If you happen to own a business, you are no stranger to hard work. After all, it took years –perhaps decades–of putting in tireless efforts in the professional world to accumulate the experience necessary to launch your enterprise. Then, when you finally took that entrepreneurial leap, you had to sacrifice your nights and weekends in order to get up and running with a solid foundation. As you probably take a great deal of well-earned pride in your business, you owe it to yourself and your employees to do everything you can to better position your organization for success. For some business owners, this means taking the necessary steps to incorporate their business. While having a corporation can unlock certain opportunities, it can also come with new rules and regulations that your business will need to adhere to. Before you begin the process of drafting articles of incorporation, you may want to learn a bit more about what a corporation is, as well as how you can process your incorporation documents online.
When you form a corporation, you are assigning your business a legal structure. While some find there to be an appeal in creating an S- or C-corporation, other businesses may think differently. Ultimately, the legal structure that you settle on for your business should take into consideration your long-term goals and concerns. For instance, if you are looking for a structure that requires little maintenance but offers limited liability protection, a limited liability company (LLC) may be right for you. Other types of business, such as legal or medical practices, may gravitate toward the idea of forming a general or limited partnership. If you are focused on growth, however, submitting incorporation documents online may be a logical choice for your business.
Why Form a Corporation?
As you look at potential pathways for structuring your business, it may be a wise maneuver to further acquaint yourself with the corporation as a concept. In short, forming a corporation separates your business into its own legal entity. This means that a corporation can pay taxes, own real estate, borrow and lend money, hold bank accounts, and hire employees. When you create a corporation, you give your business the ability to issue shares of ownership. By selling shares of your company to outside investors, you can generate quick capital which can be used to further fund the growth of your business. You can use this cash to hire a larger staff, open a new location, or contract a marketing agency. In exchange for their investment, shareholders receive the opportunity to share in the success of your business.
Certain corporate structures can also enjoy “pass-through” status with the Internal Revenue Service (IRS). This means that your corporation can pass gains, losses, credits, and deductions to its incorporators, which can help you potentially avoid paying taxes “twice.” Some corporate structures also grant you limited liability protection. Under this designation, if your corporation faces costly lawsuits or bankruptcy, its owners will be able to shield their personal assets from any possible legal judgments. In other words, should the unexpected occur, you do not need to worry about forfeiting your home or retirement accounts.
How to Submit Incorporation Documents Online
Corporations, as business structures, are available in all 50 states. You will want to investigate your state’s corporate tax rates and rules and regulations prior to drafting your articles of incorporation, as some states are more business-friendly than others. The process may vary a bit from state to state, but in general, you should start by choosing a name for your corporation that is unique from other businesses incorporated in your state. Then, you will want to appoint a registered agent. This individual will be charged with receiving all tax, government, and legal correspondence on behalf of your business.
After completing your preliminary actions, you can move ahead with filing your incorporation documents online. This is typically done by completing articles of incorporation. This document should include some basic details about your business, as well as its incorporators and registered agent. You will also want to note how many shares you plan to issue. By working with us at Corporation Center, you can draft your articles of incorporation online using our web templates. With our streamlined web forms, you may find that you can save yourself valuable time and energy, which you can then put back into growing your business.
We Have the Forms Your Business Needs
Whether you are looking to incorporate your business, or if you want to form a limited liability company or limited liability partnership, we can help. At Corporation Center, we have fillable web forms for business structure matters in all 50 states. To learn more about our services and how we can help you, take a moment or two to read our Frequently Asked Questions page. You can also contact us by phone or email with any questions you may have.
