Are you considering forming a business in Mississippi and don’t know where to start? We routinely help people form businesses and advise them about the best structure for their businesses as well as provide other things a business owner should consider when setting up and running their business.
We frequently get calls from individuals looking for “just a little help” with figuring out what they need to do to form a business in Mississippi. Forming a business in Mississippi can mean forming a Mississippi Corporation (either an “S” Corporation or a “C” Corporation), forming a Mississippi Limited Liability Company (LLC), forming a Mississippi General Partnership (GP), forming a Mississippi Limited Partnership (LP), forming a Mississippi Limited Liability Partnership (LLP), or forming one of a few other specialized types of entities. The filing requirements both initially and as the business continues differ depending on what type of entity is established, but generally speaking, the necessary forms to form your business and obtain the necessary tax identification number and business licenses can be found below:
Do you need to form a Mississippi corporation?
The appropriate forms for forming a Mississippi Corporation with the Mississippi Secretary of State are located here.
Do you need to form a Mississippi Limited Liability Company (LLC)?
The appropriate forms for forming a Mississippi Limited Liability Company (LLC) with the Mississippi Secretary of State are located here.
Do you need to form a Mississippi partnership?
The appropriate forms for forming a Mississippi General Partnership, a Mississippi Limited Partnership and a Mississippi Limited Liability Partnership with the Mississippi Secretary of State are located here.
Do you need a tax identification number (an “EIN”) for your business?
The Form SS-4 necessary to apply for an EIN is located here. You can even Apply for an Employer Identification Number (EIN) Online.
Do you need a Mississippi sales tax permit?
You can register your business with the Mississippi Department of Revenue and apply for a sales tax permit here.
Are you a contractor in the State of Mississippi and need a Material Purchase Certificate (MPC) to benefit from reduced sales tax rates?
Do you need a permit to do business in the location you have chosen for your business?
Do you need an operating agreement, bylaws, corporate minutes, employment agreement, buy-sell agreement, etc. for your business?
The Mississippi Bar Association does not allow us to post these types of legal agreements online but any Google search for these items is very likely to produce numerous results. (Disclaimer: I have not reviewed the search results for the terms listed, nor any other business agreements and cannot, therefore, provide legal advice as to whether or not they would be sufficient for your business or your objectives for such agreements.)
So why am I giving you all of this information for free?
First off, everything about business formation above is public information and is already available on the internet. But more importantly, filling out and filing a few forms with the appropriate entities is really the easy part of what we do. The hard part is determining what business structure is best suited for our clients’ needs and how we can best use the business structure we choose to reduce the income tax burden on the entity and the owner, reduce the sales tax burden on the entity and the owner, limit the liability of the business, limit the liability of the owners of the business, and make sure our clients have the knowledge they need to stay in compliance with all federal, state, and local bodies going forward.
We also understand that your business will very likely entail hiring employees, working with contractors, and/or adding partners. You may also want to look at expanding into other cities and/or states that have their own filing requirements. We work with our clients to make sure their businesses have solid foundations so that as they expand and bring more people into the business, their businesses are ready to make that next step.
If you are considering starting a new business, contact us to set up a consultation and find out how our firm can help you!