What are the responsibilities of a foreign corporation?
Similar to your responsibilities to the state of Delaware, registering in another state as a foreign corporation comes with its attendant responsibilities.
- Each state charges an initial cost to qualify, followed by an annual filing fee to maintain your registration. Some states also require periodic information forms for a filing fee.
- Once you are registered you become responsible for the applicable annual franchise tax for that state. (This is a fee for the right to do business, separate from any income tax the company may owe in each state.)
- You may need to apply for a local business license as well as any special permits and licenses for your field of business (e.g. construction, architecture, accounting, food service, medical, etc.). [Gust Launch does not handle these matters.]
- Assuming you act as your own registered agent in the foreign state and do not use a third-party registered agent, you will be responsible for accepting and responding to all state correspondence and official notice at the address listed on your application.
- The address you register becomes a public record and you likely will receive solicitations at that address. If you prefer to use a separate address, our partner Harvard Business Services can arrange to serve as your registered agent in your home state for a reasonable annual fee.