Registration forms for business entities can be downloaded from the website at www.sos.ga.gov/corporations Registration forms as well as additional information can also be obtained by contacting the Corporations Division at: 404-656-2817.

Georgia’s consistent ‘best state for business’ rankings prove our commitment. Site Selection magazine ranked Georgia “No. 1 for Business” eight years running (2013-20). That’s based on an analysis of announced projects, the state’s tax climate and a thorough survey of site selection professionals.

More than 1 million small businesses operate in Georgia. These businesses make up 99.6% of all businesses within the Peach State and employ 1.6 million of its residents, more than 43% of all Georgia employees.

Within 90 days of incorporation, each Georgia corporation must file an initial annual registration that lists three principal officers with the Secretary of State. The fee is $50.00 for profit and professional corporations, and $30.00 for nonprofit corporations.

The state of Georgia does not require a general business license. Once you have obtained a valid business tax certificate, your business may legally operate throughout all of Georgia.

You may apply for an EIN online if your principal business is located in the United States or U.S. Territories. The person applying online must have a valid Taxpayer Identification Number (SSN, ITIN, EIN). You are limited to one EIN per responsible party per day.

Technically, single-member LLCs and sole proprietorships are not required to have an EIN as they are taxed as individuals. Instead, you can simply open a bank account without an EIN. Also, some institutions may be open to using your Social Security Number (SSN) to register so it is worth checking first.

The IRS uses the EIN to identify the taxpayer. EINs must be used by business entities–corporations, partnerships, and limited liability companies. However, most sole proprietors don’t need to obtain an EIN and can use their Social Security numbers instead. Even so, you may want to obtain an EIN anyway.

You can use an EIN instead of an SSN on W-9. It is not possible to use an EIN for these purposes. Because lenders and credit rating agencies know the difference between an SSN and EIN, it reduces the potential of damaging your credit rating even if fraudsters can access your personal information.

A sole proprietor without employees and who doesn’t file any excise or pension plan tax returns doesn’t need an EIN (but can get one). In this instance, the sole proprietor uses his or her social security number (instead of an EIN) as the taxpayer identification number.

If you’re a sole proprietor, you’re responsible for complete control of your business, whether it is a part-time or a full-time venture. In addition, since sole proprietors do not have taxes withheld from their business income, they are required to pay quarterly estimated taxes.

The IRS usually adds a penalty of 1/2 percent per month to a tax bill that’s not paid when due. This amounts to 6 percent per year. This penalty is added to the 3 percent interest charge, so the total penalty would be 9 percent or more if you don’t pay all your tax due on April 15.