Mississippi Business License

If you consider opening a business in the state of Mississippi but you can’t figure out where to start, this article may come in handy. Together, we will look through all the major procedures that will assist you to expedite the process of obtaining your business license in Mississippi.

How do I get a business license in Mississippi?

Have you already decided on the idea of your new business? If so, let’s discuss how you can turn your concepts into action. All the needed information about obtaining business licenses in Mississippi can be found on the official website of the Secretary of State’s Office.

To run your business legally in the state of Mississippi the license is not mandatory, although some cities will require either holding one or providing permission or certification according to the industry you will work in.

Before applying for your license, make sure you are well-informed about the variation of legal entities.

Generally, there are 4 types of legal entity to authorize your business operation.

1. Limited Liability Company (LLC), the most popular and effective business entity that unlike other entities is tax flexible and can provide the unlimited number of shareholders.
2. Corporation, a business structure that is a distinct and separate entity from its owners. Compared to sole proprietorships or partnerships, a corporation is relatively expensive and more challenging to handle.
3. General partnership, designed for 2 or more individuals preferring to start a business together. Considering it as a separate entity, one of the main pros of holding it is that it is free of income taxes.
4. Sole proprietorship, the easiest and least expensive entity for an individual starting a business. The downside of having this entity is that the owner is solely the one in charge of all departments and wrongs occurring in the company.

How do I get an LLC license in Mississippi?

In order to obtain your LLC license in Mississippi, you must fill out the Certification of Formation and send it to Mississippi Secretary of State. You can file by mail, which will take 3-5 business days to be approved while by online application your business LLC will be approved instantly.

For both options, you must create an online filing account by visiting Mississippi Secretary of State’s website here.

Certificate of Formation with Mississippi Secretary State requires registrants to provide the following information:

• LLC name and business email
• EIN number
• Future effective date
• NAICS code
• Information about registered agent
• Signature

How much does it cost to start a business in Mississippi?

Whether you submit online or by mail, the filing fee of certification of formation with the Secretary of State is $50. Keep in mind that while domestic entities pay $50, the filing fee for foreign ones starts from $250.

You can file the name of your LLC business by submitting a reservation application. It costs $25 and the name can be reserved for up to 180 days. In the name reservation make sure to include the following information:

Desired name of your business
Legal entity type
Printed version of registrant’s name, signature, and the address