Expanding into a Non-Resident State

[Everman]

Hello,

I am a lone producer in my own business. In my home state, I have my Producer License and I have my agency license. I would like to be able to write business that happens to be located in another state. I have my non-resident producer license already in that state. Is it necessary to also get a business entity license in the new state?

Thank you,

- E

 

[marindependent]

Is it necessary to also get a business entity license in the new state?

No, not typically required. There may be tax reasons to consider this, but you do not usually need to do this.

I have my non-resident producer license already in that state.

Congratulations.

I am a lone producer in my own business.

What lines of business?

 

[DHK]

Is it necessary to also get a business entity license in the new state?

If you want the commission you generate from that state to be paid to your business entity, then it is required.

If you don't care, OR you know you can assign that income to your entity, then it won't matter.