What if I want to do business in more than one state?
If a corporation or LLC wants to conduct business in another state, there are steps it must take to do so. For example, if a business is formed in New York, and would like to transact business in New Jersey, it needs to qualify as a foreign corporation. New York would be its home state and it would be a foreign business corporation to New Jersey. Before it can start in New Jersey, it needs to have foreign qualification.
What are the requirements for a foreign qualification?
“A foreign business corporation may apply for authority to do business in the State of New York by filing an Application for Authority pursuant to Section 1304 of the Business Corporation Law.” –(http://ny.gov)
“A foreign limited liability company may apply for authority to do business in the State of New York by filing an Application for Authority pursuant to Section 802 of the New York State Limited Liability Company Law.” -(http://ny.gov)
Along with the Application for Authority, most states require a Certificate of Good Standing (also known as Certificate of Existence.) This certificate shows the new state that you are a current entity and you are up to date with your annual reports and state dues. Although each state varies, most states require certain information on the Application of Authority.
- BUSINESS NAME
- ORIGINAL STATE
- SERVICE OF PROCESS ADDRESS
- REGISTERED AGENT (DEPENDING ON THE STATE)
- ADDRESS TO BE MAINTAINED IN HOME STATE (LLC’S)
- WHERE THE ARTICLES OF ORGANIZATION ARE FILED (LLC’S)
HUBCO can file the Application for Authority for you as well as obtain a Certificate of Existence. Check with the state you are planning to do business in to see if there are licenses or permits that correspond to your business type that are required for the state and be sure to obtain them to conduct your business lawfully.
To obtain a Foreign Qualification/Certificate of Authority click link: https://www.corp-it-now.com/cert_authority.html
To obtain a Standing Certificate click link: https://www.inc-it-now.com/good_standing.html