Should you form your corporation in Missouri? We've collected the relevant information that will help you make this decision.
- Low property tax rate
- Home to one of the top 20 metro areas in the US
- Qualified workforce
- Flat 6.25% corporate tax
- Competitive market
Cost of doing business
- $58 filing fee / $20 annual statement
- Disclosure of owners required in articles
Forming your corporation in Missouri
In order to communicate to the public that your new business is incorporated, its official name will need to end with one of the following signifiers (or a relevant abbreviation): “incorporated”, “Company”, or “corporation.” In addition, it is required that the name of your business is not intentionally misleading to consumers, for any reason. Your company’s new name must also be completely unique, and not deceptively similar to any other organizations name or trademarks. Do a FREE name search now.
Board of directors requirements
You will need to form an official board of directors when incorporating in Missouri. Here are the states explicit regulations regarding these directors:
- Required number of directors
Missouri corporations must have at least three directors listed in their incorporation documents. However, if there are only one or two shareholders for a company, then it may have one director for each shareholder.
- Age restrictions
Directors of corporations located in Missouri must be at least 18 years of age.
- Residence restrictions
There are no residence restrictions imposed on the directors of C corporations in Missouri. However, S corporations are only allowed to have directors located in the United States.
- What information needs to be included in the Articles of Incorporation?
Missouri does require the names or addresses of directors to be disclosed in incorporation documents.
Requirements for the Articles of Incorporation
The Articles of Incorporation is a document that must be filed during the incorporation process in every state. Here is the information that must be included in this document when filing in Missouri:
Missouri requires the number of initial shares outstanding, and their par value, to be disclosed during the incorporation process. The number of outstanding shares does not affect initial state filing fees.
The state of Missouri does not require officer information to be disclosed during the filing process.
Registered agent information
All Missouri corporations must have a registered agent on file, and submit their name and address (which cannot be a PO box). This agent will be required to be accessible during standard business hours, and act as the state’s point of contact with the company. Learn more about registered agents.
If your business is a professional practice
Professional service corporations are permitted to form under the professional corporation (PC) structure.
Corporate record keeping requirements
Corporations are required to keep formal documentation regarding several of their operations. These are the explicit record keeping formalities required by Missouri:
- A complete and comprehensive set of financial records
- In-depth records that detail the owners, class, and transfers of all outstanding stock shares
- The business address and names of all officers
- Formal, in-depth documentation of all stock related resolutions
- Meeting minutes for all shareholder meetings.
Missouri corporate taxation and fee requirements
There are several tax and fee requirements that must be addressed by corporations in Missouri. They are as follows:
All states have complex taxation requirements. For more information regarding taxes in Missouri, it is advised that you visit the state’s official business related website.
Annual report requirements
Corporations in Missouri are required to file an annual registration report by April 15th each year, which carries a $45 filing fee. There is also a franchise tax due within 4 ½ months of the beginning each new taxable period. The company’s number of outstanding stock shares and cash surplus determines this tax over $200,000. Learn more about annual reports.
Tax identification numbers
Missouri requires an EIN (employee identification number) for all corporations that will have employees, and most banks will require one to open accounts. Missouri does require corporations to obtain state tax ID numbers. Learn more about EINs.
Business license requirements
The business licenses and permits required in Missouri vary wildly depending on the county or municipality in which your new corporation is located. If you would like to see more in-depth information on licenses and permits, please feel free to visit the content in our learning library that covers business licenses and permits.
S corporation election
Missouri does not require a state-level S corp election, as they recognize any elections held at the federal level.
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