While setting up a corporation may seem extremely daunting and complex, the actual process of being recognized as a corporation only takes an application to the Secretary of State with some key company facts. If you’re looking to set up a corporation, then just follow the simple steps below.
Step 1: Create the Articles of Incorporation
You will need to check your local and state laws about the specifics to be included in the Articles of Incorporation, but they usually include basic factual information (such as name and physical address) and business statistics (like the number of shares).
Step 2: Determine the type of corporation.
There are two basic types of corporations, S and C. C corporations are the most common and indicates that the business will be responsible for its own tax burden. S corporations, on the other hand, leave the tax burden on the board of shareholders.
Step 3: File the application
You will need to file the Articles of Incorporation with the Secretary of State in the state that you are headquartered. You will also need to submit a check to cover the processing fee at the time of submission (check with your Secretary of State to determine this amount).
And you’re done! Officially and legally, you now are a corporation. However, even if you set up this corporation without a lawyer, you’ll probably want to consult with one in the near future, so it’s recommended that you start looking for good lawyers. One really easy way to find quality local lawyers is through TalkLocal. TalkLocal will instantly put you in contact with highly-rated local lawyers that can help you set up your corporation and deal with any other legal issues that arise as a result.
