If you're planning to open your own limited liability company in Mississippi, chances are you already have a business plan. However, the question of how much an LLC in Mississippi costs might still be relevant for you.
In this article, we'll get to the bottom of the following questions:
If you're looking for step-by-step instructions on registering an LLC in Mississippi, you can find them in this article.
Table of Content
If you plan to run a business in the state, here's a list of the main Mississippi LLC fees to consider.
|Certificate of Formation||$50|
|Application for Registration of Foreign Limited Liability Company (for a foreign LLC)||$250|
|Annual Report (for local LLCs)||$0|
|Annual Report (for foreign LLCs)||$250|
|Fictitious Business Name Registration (DBA)||$25|
|Certified Document Copies||$45|
|Certificate of Existence||$14|
There's also a whole list of fees to consider as well. Let's deal with each major Mississippi LLC fee one at a time and consider additional costs separately.
Every domestic Mississippi LLC will need to complete and file a Certificate of Formation online with the Secretary of State. The filing fee for this document can be considered the most important Mississippi LLC filing fee.
The Mississippi Certificate of Formation includes the following information:
Note, you can only file a Certificate of Formation in Mississippi online at the Secretary of State's website. You'll simply need to answer all the questions on the page and pay the state filing fee of $50.
You can read more about what's included in the Certificate of Formation (also known as the Articles of Organization) in our review.
Under Mississippi law, every LLC registered in the state is required to file an annual report with the Secretary of State. You can use your state business ID for this - check yours here.
Unlike many other states, Mississippi does not charge anything for processing domestic LLCs' annual reports.
Note that failure to file your report may result in the administrative dissolution of the company. Thus, you can file the document any time on or after January 1st until April 15th of each year.
Foreign limited liability companies in the state will be required to pay the Mississippi LLC annual fee of $250.
If you're calculating LLC costs in Mississippi, be sure to include registered agent services there as well. After all, according to Mississippi law, every LLC operating in the state has to designate and maintain a registered agent on an ongoing basis.
A registered agent (RA) is an individual (or an entity) that will receive important legal/tax documents on behalf of and for your company, including correspondence from the state government and tax authorities, as well as documents related to service of process.
Under Mississippi law, RA's functions can be performed by:
We recommend hiring a commercial registered agent service since it will provide you with a whole list of benefits as follows:
Remember that your registered agent must be reliable because if it turns out to be unavailable at the right time, you risk losing your case in court (since you will not even know about it).
Moreover, the state government will most definitely decide that you're running your business without a registered agent and may revoke your LLC registration.
That said, it's highly recommended to choose a famous RA service with experience. To make it as easy for you as possible, we recommend you check our ranking of registered agents in Mississippi.
If you are not forming a new company but expanding your business to Mississippi, you can register as a foreign LLC in the state (online registration only). For this, you will need to complete an Application for Registration of Foreign Limited Liability Company.
In this case, the Mississippi LLC filing fee is $250.
A professional LLC (PLLC) in Mississippi is different from a regular LLC in that it's created by licensed professionals to provide certain services in the state. Thus, the following professionals can open a PLLC in Mississippi:
To register a PLLC in the state of Mississippi, you must:
Registering a Mississippi PLLC can be done online on the Secretary of State’s website and is almost no different from registering a regular LLC. The fee in this case is also $50. You can also consider hiring an online business formation service.
While, unlike many other states, Mississippi does not charge an annual fee for processing annual reports, there are some other financial obligations that LLC owners must consider in the state. These usually vary from county to county or city.
Below are the main types of state tax you will need to pay to the Department of Revenue. In Mississippi, these taxes are as follows:
The last tax means you will have to withhold 7.65% of your employees' taxable wages. Moreover, employees in your company will also be responsible for 7.65%, which adds up to the current federal tax rate (15.3%).
In many cases, to run a business in Mississippi, you will need to get a business license and renew it each year. Consider this amount when calculating your total LLC fee in Mississippi.
The main business license in the state for LLCs is the sales and use tax number (also known as the seller's permit). You will need it if you're going to sell (or lease) goods or provide services that would ordinarily be subject to sales tax. Visit this page to obtain the permit.
The cost of a business license for your LLC depends on the type of your business activity and location (i.e. your city/county where you will run your business). Thus, you may also need specific licenses or permits from your state and local government.
Contact your local Mississippi county government office for more information on business licenses/permits for your company and their cost.
We've already covered the basic costs for a Mississippi LLC. However, there are also additional documents and fees to keep in mind. Thus, if you want to understand as accurately as possible how much it costs to form an LLC in Mississippi, read on.
Sometimes a situation arises when you have already come up with a suitable name for your LLC, but, for any reason, you're not ready to register your business. In this case, the state of Mississippi offers a business name reservation service.
It allows you to reserve your LLC name for up to 180 days. For this, you must submit the LLC Name Reservation form online on the Secretary of State's website and pay the Mississippi LLC filing fee of $25.
In some cases, doing business under your official LLC business name can be complicated. This is often the case for eCommerce businesses (for marketing purposes).
You might need to expand your product line or change your business direction altogether. In such case, you can file a DBA ("doing business as" name), also known as a fictitious name.
For this, you will need to complete and file the Fictitious Business Name Registration form and pay the $25 filing fee.
Doing Business As (DBA) is an alternative business name that you can use on your signage, on your website, as well as in various promotional materials.
In the course of running your business, you will definitely need certified copies of your registration documents. They may be requested by banks and lending institutions, future investors, and business partners.
You can order them at any time on the Secretary of State's website. The fee to get a certified copy of a business document is $10 for the certification + $1 for every page beyond the fifth page.
A Certificate of Existence (also known as a Certificate of Good Standing) is a document that proves your LLC was legally formed in the state and is properly maintained (including following all the rules and regulations of the state).
A Certificate of Existence can be ordered for $14 through the Secretary of State's website and is most often required in case of investment attraction or when applying to a bank for a business loan.