Pennsylvania (United States of America)

The Government of the Commonwealth of Pennsylvania is the governmental structure of the Commonwealth of Pennsylvania as established by the Pennsylvania Constitution. It is composed of three branches: executive, legislative and judicial. 

• The legislature of Pennsylvania is the General Assembly, a bicameral body consisting of the Senate and the House of Representatives;
• The Executive branch headed by the Governor;
• The highest judicial power is the Supreme Court of Pennsylvania.

In 2019, the real GDP of Pennsylvania was about 728.02 billion USD. Gross state product (GSP) of Pennsylvania was $803 billion, ranking 6th in the nation.

Pennsylvania has long been considered a predominantly agricultural state, but it has grown into an industrially diverse economy, with business and growth opportunities available in different industries. Some of the state’s major industries are broadcasting and telecommunications, administrative and support services, health care services and construction. Other primary sectors include chemical manufacturing, coal mining and food products.

Currency:

United States Dollar (USD)

The corporate laws of Pennsylvania are user-friendly and often adopted by other states as a standard for testing corporate laws. As a result, the corporate laws of Pennsylvania are familiar to many lawyers both in the US and internationally. Pennsylvania has a common law system.

Type of Company/Corporation:

One IBC supply incorporation in Pennsylvania service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.

Business Restriction:

The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.

Company Name Restriction:

The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";

• May contain the name of a member or manager;
• Must be such as to distinguish it upon the records in the office of the Secretary of State from the name on such records of any corporation, partnership, limited partnership, statutory trust or limited liability company reserved, registered, formed or organized under the laws of the State of Pennsylvania or qualified to do business.

• May contain the following words: "Company," "Association," "Club," "Foundation," "Fund," "Institute," "Society," "Union," "Syndicate," "Limited" or "Trust" (or abbreviations of like import).

Company Information privacy:

No public register of company officers.

Just 4 simple steps are given to start a business in Pennsylvania:

• Step 1: Select basic Resident/Founder nationality information and other additional services that you want (if any).
• Step 2: Register or log in and fill in the company names and director/ shareholder(s) and fill in the billing address and special request (if any).
• Step 3: Choose your payment method (We accept payment by Credit/Debit Card, PayPal, or Wire Transfer).
• Step 4: You will receive soft copies of necessary documents including Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc. Then, your new company in Pennsylvania is ready to do business. You can bring the documents in the company kit to open a corporate bank account or we can help you with our long experience of Banking support service.

* These documents required to incorporate a company in Pennsylvania:

• Passport of each shareholder/beneficial owner and director;
• Proof of residential address of each director and shareholder (Must be in English or certified translation version);
• The proposed company names;
• The issued share capital and par value of shares.

Read more:

How to start a business in Pennsylvania

Share Capital:

There is no minimum or a maximum number of authorized shares since Pennsylvania incorporation fees are not based on the share structure.

Director: 

Only one director required 

Shareholder:

Minimum number of shareholders is one 

Pennsylvania company taxation: 

Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.

• Us Federal Taxation: US Limited Liability companies structured for partnership tax treatment with non-resident members and which conduct no business in the US and which have no US-source income are not subject to US federal income tax and are not required to file a US income tax return.
• State Taxation: US limited liability companies that conduct no business in the recommended states of formation with non-resident members are generally not subject to state income tax and are not required to file a state income tax return.

Financial statement

Local Agent:

Pennsylvania law requires that every business have Registered Agent in the State of Pennsylvania who may be either an individual resident or business that is authorised to do business in the State of Pennsylvania

Double Taxation Agreements:

Pennsylvania, as the state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimised by providing credits against Pennsylvania taxation for taxes paid in other states. 

In the case of corporate taxpayers, double taxation is minimised through allocation and appointment rules related to the income of corporations engaged in multi-state business. 

License Fee & Levy:

Fees run around $250. These are usually payable in person with a credit card or cash. Remember that Pennsylvania business licenses must be renewed annually.

Read more: 

• Pennsylvania trademark 
• Pennsylvania business license 

Payment, Company return due date:

Pennsylvania Filing Due Date: Corporate tax reports are due by April 15 — or within 30 days of the deadline for Federal corporation returns (for fiscal year filers).

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