10 Reasons To Open Company In Georgia

Why should an LLC be formed in Georgia? The following list of five reasons demonstrates the best advantage of this state:

10 Reasons to Open Company in Georgia

1. Low Corporate Income Tax Rate (8%)
   Georgia has a low corporate tax rate and does not require minimum taxes- unlike Delaware, it is the most popular for business incorporation because it does not have any corporate income tax.
2. Stable Tax Regime
   Georgia’s tax system is not subject to change as it is fixed by law, so no unexpected increases are possible.
3. No Personal Income Tax
   Unlike some other states that may tax individuals on business income or dividends, there is no personal income tax in the state of Georgia for an LLC.
4. No Franchise Tax
   Georgia does not tax LLC’s on a franchise or capital stock. As a result, new businesses do not have to pay any taxes on their initial investment, which can be significant for startup companies looking to raise money from investors and establish themselves as a new business entity in the qualified state of Georgia.
5. No Investment Restrictions
   Georgia does not require investment restrictions to start a business in the state- unlike some other states that may have a minimum capital requirement for LLCs starting a business.
6. No Corporate Names
   The state of Georgia does not require LLCs established in the state to come up with a certain name. This means that business owners can choose any name they like, unlike Delaware, which requires special naming conventions for LLCs established in the state.
7. No Annual Fees or Annual Reports Required
   Georgia does not require annual reports or fees for LLCs to be established in the state. In addition, there are no annual reports or yearly fees once a business is established- unlike California that requires an annual fee of $800 just to maintain a corporation status from the state of California after being formed.
8. Business Flexibility
   In Georgia, businesses have flexibility in operating and managing their business- unlike some other states such as California, which require a board of directors for any corporation.
9. No Mandatory Meetings for LLC’s
   In Georgia, there are no mandatory meetings or voting requirements on behalf of an LLC after it is incorporated, unlike Delaware, where corporate governance may be Open Company in Georgia certificate of incorporation and bylaws to establish meeting requirements and voting rights.
10. LLC’s May Be Managed Outside the State of Georgia:
    An LLC established in Georgia may be managed from outside- unlike Delaware, which requires all businesses, including an LLC, to be managed inside the state.

As can be seen from the above list, operating a business in the state of Georgia is fairly simple.