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Washington is a state in the Pacific Northwest region of the United States. Named for George Washington, the first U.S. president, the state was made out of the western part of the Washington Territory, in accordance with the Oregon Treaty in the settlement of the Oregon boundary dispute. The state is bordered on the west by the Pacific Ocean, Oregon to the south, Idaho to the east, and the Canadian province of British Columbia to the north. Olympia is the state capital; the state's largest city is Seattle. Washington is often referred to as Washington state to distinguish it from the nation's capital, Washington, D.C.
Washington has a total area of 71,362 square miles (184,827 km2).
The United States Census Bureau estimates Washington's population was 7,614,893 in 2019.
In 2010, 82.51% of Washington residents age 5 and older spoke English at home as a primary language, while 7.79% spoke Spanish, 1.19% Chinese, 0.94% Vietnamese, 0.84% Tagalog, 0.83% Korean, 0.80% Russian, and German, 0.55%. In total, 17.49% of Washington's population age 5 and older spoke a mother language other than English.
The government of Washington State is the governmental structure of the State of Washington as established by the Constitution of the State of Washington.
According to The Bureau of Economic Analysis, Washington had a gross domestic product (GDP) of US$ 569.449 billion in 2018. Its per capita personal income was US$ 62,026.
Washington state is the nation's largest concentration of STEM (science, technology, engineering and math) workers. The state has a large volume of seaborne foreign trade with Asia. Leading economic sectors are Government, Real Estate and Rental Leasing, and Information; manufacturing comes fourth (8.6% of the state's GDP). Fruit and vegetable production, and hydroelectric power, are other important sectors. Important firms based in Washington include Boeing, Starbucks and Microsoft.
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The corporate laws of Washington are user-friendly and often adopted by other states as a standard for testing corporate laws. As a result, the corporate laws of Washington are familiar to many lawyers both in the US and internationally. Washington has a common law system.
One IBC supply incorporation in Washington 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.
Just 4 simple steps are given to start a business in Washington:
* These documents required to incorporate a company in Washington:
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How to start a business in Washington
There is no minimum or a maximum number of authorized shares since Washington incorporation fees are not based on the share structure.
Only one director required
Minimum number of shareholders is one
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.
Financial statement
Washington law requires that every business have Registered Agent in the State of Washington who may be either an individual resident or business that is authorised to do business in the State of Washington
Washington, 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 Washington 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.
A non-refundable Business License Application processing fee is required for each application received in addition to applicable endorsement or trade name fees. The fee for opening the first location of a new business/UBI in Washington state is US$ 90.
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The date your taxes are due depends on your reporting status. Your reporting status indicates how often you are required to file taxes and is listed on your business license.
This table summarizes Washington business license tax due dates for each reporting status:
Reporting status | Period | Tax return due date |
---|---|---|
Annually | Calendar year ends Dec. 31 | April 15 |
Quarterly | 1st quarter ends March 31 | April 30 |
2nd quarter ends June 30 | July 31 | |
3rd quarter ends Sept. 30 | Oct. 31 | |
4th quarter ends Dec. 31 | Jan. 31 | |
Monthly | March 31, for example | 25th of the following month: April 25, for example |