North Dakota

The Government of North Dakota is the governmental structure as established by the Constitution of North Dakota. Just like the US federal government, The Government of North Dakota consists of three branches: Legislative, Executive, and Judicial. 

• The Legislative Assembly consists of two chambers, the  North Dakota House of Representatives, with 94 representatives, and the North Dakota Senate, with 47 senators;
• The Executive Branch is responsible for executing the laws that are created by the state's legislative branch and defined by the state's Judicial branch;
• The North Dakota Judicial System consists of the Supreme Court, Court of Appeals, District Courts, and Municipal Courts.

In 2019, the real GDP of North Dakota was $54.1 billion. The GDP per capita of North Dakota was $70,991 in 2019.

North Dakota's economy is based more heavily on farming than the economies of most other states. Agriculture is North Dakota's largest industry, although petroleum, food processing, and technology are also major industries. The energy industry is a major contributor to the economy. North Dakota has both coal and oil reserves. Other major industries are: mining, finance services, healthcare, education, real estate, wholesale trade, etc.

Currency:

United States Dollar (USD)

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

Type of Company/Corporation:

One IBC supply incorporation in North Dakota 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 North Dakota 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 North Dakota:

• 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 North Dakota 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 North Dakota:

• 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 North Dakota

Share Capital:

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

Director:

Only one director required 

Shareholder:

Minimum number of shareholders is one 

North Dakota 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:

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

Double Taxation Agreements:

North Dakota, 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 North Dakota 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:

The cost for the license varies depending on what type of business you're operating. and can involve additional processing fees. It usually ranges from $50 - $400 or more.

Read more: 

• North Dakota trademark 
• North Dakota business license 

Payment, Company return due date:

North Dakota Filing Due Date: Business tax returns are due by April 15 — or by the 15th day of the 4th month following the end of the taxable year (for fiscal year filers).