In the United States, the legal framework for company formation is governed by state laws rather than federal laws. Each state has its own set of statutes and regulations governing business entities. The most common business structures include sole proprietorships, partnerships, LLCs, and corporations. The United States has a complex tax system, with federal, state, and local taxes. Companies are subject to federal corporate income tax on their profits, and individual states impose their own taxes on business income. Tax rates and regulations vary by jurisdiction.
To create a company in the United States:
- Choose a state of incorporation.
- However, the specific requirements and procedures for incorporation vary by state but generally involve filing articles of incorporation with a state agency