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On Target Financial


5301 SW 7th Street, Topeka, KS 66606


Phone:  785-272-5000

Fax:      785-272-6725


Joseph G. Prokop, CFP®, CRPC®



May/June 2022

Expanding Your Business into Other States?

If you’re ready to take your business to the next level, congratulations.

In addition to logistical and operational plans, there are a few administrative tasks to tackle when expanding into new states. Just like when you formed your business in your home state, you’ll need to do something similar in the new state. Typically, that involves registering as a foreign company with the new location’s Secretary of State. This grants you the right to do business in the new state.

Also, check whether your existing insurance policies for things like business liability and automobiles will cover your operations in the new locale.

If expanding means hiring employees in the new state, you’ll want to register with the Department of Revenue for employment tax purposes. And lastly, workers’ compensation insurance laws may be different, so make sure you secure coverage when it’s required.

Consult your tax professional regarding laws in the new state.


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Investment advisory services offered through Cambridge Investment Research Advisors, Joseph Prokop, Investment Adviser Representative. Cambridge and On Target Financial are not affiliated.
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