Checklist for setting up a subsidiary in the usa
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The document provides a step-by-step checklist for setting up a subsidiary in the U.S., covering essential processes such as registering the company, obtaining an Employer Identification Number (EIN), securing a business location, and complying with local regulations. It emphasizes the importance of financial separation between the parent company and subsidiary for accurate tax reporting. Additionally, it introduces OATS Offshore Accounting & Taxation Services, which offers finance and accounts outsourcing solutions to facilitate this process.
Checklist for setting up a subsidiary in the usa
- 1. We provide guidance and assistance and help you with the process of setting up a subsidiary in the U.S. Checklist for setting up a subsidiary in the U.S.
- 2. Step 1: Register your Company Register a business name ("Doing Business As") with the county recording office Contact the secretary of state's office to register your subsidiary company as a limited liability company or corporation. Complete all paperwork and pay the appropriate filing fees
- 3. Step 1: Register your Company Register your business name with the state that you choose Decide a state in which to register as each state has different ways to tax business so it’s a good idea to determine best state for you based on revenue projections and business model
- 4. Step 2: Employer Identification Number Apply for an Employer Identification Number through the Internal Revenue Service. Use this number on all subsidiary business documentation, such as tax returns, business banking and invoicing. EIN
- 5. Step 3: Location for your business Look for a business location that suits your needs Secure a lease for an appropriate time frame
- 6. Step 4: Local Regulations/Compliances Register for state and local taxes and obtain business licenses and permits Transfer all subsidiary stock to your business so you can maintain control of the subsidiary
- 7. Step 4: Local Regulations/Compliances Transfer all invoices, outstanding payments and tax records relating to the subsidiary to a new bookkeeping system Create separate balance sheets, income statements, sales sheets and budget reports for your parent company and subsidiary to maintain income separation for tax purposes and so you can better monitor the performance of each entity
- 8. About OATS Offshore Accounting & Taxation Services (OATS) offers customer-centric Finance & Accounts outsourcing solutions. Combining years of experience, cross-domain expertise and leveraging technology, OATS delivers cutting edge solutions to make ‘simplified accounting’ a reality Finance & Accounts Outsourcing Accounts Payable Tax Compliance Subsidiary Accounting Financial Consolidation Bank Reconciliation
- 9. About OATS With the right investments in technology tools, a capable team and a strong network comprising of Chartered Accountants, Cost Accountants, MBA Finance, company secretaries, OATS provides unique value to its customers. OATS is entirely committed to deliver a superior customer service experience and help you focus on you core business
- 10. Contact us OFFSHORE ACCOUNTING AND TAXATION SERVICES PRIVATE LIMITED Sujam, Survey No. 81/5B Plot No. 1, Chandragupta Housing Society, Behind Maharaja Complex Paud Road, Kothrud Pune – 411038. INDIA.