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Georgia is a state in the Southeastern Region of the United States. Georgia is bordered to the North by Tennessee and North Carolina, to the Northeast by South Carolina, to the Southeast by the Atlantic Ocean, to the South by Florida, and to the West by Alabama.
The area of Georgia is 59,425 square miles (153,909 km2), Georgia is the 24th-largest in area of the 50 United States
Georgia's 2019 estimated population was 10.62 million according to the U.S. Census Bureau.
English is the official language of Georgia, about 90% of Georgia residents speak English at home. Other common languages are Spanish (>7%), Korean, Vietnamese, French, Chinese, German, etc.
The Government of Georgia is the governmental structure as established by the Georgia State Constitution. It is a republican form of government with three branches:
According to The Bureau of Economic Analysis, the GSP of Georgia estimates for 2019 was $539.54 billion. Georgia's per capita personal income in 2019 was $50,816.
For years Georgia as a state has had the highest credit rating by Standard & Poor's (AAA). For the five years through November 2017, Georgia has been ranked the top state (number 1) in the nation to do business.
There is a rapid growth in finance, insurance, technology, manufacturing, real estate, service, logistics, transportation, film, tourism, etc in Atlanta - the capital of Georgia.
Currency:
United States Dollar (USD)
The business laws of Georgia are user-friendly and often adopted by other states as a standard for testing business laws. As a result, the business laws of Georgia are familiar to many lawyers both in the US and internationally. Georgia has a common law system.
One IBC supply incorporation in Georgia service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.
The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.
The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";
No public register of company officers.
Read more:
How to start a business in Georgia, USA
Share Capital:
There is no minimum or a maximum number of authorized shares since Georgia incorporation fees are not based on the share structure.
Director:
Only one director required
Shareholder:
Minimum number of shareholders is one
Georgia company taxation:
Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.
Local Agent:
Georgia law requires that every business have Registered Agent in the State of Georgia who may be either an individual resident or business that is authorised to do business in the State of Georgia
Double Taxation Agreements:
Georgia, as the state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimised by providing credits against Georgia taxation for taxes paid in other states.
In the case of corporate taxpayers, double taxation is minimised through allocation and appointment rules related to the income of corporations engaged in multi-state business.
Generally, the application for business license shall be submitted at the Office of Revenue and the Zoning Division in Atlanta, GA.
**$75 non-refundable registration fee made payable to the City of Atlanta;
**$50 non-refundable zoning review fee made payable to the City of Atlanta.
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In Georgia, businesses are asked to renew each year. Failure to renew your business license by February 15 of each year will result in a $500 Failure to File penalty. Payments for your renewal will be invoiced to you after receipt of your renewal license application. The payment deadline is on or before April 1. Any payment received after April 1 will be subject to a 10% penalty of your total license fee plus interest at 1.5% per month.
Businesses failing to renew their business license and that continue to operate are subject to citation requiring the business to appear before the Court for operating without a City of Atlanta business license.