The initial step of filing the Articles of Incorporation, for your South Dakota Corporation, has been completed by Guidant. The following information is important and will assist you in maintaining your corporate status:
- Articles of Incorporation: Within your Zip File there are several important documents. Your Corporation was established by filing “Articles of Incorporation” with the Secretary of State. You will find the Articles in the Corporate Documents folder in your Zip File.
- Tax Identification Number: The Tax Identification number for a business entity is known as an employer identification number (EIN). The EIN operates like a Social Security number for the entity and is required for many necessary activities, such as opening a bank account. Your EIN has already been filed with the IRS, and can be found in the Corporate Documents folder in your Zip File.
- Annual Report: All South Dakota corporations are required to complete Annual Reports. The first annual report is due on the first day of the second month in the year following that in which the Secretary of State initially chartered the corporation. Subsequent annual reports shall be due by the same date each subsequent year. The Annual Report form may be downloaded and printed from the South Dakota Secretary of State website. Please refer to the South Dakota Secretary of State website at http://www.sdsos.gov/busineservices/corporations_forms.shtm: There is a $30.00 filing fee associated with the Annual Report. Failure to timely file this report may result in monetary penalties or administrative dissolution of your Corporation.
- Business License: Your Corporation may be required to obtain a license or permit issued by the State of South Dakota. To assist you in making this determination, please refer to: https://dlr.sd.gov/workers_compensation/default.aspx for state, city and county licensing authorities.
- Business Taxes: South Dakota imposes various taxes on businesses. For more information, please contact the South Dakota Department of Revenue and regulation at (605)773-3311 or visit: http://www.state.sd.us/drr2/businesstax/bustax.htm.
- Employees: If your Corporation will have employees, state law may require worker’s compensation insurance coverage and you should visit the South Dakota Department of Labor at: http://www.state.sd.us/applications/LD01DOL/frameset.asp?navid=&filtertype=1 or call (605) 773-3681.
Many Corporations with employees will be subject to unemployment tax requirements. Information may be obtained from the South Dakota Department of Labor website at: https://dlr.sd.gov/ra/businesses/default.aspx or call at (605) 773-3681
- Financial Statements to Shareholders: Upon the written request of any shareholder of a corporation, the corporation shall mail to such shareholder its most recent financial statement showing in reasonable detail its assets and liabilities and the results of its operation.
- Record Keeping: Every corporation is responsible for keeping at its principle office: Correct and complete books and records of account, together with minutes of the proceedings of its incorporators, shareholders, directors, and committees of the directors, and records of its shareholders showing their names and addresses and the number and class of shares issued or transferred of record to or by them from time to time.
- Change of Address and/or Resident Agent Information: In the event that your Corporation’s principal office address, your registered office address and/or your resident agent changes, you will be responsible for taking the necessary steps to inform both the Secretary of State and the Internal Revenue Service (IRS) of the address change. You can notify the South Dakota Secretary of State of any changes using forms located at: http://www.sdsos.gov/busineservices/corporations_forms.shtm. To notify the IRS, we have included additional information, including a Change of Address IRS Form, in the file in order to assist you in completing this process.
- Additional State Requirements: It is important to note that the South Dakota Secretary of State may have additional requirements above and beyond what has been detailed above. It is your responsibility to read any and all information sent to you by the South Dakota Secretary of State or any other agencies, to assure that you are remaining compliant. Failure to remain compliant and/or respond to requests for information in a timely manner may result in dissolution of your Corporation.
This form is provided to you for informational purposes only. You are responsible for determining the correct information and completing the necessary requirements for your entity. Information provided is subject to change based on state requirements. It is important that you always check the information provided above with the most up to date information as provided by the Secretary of State and other government agencies.
