Connecticut

Connecticut

Connecticut is the richest and the southernmost state of New England, and also the third largest in the United States, which is characterized by a combination of coastal cities and rural areas with small towns. In Mystic, there is the famous seaport, the museum of ancient ships under the open sky and the Mystic aquarium with white whales. Connecticut borders on Long Island Sound, New York and Rhode Island, Massachusetts. The capital is Hartford. The most prosperous city is New Canaan.

A minimum wage is $10,10/hour, which should be considered, when registering a business in Connecticut. Taxes are levied on all salaries, even those received outside the state.

It has several nicknames: “Constitutional State”, “Land of Sustainable Habits”, “State of Nutmeg”, “State of Provisions”.

To establish a company in Connecticut, you can choose one of the following areas:
  • Connecticut's most significant industry is the financial industry, headquartered in 14 of the 200 largest hedge funds in the world;
  • a technology, a manufacturing;
  • a production of helicopters, jet engines, eyeliners;
  • pharmaceuticals;
  • a firearms manufacturing;
  • the art and a film industry;
  • a tourism;
  • a gambling;
  • a food industry;

Connecticut is considered the world capital of oysters.

Legal forms of companies

You can set up a firm in America in one of the legal forms:

  • Multi-Member PLS (Open Limited Company);
  • LLC (a limited liability company);
  • FZ LLC (a free zone company);
  • C-Corp/S-Corp (a local corporation);
  • LLC (a partnership);
  • the individual entrepreneurship;
  • RO (a representative office).

If you are interested in registering a company in Connecticut and opening a corporate account with Bank of America, choose Partnerships, FZ LLC and LLC.

Read also:
What taxes should you be prepared for, if you decide to start a business in Connecticut?

Taxes

C-corp

S-corp

FZ LLC

Multi Member

LLC

Single Member LLC

PLS

LLP

RO

a field of activity

any business

a family business

a production and the export trade

trading/holding

any business

any business

professional services

marketing/analytics

a federal income tax

21%

21%

21%

21%

21%

21%

21%

21%

a corporate tax

7,5%

7,5%

0%

0%

0%

0%

0%

0%

sales and use taxes

6,35%

6,35%

6,35%

dividends

35%

percents

30%

royalty

30%

for individuals with income

up to

10 000 $

3%

10 000 - 50 000 $

5%

50 000 - 100 000 $

5,5%

100 000 - 200 000 $

6%

200 000 - 250 000 $

6,5%

over

250 000 $

6,7%

How to start an entrepreneurship in Connecticut?

  • It is possible to register a company in the USA remotely in just 7 days, subject to the conditions:
  • to register a unique name in the USA with the specification of the company form;
  • a company data must be entered into an open registry;
  • you need to open an account with American banks;
  • annual tax reporting required.

There are no restrictions on managing a business by a legal entity or an individual in Connecticut, residency does not matter, the presence of a secretary, an office space and the size of the authorized capital are also unlimited.

YB Case experts will provide assistance in preparing a package of necessary documents for registering a business in Connecticut, will provide support for obtaining a license in Connecticut, and will also answer all your related questions about your chosen jurisdiction. Our company services also include advice on opening an account with Connecticut banks.

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