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Every LCC and corporation has a home state—the state where is was formed. As long as you do business in only your home state, your compliance responsibilities are simple. But, contacts and transactions in another state can trigger the need for foreign qualification in that state.
The rule is simple and uniform: if you are doing business in a state, you must follow the business registration rules. What is not simple is the definition of doing business for several reasons:
So, in this murky realm of case law, are there any warning signs that you may have a significant connection to a state and a need to register?
Yes, there are some indications that you've crossed the compliance border in another state. Consider these five tip-offs:
Do you answer "yes" to any of these questions? If so, then should consult with an advisor regarding the need for foreign qualification. And, if you do need to register in a new state, CT Corporation can assist you with each step of the process.
What happens if you don't register with a state where you are doing business? We'll explore this in a future post.
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