Are you thinking about launching a business of your own? While entrepreneurship can be uniquely rewarding, it is not without its various challenges. While you can certainly lean on your years of professional experience and corporate know-how, there will definitely be a learning curve as you pick up some of the nuances that come with owning and operating a successful business. As you lay the foundation for your enterprise, you will want to start with a comprehensive business plan that identifies your market as well as your overhead costs. You will also need to shop around and determine which vendors offer you the best value. There is also the issue of hiring a team–any business owner will tell you that this is one of the most difficult aspects to get right. With your preliminary measures in place, though, you can better position your organization for success. With this in mind, early on, you may also find it beneficial to consider how you will legally structure your organization. If you are interested in submitting articles of incorporation, you may discover that working with an online corporate processing service such as ours at Corporation Center can save you considerable time and energy.
There are, of course, a multitude of different ways in which you can choose to legally structure your business. The formation that you ultimately decide on should take into account both your immediate business needs as well as your long-term goals. If you are operating your business completely on your own in more of a part-time fashion, it is logical that a sole proprietorship may make sense for you. Perhaps you are working with a colleague or family member? In that case, setting up a general partnership (GP) with a profit-sharing agreement, or a limited liability partnership (LLP) may be the right maneuver. Limited liability companies (LLCs) are also especially popular with new and seasoned entrepreneurs alike, as they are low maintenance and have valuable tax incentives. If you are really thinking big picture with an eye towards growth, however, forming a corporation may be the right choice for your business. By using an online corporate processing service, you can submit all of the documents you need to get your business up and running with just a few clicks.
Is a Corporate Processing Service Right for You?
When the average individual hears the word “corporation,” they may associate the label with large, multinational conglomerates. While it is true that these large organizations tend to take on the form of corporations, these structures are also available to small- and medium-sized enterprises as well. As it turns out, there are many reasons to consider filing articles of incorporation. For one, certain corporate structures can afford you and your other incorporators limited liability protection. This means that if your business is sued, or if you need to file for bankruptcy, you and the other incorporators will be able to shield their personal assets, such as homes and savings accounts, from any potential legal actions. As you probably can imagine, this is an effective way to mitigate some of the inherent risks involved in starting a business.
In some corporate structures, you can also receive “pass-through” status from the Internal Revenue Service (IRS). With this distinction, your corporation can pass gains, losses, deductions, and credits to its incorporators, which can be a sound tool for lowering your tax bill. One major advantage that corporations offer, though, is that they allow you to issue fractional shares of ownership to outside investors. This allows you to generate quick cash to grow your business while your investors can profit from your overall success.
If a corporation sounds right for your business, there is a general process to follow (though it may vary a bit, depending on your state). You will need to choose a corporate name that is distinct from the businesses already registered in your state. You will also need to appoint a registered agent who can receive all legal, government, and tax correspondence on behalf of your business. From there, you can use our corporate processing service to prepare and file your articles of incorporation online.
Work with Us and Grow Your Business Today
Whether you are interested in drawing up articles of incorporation or launching an LLC or LLP, we have online forms that can help you. Simply select your state from our easy-to-read navigation menu, and you will be brought to a landing page that features our available web templates. To learn additional information, you can also visit our Frequently Asked Questions page. If you have any other questions about how we can help you, do not hesitate to contact one of our helpful customer service agents by phone or email today.