What is the basic tax? What states are involved? What are the considerations for follow-up maintenance?

1、Basic tax: i.e., the minimum tax to be paid to the state government regardless of whether there is business or not and whether there is profit or not. At present, the states that explicitly levy basic tax and the amount of basic tax are: California $800; Utah $100; Washington D.C. $800; New Jersey $500; Oregon $150; Massachusetts $456; New York $25; North Carolina $200.

In addition, if the company is not in operation, it is necessary to do tax clearance before the company can be cancelled.

2、The Federal Tax Identification Number (EIN or TIN), also known as Employer Identification Number (EIN), is assigned by the IRS to U.S. companies that have applied for a tax identification number, and is unique and identifiable. It must be provided when opening a bank account and filing taxes after the company is established.

3、Registration means: registering the company in the newspaper to declare its incorporation. According to past registration cases, it is known that New York LLC type companies require six consecutive weeks of newspaper publication after registration.

4、Report: It can be interpreted as a business license certificate issued by the state government. Some states require companies to apply after a certain period of time, otherwise they will accumulate fines. At present, the requirements to do the report of the state: California, Nevada, Iowa, etc. Note: STATE BUSINESS LICENSE is different from CITY BUSINESS LICENSE.