Do I have to foreign qualify my business in the state?

Discussion in 'Legal Issues' started by MIsac, May 11, 2014.

  1. #1
    Hello guys,

    I have a complicated situation here, hope anyone could help me with an answer. I'm filing an LLC in FL and will open a Citibank business account in IL under the name of my business. Does this make me foreign qualify my business in IL? Because, I read that I have to qualify my business in the state where I maintain a bank account. But, I don't know if this applies on local banks only or international and nationwide banks like Citibank too. Any suggestions?

    Thank you.
     
    MIsac, May 11, 2014 IP
  2. Tier_net

    Tier_net Active Member

    Messages:
    35
    Likes Received:
    5
    Best Answers:
    3
    Trophy Points:
    58
    #2
    It's always best to consult with an attorney for legal advice.. With that said, in most cases you would only have to file as a foreign entity if you actually have an office or employee(s) in that state. If most of your business is done online, it should not matter.
     
    Tier_net, May 21, 2014 IP
  3. MIsac

    MIsac Greenhorn

    Messages:
    9
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    21
    #3
    Yes, at this time all of my business is running online. I guess you are right.
    Thank you so much.
     
    MIsac, May 21, 2014 IP