Starting business in the US
Step by Step

To file an application for an Immigrant Business Visa you need to lead a business in the US. Here we offer you a short algorithm of how to start a business from an idea to a smoothly functioning company.

Follow these steps to start a business in the US. Each step is explained in more details at the end of this page

1

Market research
Ensure your business idea is viable

2

Business plan
This will form part of your application

3

Choose your company’s legal form
This decision affects company formation procedure, financial and legal liability and tax system

4

Pick Business Location
In the USA your business location will affect your taxes, legal requirements, and costs.

5

Get a Company Registered
In the consulting world, our results driven approach was a unique

6

Get a Tax ID number
You need it to open a bank account and apply for licenses

7

Open a bank account

stay connected with us

We Work with You to Help you Structure your Business

Market research

Market research will show if you may turn your idea into a fruitful business. You will know the competitors in your area and free business niches. You may find data and statistics on business spheres here: https://www.usa.gov/statistics.

Business plan

Business plan is the roadmap of how to start and evolve a business. In addition, it shows other people (investors and government officials) how you are going to structure and run your business, and get profits.
If you may consider to buy a franchise, please, check the consumer guide with Federal Trade Commission: https://www.ftc.gov/tips-advice/business-center/guidance/consumers-guide-buying-franchise

Company’s Legal Form

Choose the legal form for your business as it affects company formation procedure, financial and legal liability and tax system. The most popular legal forms for a small business are Limited liability Company (LLC) and Corporation.

In LLC, the members do not pay corporate tax as their profits are taxed as personal income. However, members of an LLC are considered self-employed and should pay self-employment tax contributions towards Medicare and Social Security.

Unlike LLC, corporations pay income tax on their profits. In some cases, corporate profits are taxed twice — first, when the company makes a profit, and once more when dividends are distributed. The cost to form a corporation is higher than other legal forms. Corporations also require more difficult bookkeeping, operational processes, and reporting. Check with IRS for taxes: https://www.irs.gov/businesses/small-businesses-self-employed/business-taxes

Business Location

The place where you are going to run business could affect your taxes, legal requirements, and costs.

Study the tax rates in the state, county and city of the planned business location.  Income tax, sales tax, property tax, and corporate taxes can differ from place to place. Some states have lower tax regimes that are very friendly to certain kinds of companies.

Costs that can differ considerably by place include standard salaries, minimum wage rules, property prices, business insurance rates, and government licenses and fees.

You may check the states that do not have income tax here: https://www.irs.com/articles/state-income-tax-vs-federal-income-tax

Get a Company Registered

Business location and a chosen legal form define how you will need to register your Company.

If your business is a LLC, corporation, partnership, you’ll  need to register with any state where you conduct business activities. In some states you can get the Company registered online, and in other you have to file documents in person or via the mail.

In most of the states the Company is registered by the Secretary of State’s office. Here are the links to the websites of most popular states:

California: https://www.irs.com/articles/state-income-tax-vs-federal-income-tax/

Florida: https://dos.myflorida.com/sunbiz/start-business/

Massachusetts: https://www.mass.gov/guides/starting-a-new-business/

New York https://www.dos.ny.gov/corps/

Pennsylvania https://www.corporations.pa.gov/

Get a Tax ID number

The Company must get a tax ID number called  Employer Identification Number (EIN). You need it to open a bank account, apply for licenses and permits, and to pay taxes.

You should apply for EIN just after you register the Company here:

https://sa.www4.irs.gov/modiein/individual/index.jsp

Open a bank account

Open a business account when you’re ready to start accepting or spending money as your business.

Opening a business bank account is quite easy. Just pick up the bank, contact them online or via the local branch. And get the required documents ready. Usually, the bank asks for Employer Identification Number (EIN),  corporate documents and business license, If any.

You may check and compare the banks here: https://www.bankrate.com/