Most Georgia business owners are looking to make a profit. If you’re thinking of opening your own company in Georgia, many considerations should be taken before doing so.
In this article, we will discuss three main points to consider for the Georgia business formation: taxes, registration process, and licensing requirements, as well as the time it takes.
Georgia Business Formation Taxes
Georgia has a state income tax rate of six percent. This is lower than many states, but not all Georgia businesses have to pay the full amount each year.
Based on how much money the company makes in Georgia and where you are located within the state, it may be possible that you only need to pay three percent or less.
Registration Process For Your Business In Georgia and Licensing
In Georgia, you do not need to get a license from the state government before starting your business.
However, many Georgia entrepreneurs want to register their organization or LLC with the Secretary of State in order to reserve a name for themselves and show that they are established within the community. This filing is done through an online portal.
How Long Does Business Formation Take?
Once you have completed the Georgia secretary of state online process, your company will be officially registered within Georgia.
This is all that you need to do in order to satisfy Georgia business formation requirements. It should take around one to two days for them to approve this filing, and then it may take around seven business days, and additional fees may apply.