How Much Does It Cost to Form a CT Corporation?
Legal business registration — and
maintaining a status of good standing
— involves necessary expenses and
investment. Some of these costs are
payable to the CT Secretary of State,
while others are due to additional
state entities or the federal
government. Here are some common
requirements and fees.
Please
note that fees for a State of
Connecticut business license or permit
may be due when you first form your
business, on an ongoing schedule or on
an ad hoc basis. Find more details
below.
Initial Connecticut Corporation Filing Fees
When starting a business in Connecticut State, you’ll need to file a form and pay a filing fee. Here are the current Connecticut corporation filing fees and times:
State Fee | State Filing Time | Expedited Filing Time |
$250 | 3 Weeks | 2 Business Days |
State Fee | $250 | |
State Filing Time | 3 Weeks | |
Expedited Filing Time | 2 Business Days |
When you use Bizee to register a business in Connecticut, we charge you the state filing fee and forward it to the Secretary of State when we file your incorporation paperwork.
Just pay the required Connecticut corporation filing fees.
Employer Identification Number
Every corporation in the country should have a unique EIN (Employer Identification Number) from the Internal Revenue Service. You'll use it when you open a business bank account, file taxes and pay employees. You can get one directly from the IRS, or Bizee can get one for you.
Foreign Corporations
If you want to do business in a state other than the one where your business is based, you must create a Foreign Corporation.
Connecticut Foreign Corporation Registration
Before you can bring an arm of your
business from another state into
Connecticut, you must request
Connecticut Foreign Qualification.
This means the state gives you
permission to conduct business
there.
To request
registration of a Connecticut Foreign
Corporation, you must complete an
Application for Certificate of
Authority
and pay a processing fee of $385. The
state may have additional registration
requirements, so contact the
Connecticut Secretary of State
directly for more information and to
ensure you're in compliance with CT
corporation law.
Foreign Qualification to Operate in Another State
If you plan to expand your
Connecticut corporation
into another state, you’ll first need
Foreign Qualification or a Certificate
of Authority from that state. This is
necessary before you can create a
physical presence, hire employees or
bank in that state.
You'll
likely have to complete at least one
application and pay a filing fee, but
each state has its own requirements.
Before you start the process, compare
state filing times
and
state filing fees
so you can plan accordingly.
Above
all, contact the state government
entity that administers business
(usually the Secretary of State) to
confirm their requirements and for
specific instructions.
If
you need assistance, Bizee provides a
complete Foreign Qualification service
for all states.
Connecticut Annual Report Requirements
Most states require business entities
to file an annual (or other periodic)
report. Connecticut requires an annual
report to be filed once a year with
the Connecticut SOS.
When
you complete your annual report you
must
file it online
accompanied with a filing fee of $150.
An initial report is also due within
30 days of forming your corporation.
Annual Report
Frequency
Annually
Due Date
Last business day of anniversary month of incorporation.
Filing Fee
$150Important
The initial annual report filing is due within 30 days of the entity formation date.
State of Connecticut Business License and Permit Requirements
Before you start doing business, you must secure the necessary state, federal or local business licenses and permits to operate your corporation. Some of the fees will only need to be paid once, while others may be ongoing charges.
Permits and licenses vary based on:
The type of business you run (e.g., attorneys must pass the state bar exam)
The industry your corporation operates in (e.g., restaurants will need health permits)
The location of your corporation (state, county or city) (e.g., a license to conduct business in the city of Bridgeport)
Operating your corporation without the required State of Connecticut business license can leave you vulnerable to risks, such as fines from local, state and federal governments.
You can research these permits and licenses yourself, or use Bizee’s Business License Research Package, which includes:
- A complete report on all the licenses, permits and tax registrations your corporation will need
- The applications you'll need to file with the local, state and federal licensing authorities
Corporate Bylaws
You are required to have Connecticut corporation bylaws if you form a corporation in the state. You don't need to file them with the Connecticut Secretary of State, but make sure you have them with your business documents and by all means, continue to follow them.
This document outlines rules for carrying out tasks related to managing your corporation including, but not limited to:
- the number of directors the corporation has
- how they'll be elected, their qualifications and the lengths of their terms
- when, where, and how your board of directors can call and conduct meetings
- voting requirements
The bylaws must then be adopted (and
amended, if necessary) by the board of
directors and shareholders.
Drafting
a set of bylaws can be extremely
helpful in making sure you’re
organized and can help protect your
business from any future changes and
events that may affect your business.
Other CT Corporation Filing Requirements and Fees
The State of Connecticut requires you to complete a few more tasks before you can begin conducting business.
Appoint a Director
Some states require corporations to appoint a full board of directors. CT corporation law requires all corporations to have at least one director.
Appoint Officers
In Connecticut, the board of directors may elect officers, such as the president, vice president, secretary, treasurer, etc. One officer must be responsible for preparing the minutes of the directors' and shareholders' meetings and for maintaining and authenticating the records of the corporation required to be kept. One individual may hold more than one office simultaneously.
Issue Stock to Shareholders
To raise business capital and keep it separate from company owners' money, every Connecticut corporation must sell stock to its shareholders. The Certificate of Incorporation must authorize the sale of at least one class of share, and the corporation cannot sell more shares than are authorized.
Hold Annual General Meetings
In Connecticut you are required to hold an annual meeting, however if you fail to do so, CT Gen Stat § 33-695 states, "The failure to hold an annual meeting at the time stated in or fixed in accordance with a corporation's bylaws does not affect the validity of any corporate action."
Get a Trade Name or DBA
If you want to register a Connecticut DBA (trade name), you must file a certificate with your town clerk which you can find in the town clerk directory You will likely need to pay a filing fee for this service.
Change the Registered Agent
If your corporation is based in Connecticut, then you must have a Registered Agent in the state. You'll need to appoint one when you file your Certificate of Incorporation. You can also change to a new Registered Agent later by filing a form and paying a fee of $50.
It’s free for the first year if you form your CT corporation with us and $119 a year after.
Reserving a Name for Your Corporation
If you're not quite ready to start your business, you can reserve a name for 120 days with the Secretary of State by filing a form and paying a fee of $60. First, conduct a CT corporation search and learn the state's business naming rules to ensure you choose a name that meets legal requirements.
Amending Facts About Your Corporation
When you incorporate, the Connecticut business forms you fill out include certain facts about your business at that time. Through the years, some or all of this information may change. If it does, you'll need to file a Certificate of Amendment with the Secretary of State along with a filing fee of $100. You can do this yourself or Bizee can do it for you.
You'll need to file a Certificate of Amendment when you:
- Change the company's name
- Add, remove or change a director
- Change the Registered Agent
- Change the number of shares your corporation is authorized to issue
- Change any other facet of your business that was listed on the original Certificate of Incorporation.
Get a Certificate of Good Standing
Some organizations may request that
you prove your corporation's
compliance with laws and tax
requirements. In most states, this
proof is provided with a Certificate
of Good Standing. In this state, it's
a CT Certificate of Legal
Existence.
If you need to
prove you have met your commitments,
you’ll need to request a CT
Certificate of Legal Existence from
the Secretary of State. You can do
this online
via the business portal
provided by the CT Secretary of State
and paying a filing fee of $50.
The information listed above details
many of the fees a standard
corporation will be required to pay in
Connecticut. In some circumstances,
there may be other one-off, periodic
or ad hoc fees not listed above.
Of
course, your corporation will also
probably need to pay federal, state,
self-employment (if it's an S Corp)
and other taxes. You'll find more
information on the
Connecticut taxes
page.
FAQs About CT Corporation Filing Requirements and Fees
We charge you this fee at cost and then pay it to the CT Secretary of State on your behalf when forming your business.
It depends on various factors, including:
- governing organizations in your industry;
- federal, state and local regulations;
- where you're located; and
- the type of business you run.
Many new businesses need a business license, and you may be required to obtain additional licenses and permits. Our Business License Research Package can take the guesswork out of it for you and help you learn what your corporation needs to be compliant.
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