Starting a Business in Kentucky
- How much to start a business in Kentucky?
- Starting costs vary by business type.
- Filings fees range from $8 to $40 plus agent fees.
- LLC costs $40 filing fee.
- Additional costs may include licenses, permits, insurance.
- Sole proprietors have lower startup costs than larger operations.
- Physical product businesses must register for sales tax.
- Check state portal for licenses and permits required for your business.
- Recommended using a service like Northwest ($29 + fees) to form an LLC.
Business Permit in Kentucky
- How much is a business permit in Kentucky?
- The main state-level permit or license in Kentucky is the sales tax permit, commonly called a seller’s permit.
- You must obtain a sales tax permit if you intend to sell or lease tangible personal property, services, and digital property that would ordinarily be subject to sales tax if sold at retail.
- Visit the Kentucky Business One Stop portal to obtain a sales tax permit.
- Additionally, Kentucky requires businesses in some industries and professions to have specific licenses.
- Physical product businesses must register for sales tax.
- Check state portal for licenses and permits required for your business.
Registering a Business in Kentucky
- How long does it take to register a business in Kentucky?
- Starting a business in Kentucky requires registering with the Secretary of State and Department of Revenue.
- You must choose a legal business structure and name.
- Costs vary by business type. LLC filing fees range from $8 to $40 plus agent fees.
- An LLC costs $40 to file.
- Sole proprietors have lower startup costs than larger operations.
- Additional expenses may include licenses, permits, and insurance.
- Physical product businesses need a sales tax permit.
- Check the state portal for required licenses and permits.
- Northwest ($29 + fees) is recommended to form an LLC.
- Ongoing costs include annual reports, franchise taxes, licenses, and permits.
- Expenses depend on assets, revenue, and business activities.
- LLC members may owe self-employment taxes.
- If selling tangible goods, obtain a sales tax permit.
- LLC benefits include liability protection and pass-through taxes.