Hassle-Free Business Setup
Business Entity Formation
Thinking of opening your own business?
Opening your own business is exciting and thrilling. It’s everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not.
Welcome to TaxWiselyUS, where we specialize in turning entrepreneurial dreams into thriving businesses through our New Business Formation services. Launching a new venture is a significant milestone, and we're here to ensure that your journey is not only exciting but also strategically planned for long-term success.
Find out if you need to register your business all situations
Your location and business structure determine how you’ll need to register your business. Determine those factors first, and registration becomes very straightforward.
For most small businesses, registering your business is as simple as registering your business name with state and local governments.
In some cases, you don’t need to register at all. If you conduct business as yourself using your legal name, you won’t need to register anywhere. But remember, if you don’t register your business, you could miss out on personal liability protection, legal benefits, and tax benefits.
IT’S UP TO YOU TO MAINTAIN AND STRETCH OUT THE “THRILL AND EXCITEMENT” PERIOD FOREVER.
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.
Register with federal agencies
Beneficial ownership information (BOI) reporting
Many companies in the United States have to report information about their beneficial owners – the individuals who ultimately own or control the company. This report is made to the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau of the U.S. Department of the Treasury. BOI reporting is a requirement of the Corporate Transparency Act of 2021.
Companies that are required to comply are called reporting companies. The majority of reporting companies must file their initial, updated or corrected reports by March 21, 2025. For additional information, refer to FinCEN’s BOI notice (PDF).
Beneficial ownership information reporting is not an annual requirement. A report only needs to be submitted once, unless the filer needs to update or correct information. FinCEN’s E-Filing system is simple, secure, and free of charge. Learn more about beneficial ownership information reporting at www.fincen.gov/boi.
Register with local agencies
If your business is a limited liability company (LLC), corporation, partnership, or nonprofit corporation, you'll probably need to register with any state where you conduct business activities.
Typically, you’re considered to be conducting business activities in a state when:
- Your business has a physical presence in the state
- You often have in-person meetings with clients in the state
- A significant portion of your company’s revenue comes from the state
- Any of your employees work in the state
Some states allow you to register online, and some states make you file paper documents in person or through the mail.
Most states require you to register with the Secretary of State’s office, a Business Bureau, or a Business Agency.