U.S. Business Formation Old Mar 2024

U.S. Business Formation

Leverage the QNR team to form a company in the United States, with a U.S. address and QNR as your agent and representative.

U.S. Business Formation

With over 15 years experience forming businesses in the United States, QNR can guide and support customers through each step of the process.

As a core service, QNR offers standard U.S. business formation packages to customers, which includes the following services:

Initial state filing of your business entity (as either a Limited Liability Company (LLC) or a Corporation);
Appointment of QNR as your in-state statutory agent (as required by state law);
Assignment of an Employer Identification Number (EIN) for your business from the U.S. Internal Revenue Service (IRS) (as required by U.S. law for tax purposes);
Establishment of your business with a U.S. address, for conducting day to day business;
Other documentation support for your business formation as needed (see details below).

Please read below for background and further detail on the business formation and support services we provide. With each of these standard services, your establishment will have an experienced consultant at its side to ensure and that your establishment remains in a continuous state of compliance.

Business Formation Detail

U.S. Business Formation:
The Details

With fifty different states in the U.S., where should a business start?

With many years experience filing and establishing businesses in various states, the QNR team has identified various benefits as well as drawbacks with respect to business formation in certain states. A list of observations QNR has accumulated through experience is below:

You may hear and/or read that some states, such as Nevada, Wyoming, etc., are very friendly towards businesses, and others, such as Florida, have the benefit of no state income tax. The QNR team agrees with these observations. However, please note that often times certain states (such as Florida) require annual filings throughout the life of your company, with gives you added cost, with steep fees and prompt dissolution of your company if the annual report and fees are not paid.
Other states/jurisdictions (such as Puerto Rico, as one example) have comparatively high fees and annual requirements, which may be a disadvantage for small to mid-size businesses, unless there is a specific purposes and business reason to form in that state;
Other states, such as Delaware, are known as business friendly for large corporate entities, and may provide various benefits and legal protections. QNR has worked with many companies established in Delaware, and we agree that larger companies, such as multi-national corporations, moving forward with business for these benefits and protections.
Through years of filing experience and support, the QNR team has found the state of Ohio to be a low cost, business friendly, best in class solution for business formation and long term business operations in the United States.

Please note that the QNR team is offering the observations above to further educate you as the customer, so you may make a more informed decision. This information does not constitute legal and/or tax advice on how to run your business. We ask you to please consult an experienced legal and/or tax specialist for further detail from a legal or tax perspective. Please see the QNR Terms and Conditions page for further details.

Business Formation in the State of Ohio:

Details and Benefits

The QNR team has found the state of Ohio, in the midwestern United States (the Midwest), to be the best overall solution for small to mid-size businesses, for numerous reasons:

The midwestern United States, including Ohio, has a low cost of living, and is comparatively very affordable overall from both a business and personal perspective;
The state of Ohio is relatively low in state tax, and has been very tax friendly in our experience;
From a state filing perspective, the state of Ohio is comparatively very hands off, with relatively low filing fees (which may amount to $100-125 depending on entity). Business may stay active perpetually. Only a single, initial filing is needed to form a business, and there are no required annual renewals and/or filing fees for your business to remain active and in good standing. The QNR team has overseen businesses that have stayed active and in good standing for up to 15 years with only a single, initial filing, with no further actions needed from a filing perspective;
The location of Ohio in the midwestern United States is an ideal hub from a distribution perspective, with a large portion of the eastern United States very accessible.

Given the experience and observations stated above, the QNR team offers formation services in the state of Ohio to customers.

QNR Business Formation and Support:

What We Offer

The QNR team provides business formation and support package for two main business entities commonly used in the United States;

Limited Liability Company (LLC): The LLC is a low maintenance, efficient business entity which separates the business owners(s) (normally called "Members") from the business operations, and offers some liability protection. From a tax perspective, there is much flexibility, as an LLC can be taxed either as a pass-through entity (with business income passing directly into the individual tax returns of the Members) or as a corporation (where an additional, separate tax return for the company would be required beyond that of the individual members). Due to the simplicity and efficiency of the business structure, the QNR has formed the vast majority of its businesses as LLC's, and recommends this as a preferred business entity.
Corporation: The QNR team has also incorporated businesses in Ohio. These entities commonly are seen with a suffix "Inc." or "Incorporated" following the business name. As stated above, these entities are a separate entity from any of the business owners (often called "Officers") and require an additional, separate tax return for the company beyond that of the individual business owners. With a corporation, shares are issued to share holders in accordance with the company's bylaws (the operating agreement of the company", and the owners have the flexibility to pay dividends out of the company to shareholders. If your business is a large, publicly traded company, or you intend to grow your business to the point of executing an initial public offering (IPO) with a major stock exchange to create a public traded company, this entity is for you. (Please note: As stated earlier, for large, publicly traded companies, the QNR team recommends that you consider researching the formation of your corporation in the state of Delaware before returning to QNR for support in this area. We can definitely help you incorporate in Ohio, but Delaware may be a better overall fit for your specific circumstances).

The details of the U.S. Business Formation packages for both LLC and Corporation are listed below:

For U.S. Business Formation of a Limited Liability Company (LLC) in the State of Ohio, United States:

Initial state filing of your business entity with the Secretary of State office in the State of Ohio; you will receive a Certificate of Formation / Articles of Organization (State of Ohio Certificate) for your LLC. This document is often a requirement for performing day to day business activities, such as working with banks, etc.
Appointment of QNR as your in-state statutory agent and representative to the State of Ohio (as required by state law);
Assignment of an Employer Identification Number (EIN) for your business from the U.S. Internal Revenue Service (IRS) (as required by U.S. law for tax purposes);
Establishment of your business with a U.S. address, for conducting day to day business. This business address will be in the Cincinnati, Ohio area within the state of Ohio;
As needed, the QNR team can provide a template for an Operating Agreement for Limited Liability Company in the State of Ohio, which outlines the management, structure, organization and operations of the company. This document is often a requirement for performing day to day business activities, such as working with banks, etc.

For U.S. Business Formation of a Corporation in the State of Ohio, United States:

Initial state filing of your business entity with the Secretary of State office in the State of Ohio; you will receive Articles of Incorporation (State of Ohio Certificate) for your LLC. This document is often a requirement for performing day to day business activities, such as working with banks, etc.
Appointment of QNR as your in-state statutory agent and representative to the State of Ohio (as required by state law);
Assignment of an Employer Identification Number (EIN) for your business from the U.S. Internal Revenue Service (IRS) (as required by U.S. law for tax purposes);
Establishment of your business with a U.S. address, for conducting day to day business. This business address will be in the Cincinnati, Ohio area within the state of Ohio;
As needed, the QNR team can provide a template for an Operating Agreement for the State of Ohio, which outlines the management, structure, organization and operations of the company. This document is typically used for an LLC, but may be used as a basis for completion of Corporate bylaws for your entity as needed. This document is often a requirement for performing day to day business activities, such as working with banks, etc.

Please note that the QNR team is offering the information on business formation above to further educate you as the customer so you may make a more informed decision. This information does not constitute legal and/or tax advice on how to run your business. We ask you to please consult an experienced legal and/or tax specialist for further detail from a legal or tax perspective. Please see the QNR Terms and Conditions page for further details.

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