After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Washington corporations.
Washington corporations must keep the following items with their corporate records at the principal office:
- The Articles of Incorporation and any amendments
- Financial statements for the past three years
- Minutes of shareholder meetings for the past three years
- Records of actions taken by the shareholders without a meeting for the past three years
- Written communications to shareholders for the past three years
- A list of names and business addresses of current directors and officers
- The corporation’s initial report and the most recent annual report
Corporate taxes and fees
The following are taxation requirements and ongoing fees for Washington corporations:
- Annual report. Washington requires corporations to file an annual report on or before the last day of the anniversary month of the company’s incorporation. The cost is $69.
- Taxes. For complete details on state taxes for Washington corporations, visit Business Owner's Toolkit or the State of Washington.
- Federal tax identification number (EIN). An EIN is required for corporations that will have employees. Additionally, most banks require an EIN in order to open a business bank account.
- State tax identification number. Washington requires a state tax identification number.
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
S corporation election
Washington does not recognize the federal S corporation election and does not require a state-level S corporation election. You can still have an S corporation in Washington. The S corporation will only be an S corporation for federal tax purposes and not for state tax purposes. For state purposes, the corporation will be treated as a regular C corporation.
Additional Washington information
View the following additional resources BizFilings has for forming and maintaining companies in Washington:
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