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South Dakota is a franchise registration state. So, you must file your FDD with the Division of Insurance and Securities Regulation of the South Dakota Department of Labor and Regulation prior to offering or selling franchises in the state.
North Dakota is a franchise registration state. Before you offer or sell a franchise in North Dakota, you must register your Franchise Disclosure Document (FDD) with the North Dakota Securities Department.
In South Dakota, corporations file an annual report each year. True to its reputation as an incredibly tax-friendly state, there is no state corporate income tax and no personal income tax. And unless you're a financial institution, there's no corporate franchise tax either.
Look for keywords like "franchise" or "become an owner." Additionally, online business directories can be a great resource for finding out if a brand is a franchise or not. A second key indicator for identifying franchises is the Franchise Disclosure Document (FDD).
Yes, you can be your own registered agent in South Dakota. However, after considering the registered agent requirements most business owners elect to hire a registered agent service instead. Why?
Questions? As one of several states in the United States that requires registration of franchise offerings, the Minnesota Department of Commerce-Securities Division is responsible for overseeing and helping to maintain the integrity of the franchise community in the State of Minnesota.
Although South Carolina is not a franchise registration state, it has enacted Business Opportunity Laws that, if triggered, require the filing of a notice and, potentially, the registering of your franchise offering as a business opportunity.