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Kentucky
Corporate Name Endings
- The corporate
name must be distinguishable upon records of Secretary of State from
the name of existing business entities filed with the Secretary of State.
The corporation may use one of these names if another corporation consents
in writing or in certain other enumerated cases. The name must include
the word "Corporation," "Incorporated," "Company," "Limited," or an
abbreviation thereof. The name shall not contain language stating or
implying the corporation is organized for a purpose other than that
permitted by the act or the articles.
Corporation Requirements
- Director Information
- Minimum Number - One or more.
- Residence Requirements - No provision.
- Age Requirements - None.
- Directors are not required to be listed in the articles
of incorporation.
- Officer Information
- Officers are
not required to be listed in the articles of incorporation.
- Stock Information
- An increase
in shares may cause an increase in initial filing fees.
- Corporate Records
- The articles
of incorporation, bylaws, minutes of shareholders' and directors'
meetings, financial statements furnished for the past three years,
a list of directors' and officers' names and addresses, and the
most recent annual report must be kept with the corporation's records.
Taxes and Fees
- Annual Statements
- Statements
must be filed with the Secretary of State by the last day of June
annually, setting forth the corporation's name, the state where
it is incorporated, the address of the registered office of the
corporation, the registered agent's name, and the names and business
addresses of directors and principal officers. The fee is $15.
- Income Tax Rate
- The tax rate
is 4% of the first $25,000 of taxable net income, 5% of the next
$25,000, 6% of the next $50,000, 7% on the next $150,000 and 8.25%
of all income over $250,000
- S Corporation
- S Corporation
status is recognized by the State of Kentucky. A separate state
election from the federal election is not required.
- License Requirements
- Kentucky requires
that you obtain a license and pay a fee if operating certain types
of businesses in the state. The following is a partial list:
- Agents
- Architects
- Auctioneers
- Barbers
- Companies
- Driver
- Engineers
- Insurance
- Loan
- Pharmacists
- Plumbers
- Real estate
- Salespeople
- Schools
- Training
Please check with the state to make sure your business is complying
with the license requirements for your particular profession.
For more information on taxes, visit
http://revenue.state.ky.us.
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