Opening a Company in North Dakota

Opening a Company in North Dakota LLC or Corporation

Starting a business in North Dakota: a great investment opportunity. North Dakota, a small state in America, has recently gained attention.

Three actions are required to open a company in North Dakota: appointing a Registered Agent, choosing the company name, and filing the Articles of Incorporation with the North Dakota Business Registration Unit.

The Articles of Incorporation must include:

Company Name, including the type of company (LLC, Inc, or Corp)

Legal Address in North Dakota [can be provided by ExportUSA]

Name and address of the Registered Agent and Incorporator in ND

Company Purpose

Number of Shares for which authorization is requested from the North Dakota Business Registration Unit

Note: In North Dakota, having Bylaws [Company Statutes] is unnecessary. By August 1st, the Annual Administrative Report must be filed each year to confirm the company details.

North Dakota Taxation

The corporate net income tax rates in North Dakota are:

Income From $0 to $25,000: 1.41%

Income From $25,001 to $50,000: 3.55%

Income Over $50,000: 4.31%

The Sales Tax rate in North Dakota is 5%, with a maximum local addition of 3.5%. North Dakota has a graduated state income tax, with rates ranging from 1.10% to 2.50% for incomes over $225,975.

There are no estate or inheritance taxes in North Dakota.

Overview of North Dakota's Economy

In 2023, North Dakota had a population of 788,888.

The Gross Domestic Product (GDP) of North Dakota in 2023 was $55.1 billion [up from $54.8 billion in 2022]

In 2023, North Dakota businesses employed 471,052 people.

The unemployment rate in North Dakota was 2.3% in 2023

The major industries in terms of revenue in North Dakota are Oil Drilling & Gas Extraction and Petroleum Refining, generating sales of $50.1 billion and $7.4 billion respectively in 2023

Since 2010, North Dakota has emerged as a unique example of economic development in America. The discovery of oil and natural gas fields has attracted major oil companies for resource exploitation.

In the United States, North Dakota is a rapidly expanding state with excellent investment opportunities to start a business selling industrial goods, equipment, parts, and components for oil exploration and extraction, opening a restaurant or bar, distributing food and wine products, or selling construction materials and building supplies. Unlike other states, competition is lower and sales opportunities are greater.

Export Services

Opening a company in the USA

ExportUSA opens US incorporated companies in all of the United States. We can open both LLCs and corporations

https://www.exportusa.eu/opening-a-company-exportusa.php

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