SUMMARY OF INCORPORATION STEPS
Liability and Asset Protection
By incorporating a business, the corporation becomes a separate legal entity from its owners, otherwise known as shareholders. Because of this, incorporating your business will allow shareholders to cease being personally responsible for any debts or claims against your corporation.
In general, corporations see many advantages including: paying income tax on net income (after deducting business expenses), lower effective tax rates that individuals in many cases, deductions for deprecation and others.
What are the different incorporation options and types?
There are a few major and minor differences and advantages between a C corporation, S corporation or limited liability company (LCC) from which business owners can choose when they choose to incorporate (as explained in detail below).
What are the registered agent requirements & fees?
In corporation law, a registered agent, otherwise known as a resident agent or statutory agent, is someone who is authorized to accept legal important documents on behalf of a business or company. States require an initial and annual statement fee and a business license fee. Please see the link below for more in-depth information.
What are the key steps for initial registration and compliance?
In order to get started in incorporating your business there are a few initial steps that business owners must first take. First, your business must choose a corporate name. Next, you must file your articles of incorporation with the Secretary of State and create several other books and records.