There are three major requirements for incorporation:
1 - Secure your corporate name
2 - File the necessary documentation
3 - Pay the necessary filing fees
You can complete these steps yourself by using an
incorporation service provider or having an attorney complete the
incorporation steps for
you.
Name Check, Documentation and Filing Fees -
When incorporating, you must first ensure that your
corporate name is available in the state in which you want to
incorporate.
Your corporate name must not be deceptively similar to a
name that is already in use in that state. A name check must be
performed in the state of incorporation.
You must also prepare and file all the necessary
documentation - the Articles of Incorporation - with the appropriate
state agency in the state of incorporation.
Additionally, you must pay all state filing fees,
initial franchise taxes and any other initial fees. Each state charges a
filing fee to form your corporation in that state. These state filing
fees vary greatly by state. They range from under $100 to over $400.
Do it Yourself, Use an Incorporation Service Provider
or Use an Attorney -
If you decide to incorporate on your own, you need to be
well versed in the laws of the state of incorporation.
You will need to prepare and file your own documentation
and undertake all communications with the necessary state agencies.
If you use an incorporation service company, you submit
the necessary information, and the company checks your name, prepares
and files your documents and pays the initial state filing fees on your
behalf.
Incorporation service companies charge a nominal service
fee on top of the state filing fees, and you can submit all the
necessary information to them over the Internet.
Attorneys will also undertake all of the necessary steps
for you. If you use an attorney to incorporate, you can expect to pay
their hourly fee on top of the state filing fees.
How Long Does it Take?
The time the state requires to approve and return your
completed Articles of Incorporation varies by state.
On average, it takes 4-6 weeks to become incorporated.
Most states will allow you to expedite the filing process for an
additional charge; expediting filings typically take about 1 week. Those
charges also vary by state.
After Incorporation - The Next Steps -
After your corporation is formed, an organizational
meeting of directors must be held.
At this meeting bylaws are adopted, stock is issued and
the incorporation process is completed. Minutes of the organizational
meeting should be kept in a corporate record book.
This article is provided courtesy of Business Filings Incorporated (www.bizfilings.com).
This information should not be construed as legal advice,
or as a substitute for consulting with an attorney, CPA (or their equivalent
outside the U.S.), or other appropriate small business trusted advisor. Small
Biz Tech Talk strongly recommends that you seek proper professional guidance
before establishing any type of new business entity and simply provides this
information, and a link to Business Filings Incorporated, for your convenience
and as part of a content sharing syndication agreement.
Incorporation Articles from Business Filings Incorporated:
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