How To Start Export Import Business in CALIFORNIA, How to incorporate in CALIFORNIA, CALIFORNIA tax and registration rules. CALIFORNIA investing opportunities. CALIFORNIA's top export and import goods
How To Start Export Import Business
California is the second best exporter state in USA. 178 billion USD worth products shipped in 2018 and statistics shows that 2019 numbers will be %3 higher. Its clear that California handle %10,7 of USA annual export.
Before you start an export or/and import business in California, you should start up a company or organize your trade activities from your abroad office. If you plan to build up a company in California, you should check how to incorporating in California. If you dont have an experience about export / import business, our article show you which steps you need to follow in this way.
Before you start an export or/and import business in California, you should start up a company or organize your trade activities from your abroad office. If you plan to build up a company in California, you should check how to incorporating in California. If you dont have an experience about export / import business, our article show you which steps you need to follow in this way.
1.way: You can get support from foreign trade companies as below:
Export management company (EMC) : EMCs usually specialize by foreign market or product type. They handle all steps on behalf of you. If you have a proper product its easy to find and deal with EMC. EMC working style as; commission, salary or retainer plus commission. There iÅŸs lots of EMC in all over the US.
Export trading company (ETC) : They are searching the foreign buyers (importers) and match the domestic producers with them. ETC companies works on a commission basis. Many of them focus on sectoral products.
2.way: You can sell your goods directly to abroad
Import / export Merchant : Merchant companies collect the goods from domestic producers and sell them on all over the world with their international contacts or agents. So all risks and charges belong to them. Import / export companies could be located in US or at any foreign country. Its the safe and simple way to work with "exworks delivery term" if you dont want to organize customs clearence or transportation process.
Import / export company : Its the main goal if you want to learn how to do import export business and grow your company. If you want to earn main profit without sharing or commission to reseller, broker of any kind of middleman.
Incorporating in California
If you plan to start any business, the first step is build up a new company in California. So you need to know, how to incorporate in California? and also get an information that; which steps you take when you incorporate in California.
Corporate Name: Your company name should be uniq so it cant be resemble so closely any other company names. First step you should check your desired company name already registered or not. The its better to check any similarity with wellknown company names.
Corporate Name: Your company name should be uniq so it cant be resemble so closely any other company names. First step you should check your desired company name already registered or not. The its better to check any similarity with wellknown company names.
Trademark: You should register your trademark or service mark if its needed.
Licensing: If you are a member of any occupations, it should be licenced by the State of California
How long does it take incorporate in California
The complete steps to forming an California LLC within 90 days. .
Licensing: If you are a member of any occupations, it should be licenced by the State of California
How long does it take incorporate in California
The complete steps to forming an California LLC within 90 days. .
You have to prepare the “Articles of Incorporation Requirements” including the following details:
- If the company only have 1 or 2 shareholders the number or directors also have same numbers otherthen the directors cant be less then three.
- No need to list any directors in the articles of incorporation.
- You dont have to residence in California.
- There is no any spesific age requirements to incorporate in California
- You dont need to list any officer, manager or worker of the company in main article
- Initial fees cant effect by increase shares.
How to Form a Corporation in California
1. Choose a Corporate Name and check if its register or not
2. Prepare a Certificate of Formation
3. Appoint a Registered Agent
4. Set Up a Corporate Records Book
5. Prepare Corporate Bylaws
6. Appoint Initial Corporate Directors
7. Hold Your First Board of Directors Meeting
8. Comply with California Tax Requirements
Registration Fees in California:
All companies should prepare annual report and also certificate of disclosure for each year.
Annually by end of calender month registratation, The California Secretary of State charges 25 USD filling fee and also 75 USD for service fee
Annually by end of calender month registratation, The California Secretary of State charges 25 USD filling fee and also 75 USD for service fee
Tax Rates in California State (CA)
Base state sales tax rate: %6
Local rate range: %0,15 - %3
Total rate range: %7,25 - %10,25
Income tax rates calculated as below:
The company net income less then 8223 USD, tax rate will be %1
The company net income less then 19495 USD, tax rate will be %2
The company net income less then 30769 USD, tax rate will be %3
The company net income more then 42711 USD, tax rate will be %4
The company net income more then 53980 USD, tax rate will be %8
The company net income more then 275738 USD, tax rate will be %9,3
The company net income more then 330884 USD, tax rate will be %10,3
The company net income more then 551473 USD, tax rate will be %11,3
The company net income more then 1000000 USD, tax rate will be %12,3
California Department of Renevue: https://www.ftb.ca.gov/
The California state tax rate is approx %7,25.Total tax rate change city by city between %7,25 to %10,25
Forexample in San Diego city tax rate is %7,75 but Los Angeles tax rate is %9,5
Therefore before you build up a company in California its better to check the tax rates and choose the location if you can do your work any place in the state.
California Export Products
California exported 178 billion USD goods in 2018. Statistics shows then California export goods more than 100 country and 230 abroad market. Its clear that California have a capacity to grow its export capacity.
If California is a country, its listed 31th most exporter country in the world, Its only a state but this export capacity is really dazzling
California called "the golden state" In 1948 a gold mines discovered in California afterthen a golden rush start and thousands of people went to california to hope to find a gold mine. Today California ecomony doesnt rely on gold but its already a golden state with its
impressive economic strength
If California is a country, its listed 31th most exporter country in the world, Its only a state but this export capacity is really dazzling
California called "the golden state" In 1948 a gold mines discovered in California afterthen a golden rush start and thousands of people went to california to hope to find a gold mine. Today California ecomony doesnt rely on gold but its already a golden state with its
impressive economic strength
California Top 5 Export Products
- Aircraft & parts : 7.1 billion USD
- Machinery for making semi-conductors : 5 billion USD
- Diamonds (unmounted) : 4.9 billion USD
- Modems, similar reception/transmission devices : 4.5 billion USD
- Integrated circuits (excluding processors/controllers) : 3.7 billion USD
California Top 5 Exporting Country
California exports California exports directly to EU countries about 32 billion USD in 2018. EU market is %18 of totall California exports
- Mexico : 30,7 billion USD
- Canada : 17,7 billionn USD
- China : 116,3 billion USD
- Japan : 13 billion USD
- South Korea : 9,94 billion USD
California Agricultural Exports
California is a major exporter of agricultural products in the US, It is the biggest producer state grape, almond, nuts and fruits. California climate is warm and rich landscape
There is land suitable for the development of many products in this state
COMMENTS