Failure to file this form could result in the state revoking your registration. Make sure to mark your calendars in advance so you don't forget. Regardless of the entity you file at the state level, you will have to file a Biennial Report every other year to keep the business registered and in good standing with the state. Please note that if you do ask, we will not respond. IASourceLink CANNOT tell you what kind of business entity you should file as. These blogs should help you understand the topic more, and have more targeted questions to ask a tax or legal professional. We did, however, create a few blogs that describe entities such as LLCs, Sole Proprietorships, S Corps and C Corps in other ways than this page. Before filing as an LLC, make sure you speak with a tax professional or legal professional as they can provide you with more in depth answers than we can provide here. This type of entity has different protections as it relates to debts/liabilities made by the members of the LLC, and may affect how you report income / losses on your taxes. It costs $50 to file your application if you are a domestic (Iowa company) and $100 if you are foreign (non Iowa company). If you aren't sure what kind of entity you want to file as, or are curious what the differences are, the Iowa Small Business Development Center has put together this informative document that discusses the differences in detail.ĭomestic and Foreign Limited Liability Companies both register with the Iowa Secretary of State's office. If you want to register as another type of business entity (example: Domestic LLC), you will register with the Iowa Secretary of State's office. If you want to start a sole proprietorship in Iowa, you will register with your county recorder's office. Some examples include but are not limited to, sole proprietorships, domestic and foreign limited liability companies, partnerships, and nonprofits. In Iowa, just like in most states, there are many options to choose from. When choosing the type of legal structure for your business, you'll need to consider factors such as how you will pay your taxes and how much personal liability exposure you will risk.
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