fee for filing the annual report.
You can register a business entity in Kentucky using the Online Business Registration on the Kentucky One Stop Business Portal. You can use this same online registration to file a Kentucky Tax Registration Application with the Kentucky Department of Revenue. Depending on the type of business you operate, you could be subject to state sales tax, withholding tax if you have employees, or other types of taxes.
According to the Kentucky Department of Revenue, limited liability pass-through entities doing business in Kentucky are subject to a state income tax. The limited liability entity tax is the lesser of $0.095 per $100 of Kentucky gross receipts or $0.75 per $100 of Kentucky gross profits. There is a small business exclusion if gross receipts or gross profits from all sources are $3 million or less.
Sources:
Business Entities, Kentucky Secretary of State
Business Information, Kentucky Department of Revenue
Business Services, Kentucky Secretary of State
Corporate Income Tax, Kentucky Department of Revenue
Online Business Registration, Kentucky One Stop Business Portal
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