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In most states, you only need one person to form a corporation. Other state requirements vary, but usually no more than three are required to legally incorporate. An S corporation design is meant for small corporations. The major advantage of filing an S corporation as opposed to a standard C corporation is that you will not be required to file your shares with the Securities & Exchange Commission (SEC).
→ Read MoreCorporate by-laws are a corporation’s operational blueprint. By-laws outline the structure of an organization. They should be customized for each situation. By-laws set forth the rights and powers of the shareholders, directors, and officers and they determine how those in charge are nominated or elected and they help settle any disputes among parties.
→ Read MoreThere are many benefits of incorporating, ranging from liability protection to tax benefits. The primary reason many businesses incorporate is limited liability. Both corporations and LLCs allow owners to separate and protect their personal assets.
→ Read MoreIf you choose to incorporate outside of your home state, you will have to qualify as a foreign corporation in your own home state. For example, suppose you form your corporation in Delaware, Wyoming or Nevada. These are the most popular states for incorporating, but are physically present in another state. This means your business will be a foreign corporation in your home state.
→ Read MoreThe process of choosing a state to incorporate an Internet business is not substantially different than choosing where to incorporate a brick and mortar business. You must first ask yourself where you will be conducting all or the majority of your business. You should also consider other business issues such as privacy and tax benefits.
→ Read MoreThe actual formal process of creating a corporation is known as incorporation. The process involves completing and filing a Certificate of Incorporation or Articles of Incorporation and paying a filing fee. Each state has its own set of laws governing the process of incorporating. Corporate existence starts when the Articles of Incorporation are filed with the state office that handles incorporations (e.g., usually the Secretary of State or Corporation Commissioner), along with the required filing fees. Accelerated incorporations or same day filings are available in some states.
→ Read MoreWhile setting up a corporation without the help of an attorney is possible, you may want to take a look at all the variables before deciding to embark on this adventure by yourself. Aside from a corporation being a different legal structure than a partnership, LP or an LLP, there are different legal structures within the corporate form as well.
→ Read MoreFind the right lawyer for your legal issue.
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