Schwartz Financial Associates logo

Schwartz Financial Associates, Inc

 

701 Route 73 North, Suite 6, Marlton, NJ 08053

Phone: (856) 216-0390

 

Website: www.schwartz-financial.com

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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Registered Representative offering securities through Cetera Advisor Networks LLC, member FINRA/SIPC, a broker/dealer and a registered investment adviser. Cetera is under separate ownership from any other named entity.
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