Louisiana (United States of America)

Louisiana is a state in the Deep South region of the South Central United States. Louisiana is bordered by the state of Texas to the West, Arkansas to the North, Mississippi to the East, and the Gulf of Mexico to the South. A large part of its eastern boundary is demarcated by the Mississippi River. Louisiana is the only U.S. state with political subdivisions termed parishes, which are equivalent to counties. The state's capital is Baton Rouge, and its largest city is New Orleans.

Louisiana has a total area of 52,069.13 square miles (135,382 km2).

Population

The estimated population of Louisiana was 4,648,794 people as of 2019, the 25th most populous of the 50 U.S. states.

Language

English is the main language in Louisiana, with >90% of the population speaking only English at home, about 4% speaking French, 3% speaking Spanish, and 0.6% speak Vietnamese.

Political Structure:

The Government of Louisiana is the governmental structure as established by the Constitution of Louisiana. Louisiana government, as at the national level of government, power is distributed among three branches: legislative, executive, and judicial.

• The legislature of Louisiana is the General Assembly, a bicameral body consisting of the Senate and the House of Representatives;
• The Executive branch headed by the Governor;
• The highest judicial power is the Supreme Court of Louisiana.

In 2019, the real GDP of Louisiana was about 240.48 billion U.S. dollars. The GDP per capita of Louisiana was $51,729 in 2019.

Tourism plays a major part in the economy of Louisiana, especially in the New Orleans area. Louisiana is also rich in petroleum and natural gas. Other industrial sectors of Louisiana are manufacturing, business services, education and healthcare services, retail trade, etc. Louisiana was ranked as one of the most small business friendly states, based on a study drawing upon data from more than 12,000 business owners.

Currency:

United States Dollar (USD)

The business laws of Louisiana are user-friendly and often adopted by other states as a standard for testing business laws. As a result, the business laws of Louisiana are familiar to many lawyers both in the US and internationally. Louisiana has a common law system.

Type of Company/Corporation:

One IBC supply incorporation in Louisiana service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.

Business Restriction:

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.

Company Name Restriction:

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";

• May contain the name of a member or manager;
• Must be such as to distinguish it upon the records in the office of the Secretary of State from the name on such records of any corporation, partnership, limited partnership, statutory trust or limited liability company reserved, registered, formed or organized under the laws of the State of Louisiana or qualified to do business.
• May contain the following words: "Company," "Association," "Club," "Foundation," "Fund," "Institute," "Society," "Union," "Syndicate," "Limited" or "Trust" (or abbreviations of like import)

Company Information privacy:

No public register of company officers.

Just 4 simple steps are given to start a business in Louisiana:

• Step 1: Select basic Resident/Founder nationality information and other additional services that you want (if any).
• Step 2: Register or log in and fill in the company names and director/ shareholder(s) and fill in the billing address and special request (if any).
• Step 3: Choose your payment method (We accept payment by Credit/Debit Card, PayPal, or Wire Transfer).
• Step 4: You will receive soft copies of necessary documents including Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc. Then, your new company in Louisiana is ready to do business. You can bring the documents in the company kit to open a corporate bank account or we can help you with our long experience of Banking support service.

* These documents required to incorporate a company in Louisiana:

• Passport of each shareholder/beneficial owner and director;
• Proof of residential address of each director and shareholder (Must be in English or certified translation version);
• The proposed company names;
• The issued share capital and par value of shares.

Read more:

How to start a business in Louisiana, USA

Share Capital:

There is no minimum or a maximum number of authorized shares since Louisiana incorporation fees are not based on the share structure.

Director:

Only one director required

Shareholder:

Minimum number of shareholders is one

Louisiana 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.

• Us Federal Taxation: US Limited Liability companies structured for partnership tax treatment with non-resident members and which conduct no business in the US and which have no US-source income are not subject to US federal income tax and are not required to file a US income tax return.
• State Taxation: US limited liability companies that conduct no business in the recommended states of formation with non-resident members are generally not subject to state income tax and are not required to file a state income tax return.

Financial statement

Local Agent:

Louisiana law requires that every business have Registered Agent in the State of Louisiana who may be either an individual resident or business that is authorised to do business in the State of Louisiana

Double Taxation Agreements:

Louisiana, 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 Louisiana 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.

License Fee & Levy:

LLC formation cost: $165 by mail or $160 online (one-time fee).

Read more:

• Louisiana trademark
• Louisiana business license

Payment, Company return due date:

For both LLC and corporation, your Louisiana Annual Report is due every year on the 15th day of the 4th month following the tax closing month. Example: If your tax closing month is December (which it is for most people), your due date is April 15th of the following year.

The filing fee for the annual report is $55.