Your career is a major facet of your life, as well as a part of who you are. If you have spent years, or even decades amassing professional expertise and know-how, you may be growing tired of working for someone else. You can hardly be blamed–you work hard, day in and day-out, only to improve someone else’s bottom line. Well, if it is time to venture out on your own, this can be an exciting, if somewhat daunting time. By starting your own business, you can put yourself in the driver’s seat for your own professional destiny. Depending on how much work you are willing to put into it, an enterprise of your own can also generate uncapped earning potential. Of course, It cannot be undersold how much hard work it takes to launch a successful business. In the early days, especially, you can expect your business venture to monopolize much of your free time. You will also face a litany of important decisions pertaining to your product or service, your location, and the employees you will hire. Additionally, you may also want to consider how you plan to legally structure your business. If you are expecting to experience significant growth at a rapid clip, filing articles of incorporation may be the right move for you. By knowing how to complete a corporate application form online, you can save yourself valuable time and energy, which you can put back into growing your business.
Depending on the state in which your business is located, there are a number of different ways in which you can opt to legally structure your organization. If your business is a humble, one-person operation based out of your home office, you may find that a sole proprietorship is more than sufficient. For some, the idea of forming a partnership has an appeal, as it can defray some elements of risk while leaning on the expertise of a colleague or family member. Technically, a general partnership (GP) occurs whenever two or more individuals go into business together, but partnerships can add additional layers and nuances in the form of limited liability partnerships (LLPs). Similar to an LLP, limited liability companies (LLCs) offer easy setup and maintenance while bestowing a business with valuable tax and liability incentives. For businesses with more grandiose plans and ambitions, however, forming a corporation can be ideal. If your business is on such a precipice, you will want to read on to learn a bit more about what goes into a corporate application form, as well as how we can help.
When to Consider Completing a Corporate Application Form
How you ultimately decide to legally structure your business will likely come down to a number of important factors. For instance, is your main concern keeping things simple while also protecting your personal assets from any potential bankruptcies? If so, an LLC or LLP may make sense. If you are looking to grow your business quickly, however, you may want to explore the idea of filing articles of incorporation. The reason for this is that corporations can issue shares of ownership. This allows outside investors to purchase a fractional stake in your business, which can give you an influx of cash to be used to expand, boost your marketing efforts, or hire more employees.
In very simple terms, a corporation is its own legal entity, separate from that of its owners (incorporators). A corporation can borrow and lend money, own real estate, pay taxes, and hire and fire employees. Certain corporate structures also enjoy the concept of limited liability. This means that incorporators will be able to protect their personal assets, such as their homes or brokerage accounts, from any potential legal judgments against the business. Some corporate structures are also designated as “pass-through” entities by the Internal Revenue Service (IRS). Under this labeling, a business can pass gains, losses, deductions, and credits to its incorporators. When employed correctly, a pass-through designation can work wonders for your bottom line.
Submitting Your Articles of Incorporation Online
If you wish to incorporate your business, there is a formal process to follow. Typically, you will need to choose a corporate name that is unique from other businesses incorporated in your state. You will then need to draft articles of incorporation, which is a document you will file with your local Secretary of State’s office. This document should include some basic information about your business, its incorporators, and registered agent, as well as how many shares you plan to issue.
At Corporation Center, we can help you submit your corporate application form online. By using our easy-to-fill web template, you can complete your articles of incorporation with just a few clicks. To learn more about our services, take a moment to browse our navigation menu, or contact us by phone or email with any questions you may have.