Kentucky Business Facts
The Bluegrass state of Kentucky has many advantages that contribute to its friendly business climate. The state’s central location enables the distribution of materials and goods to a huge consumer and industrial global market. Kentucky’s colleges and universities are true partners in workforce development and Kentucky is a great place to raise a family with one of the lowest cost of living rates in the United States.
Major Companies Headquartered in Kentucky
Kentucky is the home of Humana, Papa John’s Pizza, Yum! Brands and Texas Roadhouse.
Kentucky ranks third lowest in the nation for cost of doing business and the state offers free workforce recruiting and training of employees. Kentucky entrepreneurs also benefit from some of the lowest electricity costs in the nation, a high quality of life, short commute times, a central location, global shipping hubs and incentive programs such as the Kentucky Innovation Network offering startup and capitalization support and mentoring to help grow small businesses.
There are 3 basic options: a Corporation, LLC or DBA. Click here to learn more about business entities.
Choosing a business name is easier said than done – many legal and business problems can arise from picking the wrong name (you can always change it later but the less times you have to do that the better). In Step 3 we’ll show you how to search for the name in Kentucky, but we highly recommend you do the following before searching Kentucky state databases:
Restrictions on Kentucky Business Name & Business Purpose
Each state has its own requirements for registering a business. Now that you’ve chosen a business structure and selected your business name, here are the requirements to register your business in Kentucky.
How to form an LLC in Kentucky
How to Incorporate in Kentucky
Considerations when registering a Kentucky business
How to File a DBA in Kentucky
Your EIN is like your Social Security Number for your company. It’s required for Corporations and LLC’s and optional for DBA’s (if you don’t have any employees, it’s required). However, if you are a DBA and don’t obtain an EIN you will be required to use your Social Security Number on many documents so it’s highly recommended that you obtain the EIN to prevent identity theft. You can apply online with the IRS or via IRS Form SS-4.
TIP: We can obtain your EIN for you if you we form your company.
Ready to register a business in Kentucky?
To keep business and personal expenses separate, you should open a separate account for your business. In addition, getting business credit cards is how you begin to build a company credit profile (corporation or LLC required) and can later qualify for larger loans and lines of credit. To open the account simply call your chosen bank and inquire on the steps to open a business bank account. Typically you’ll need a) your filed paperwork, b) your EIN and c) a company resolution authorizing your company to open the account (signed by the owners, members, officers or directors, etc.).
TIP: Our business formation service includes a free banking resolution for your use.
Now that you’ve registered your business name you need to obtain a business license for your company – this authorizes your company to do business in your city or county. Typically this also involves registering for state taxes and permits (the city may require them as part of the business licensing process).
TIP: We can help you identify the necessary forms to obtain your business license.
DBA: Your Assumed Name in Kentucky is valid for 5 years (unless you change the company name or other information listed on the certificate) at which point you’ll need to renew it.
LLC: Kentucky LLCs must file an annual report every year by June 30.
Corporation: Kentucky corporations are required to file an annual report each year by June 30. LLCs and Corporations will pay a filing cost of $15.
Ready to start a business in Kentucky?
Our Kentucky filing services will help you get started as quickly as possible.
Business Services (for Corporation and LLC filings)
700 Capital Ave., Ste. 152
Frankfort, KY 40601
Phone: (502) 564-3490
Kentucky Taxation Departments
Kentucky Labor and Employment Departments
Kentucky Startup Resources
1. Small Business Administration (SBA) Kentucky District Office
2. SCORE Kentucky
3. Kentucky Legal Statutes
4. Kentucky Chambers of Commerce
5. Kentucky Business One Stop Business Portal
6. Angel.co Kentucky Startups
7. Kentucky Business News
8. Governor’s Office of Minority Empowerment
9. Kentucky Small Business Development Center
10. U.S. Green Building Council (USGBC) Kentucky
Wow loved it thankyou! I dreaded making this for a month thinking it would be a hassle. It wasn't thanks to you guys!
Excellent in all aspects. Perfect for new business owners with limited resources but wants to start it off right.