Startups are getting fined, or sometimes banned, by individual states

Quick Summary:

Traact isn’t the only company that can help startups stay up-to-date on state compliance.

In 2022, Carta’s business license was revoked in Illinois for failing to pay franchise tax, a tax on national corporations doing business in the state, according to state records seen by TechCrunch.

If a company tells their employees they can work from wherever, they are setting themselves up to have to file a foreign business entity every time someone moves to a new state.

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Article Details

Author / Journalist: Rebecca Szkutak

Category: Technology

Markets: United StatesMexico

Topics: Compliance Venture capital Startups Pulley Venture Carta

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-07 @ 15:00:00 (13 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1698 words

Reading Time: 10 minutes read

Sentences: 82 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 22398560

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About TechCrunch

Main Topics: Technology

Official Website: techcrunch.com

Update Frequency: 7 posts per day

Year Established: 2005

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

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Publisher ID: #20

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