The cost to register a business name in Mississippi depends on the structure you choose. While an LLC (limited liability company) costs $50 to file with the Secretary of State, a corporation or partnership may have additional fees.
Name Reservation and Company Naming Rules
Name Reservation: If you’re planning to register a business in Mississippi, one option is to reserve your desired business name through the Secretary of State’s office. This reservation will be valid for 180 days and can be completed either online or by mail.
Mississippi law explicitly states that your LLC’s name should not be “misleadingly similar” to the names of other businesses on record with the Department of Assessments and Taxation. Your company name must contain the phrase “Limited Liability Company” or any of its abbreviations (L.L.C. or LLC). Your company should not include words or phrases that might make the public confuse your company with a government agency.
Business Licenses and Permits
Depending on where your LLC does business in Mississippi and the industry you’re in, you may need to obtain additional Business Licenses or Permits. For example, you may need to get a City Business Permit.
You can find more details about naming your business in Mississippi by looking at the statutes for naming businesses in Mississippi or get yourself a registered agent service that can help you with your business name search.
Mississippi tends to rank low on lists of the best states for business, mostly due to poor infrastructure and weak innovation. However, Mississippi ranks among the best when it comes to cost of living and cost of doing business, which means that Mississippi is a very affordable state for entrepreneurs.
It’s free to apply for an EIN, and you should do it right after you register your business. Your business needs a federal tax ID number if it files tax returns for employment, excise, alcohol, tobacco, and firearms.
Once registered, there are additional expenses that should be covered, including licenses, permits, and other business documents. Mississippi has fewer requirements and does not impose a state income tax.
The franchise tax in Mississippi costs $2.50 per $1,000 of capital used in the state. Mississippi does not have a franchise tax for LLCs.
Taxes for an LLC Include:
- Social Security Tax: 12.4%
- Medicare Tax: 2.9% (applied to net self-employment income).
The business term DBA (doing business as) in Mississippi is any registered name that a person or company uses that is not the legal name. A DBA costs $25 to register with the Mississippi Secretary of State.
Registering an LLC in Mississippi
It costs $50 to start a Mississippi LLC. This is a one-time filing fee for the LLC Certificate of Formation. Before reserving a business name, check if the name is available and complies with state regulations.
In Mississippi, you file the Certificate of Formation for your LLC online. Along with this, you also need to submit a fee of $50 to the Secretary of State. Every LLC in Mississippi is required to appoint a registered agent. This individual or entity is responsible for receiving any legal documents on behalf of your LLC. Professional registered agent service in Mississippi can cost you between $40-$125.
You can pay $25 to file a Name Reservation form, which reserves your business name for 180 days, if you want to secure your business name before forming your Mississippi LLC. Foreign LLCs are required to submit a Foreign Qualification or a Certificate of Authority or Compliance from the Mississippi Secretary of State and pay a fee of $500.
The cost of creating an LLC in Mississippi is between $150 to $200, including a registered agent service that can range from $99 to $150.
Steps To Start An LLC In Mississippi
- Pick A Name For Your LLC.
- Appoint a Mississippi Registered Agent.
- Form Your LLC.
- Create a Mississippi LLC Operating Agreement.
- Obtain An EIN.
- Comply with State Tax Obligations.
- Follow Ongoing Requirements.