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Registering a company in Vermont (USA) in 2020
The benefits of establishing a business in Vermont include:
- Stable state economy;
- An enabling environment for mining activities;
- No stamp duty and capital gains tax;
- State benefits for real estate companies and R&D companies;
- A relatively fast registration process.
Support in company registration –from €1,730
Approximate terms of company registration – from 14 daysDetailed information
It’s more expensive to register a manufacturing company in the USA, than in other industries. The state economy is formed by the manufacturing sector (the production of the world-famous Vermont maple syrup, a wine making, a timber harvesting), the tourism industry (most of the highlands of Vermont are crossed by hiking trails and ski slopes) and the agricultural sector (cultivating vineyards, orchards, growing vegetables), as well as a dairy cattle breeding.
Vermont is a state in the northeastern United States, that belongs to the New England region by the Connecticut River and Lake Champlain. Neighboring Canada and the US states of New York and New Hampshire.
Establishing a company in Vermont is most advantageous in the field of education, real estate and technology development - for these industries in the region there are state benefits and grants.
Vermont is the safest state of America. Montpelier is the capital of the region. The official language is English. A currency is US dollar (you can open a US bank account in other currencies at any large bank).
- A corporate tax is from 6% to 8,5%;
- A sales tax is 6%;
- An income tax is 21%;
- Dividends are 30%;
- Percents are 35%;
- A royalty is 35%;
Also, in Vermont there is a special tax on vehicle rental, when exporting products abroad (4%) of the gross income of non-resident legal entities and individuals. There is no tax on capital gains, as well as stamp duty in the USA.
Various legal forms for registering companies in the United States are available, including those, that are relevant in Vermont:
- S-Corp and S-Corp (a corporation, one of the most popular forms, in which investors wish to set up a company in Vermont);
- Free Zone LLC (LLC in the free economic zone, there are 290 such zones in the USA);
- LLC (LLC);
- LLP (a close partnership);
- PLC (an Open Limited Company);
- RO (a representative office);
- A branch.
To establish a commercial firm in Vermont, it is necessary to fulfill the requirements of the Regulator:
- to propose a new name specifying what form of ownership;
- to set up a company in Vermont and manage the firm can 1 shareholder and 1 director - legal/physical persons of any nationality, while an agent of American residency should be on the staff of the company;
- $1 is enough to open a company in the USA (in any state), the main thing is to open an account with American banks;
- to establish a business in Vermont, you must obtain a US license;
- the time, for which you can arrange everything, is 7 days.
If you want to set up a firm in Vermont remotely, we recommend you to request legal advice with IQ Decision specialists at the numbers recorded in the “Contact Us” section of this site. You can also count on help, if you need to obtain a license in Vermont or to open an account with Bank of America, NBT, Mascoma Bank, Bank of Bennington, Bar Harbor Bank, Union Bank, Northfield Savings Bank, Community National Bank and other banks, or need help in other matters related to the registration of companies in the USA.