If you are thinking of register a construction company in Charlotte NC, You should know that after you have determined your business with the corresponding legal structure, you need to obtain the permits and licenses required by the government for your business to function legally. Keep reading and you will know the requirements to be able to make the registration effective.
Requirements for registering a construction company in Charlotte NC
You should think about the name of the construction company you want to register, which can be your first and last name or a business name that you choose to legally operate in Charlotte NC.
Choose the name for your company
Then you will need a tax identification number, a license, DBA or an LLC. Two of these requirements are essential for company registration.
Define the business structure of your business
Choose the legal business structure, think about whether you will be a sole proprietor, you will form a limited partnership, an LLC (limited liability company or a corporation.
Get the certificate of the type of company you adopted
Once you have defined the type of business structure, you must present the certificate of the structure, whether you have formed a limited liability company or a corporation.
Get the EIN
In turn, you need an EIN, that is, a tax identification number in addition to a business license.
The procedure can be done online by sending a form with all the information about your company.
Online you can also choose the necessary licenses in order to register a construction company in Charlotte NC. Well, in an easy way you will choose the license you require, for example if you form an LCC a DBA and you will choose an EIN for a business license.
After that, the availability of the name you have chosen for the LLC is checked together with the verification of the documentation presented.
You will receive the official registered certificates in your email from the information you have sent about your construction company.
-> see the other specific requirements on the official page https://charlottenc.gov/DevelopmentCenter/CommercialPlanReview/Pages/BuildingPermits.aspx
EIN to register a construction company in Charlotte NC
As an employer, you need a tax identification number called EIN and an employer identification number from the state, called SEIN.
In fact, since you have thought about forming a construction company that you need to register, the entity that is most recommended is the LLC or limited liability company.
LLCs like most companies and their employers need to obtain the EIN that as you could read, you will get it for free online and it does not take more than one or two weeks for the registration to become effective.
On the other hand, it is the identification that your business needs to present to government entities in order to pay taxes.
If you receive a letter or a notification from the IRS it may be because you have a balance to pay, more information about your tax return is necessary, or your identity needs to be verified,
- Upon receiving this notification, you should read it carefully because it will contain very important information and may even require you to respond within a date specified in the letter or notification.
- Remember that you should always pay as much as possible, because even if it is not the total debt, you can make the payment online or generate a request for a payment agreement online.
- Keep a copy of the letter with you because you may need it later.
- You should also keep in mind that licenses have an expiration date and therefore must be renewed according to local and state laws.
- As the construction company will surely have several taxes for which you will be required to withhold federal income tax from the wages of your employees.
In turn, you must take into account what the Federal Insurance Contributions Law suggests regarding Medicare taxes and the Federal Unemployment Tax Law that requires unemployment tax.
The tax register
In order to register a construction company in Charlotte NC You need to register for income tax withholding, sales tax, and unemployment insurance tax.
The law also requires the withholding corresponding to the salary tax, for which there is an expiration date to be paid in the department of income. This date will depend on the amount of taxes that are withheld per month.
In turn, depending on the amount of money withheld, the payment may be made monthly or quarterly.
As a subcontractor or contractor that makes contracts with a manufacturing plant or an industry, you must remit and record a 1% tax for the purchase of machinery or machine parts.
The building permit can be purchased at the construction and planning department from the county or city, as it is a permit that is required if you are building or in the event that you find yourself modifying the place of business.
Definitely registering a construction company in Charlotte NC is not as complicated as you could have imagined, especially after having had with you the step by step to stay within the regulations that imply the obligation to comply to avoid fines.
-> To see more information about construction permits and licenses, check: https://www.bloghispanodenegocios.com/obtener-permisos-licencias-construccion/