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 growing your company and expanding into new states.
Typically, that involves registering as a foreign company with the new location’s Secretary of 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 finally, workers’ compensation insurance laws may be different, so make sure you secure coverage when it’s required. Your tax professional can provide guidance you may need.