How To Form A C-Corporation With LegalZoom

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Information about How To Form A C-Corporation With LegalZoom
Business & Mgmt

Published on February 5, 2014

Author: FitSmallBusiness

Source: slideshare.net

Description

Formalizing the legal structure of your business is an important first step. Here is an overview of how to form a C-Corporation with LegalZoom.

How to Form a C-Corporation With LegalZoom

Forming a C-corporation can seem overwhelming at first.

Each state has its own process for registering a new corporation

Each state has its own process for registering a new corporation There are laws to which you must adhere, forms to fill out, fees to pay, bylaws to create and records to keep year-round.

Legal Zoom Automates the process of registering a C-corporation with your state and provides add-on services to help you manage the administrative tasks that go along with running a corporation.

Legal Zoom Automates the process of registering a C-corporation with your state and provides add-on services to help you manage the administrative tasks that go along with running a corporation. Automating what could otherwise end up being a very tedious process.

Of course, some business owners opt instead to spend thousands of dollars on a business attorney who can provide a higher level of service. But, for bootstrapped businesses, this option is not always be feasible.

How the Incorporation Process Works

The entire application process takes about 15 minutes with LegalZoom.

Information You Will Need to Register Your Corporation

The Incorporation Questionnaire is relatively straight forward. Other questions will require some thought and planning. But in general, be prepared to provide the following information.

The name of your corporation As long as there is not another company registered with the state that is operating under the same name, you have the freedom to select any name you choose for your corporation.

The name of your corporation As long as there is not another company registered with the state that is operating under the same name, you have the freedom to select any name you choose for your corporation. For more see our guide on choosing a business name here.

The name of your corporation As long as there is not another company registered with the state that is operating under the same name, you have the freedom to select any name you choose for your corporation. For more see our guide on choosing a business name here. Click here

The Trade Name Is the name your customers and suppliers will know your business by that clearly describes your specific business.

The Trade Name Is the name your customers and suppliers will know your business by that clearly describes your specific business. The legal name may be Acme Industrial of Dover, Incorporated but people will know your corporation by Dover Metalworking Tools

The Type of business you are running Some states require you to specifically list what type of business you will be involved in. Agriculture Utilities Financial Services Manufacturing Real Estate Transportation

The Address of your corporation This doesn’t necessarily have to be a commercial address. You can use your home address, but many states forbid you from using a PO Box.

The number of shares of stock being offered If you are planning to keep running your business yourself, the number of shares you issue is of little consequence.

The number of shares of stock being offered Startups and companies with a greater likelihood of seeking investment capital, will generally authorize at least 1,000,000 shares of stock during the incorporation process. As a general rule, the more shareholders you plan to have in your business, the more shares you want to have.

The price of stock The minimum sell price of each share is called the par value. The par value is usually a very small dollar amount like $.001 For more on setting par value for a new corporation go here.

Theend of your corporation’s fiscal year month and day Of the Most businesses align their fiscal year with their calendar year to make the last day of the tax year For seasonal business, you can get permission from the IRS to switch your fiscal year by filling out Form 1128.

The name and address Of your registered agent Your state requires you to have a registered agent on file. The registered agent is the person the state sends the official paperwork with regard to your business. For more on how to choose a registered agent go here.

How will you document Important business decisions Your C-corporation will need to document important business-related tax decisions and resolutions. Each state has a method by which your corporation should conduct board meetings and how the issues, decisions and results of those meetings should be documented.

The name of directors stockholders and key personnel Very often for small businesses, these individuals are one in the same.

The name of directors stockholders and key personnel Very often for small businesses, these individuals are one in the same. That is perfectly fine. It only takes one person to dream up a corporation, so if you’re currently an individual owner, you are the director, stockholder and key manager.

The number of employees you have Whether you have 50 employees or 0 employees, keep track and record that number in the Incorporation Questionnaire.

LegalZoom’s three-tier pricing

The filing fee can be anywhere from $25 to upward of a few hundred dollars, depending on the filing requirements in your state.

offers a three-tiered pricing plan for providing incorporation services. These are one-time fees: • Economy Package is $99 + state fees • Standard Package is $239 + state fees • Express Gold Package is $369 + state fees For each LegalZoom package, the core services are the same.

The premium packages include add-ons like official corporate seals, stock certificates, business forms and two-day delivery of final package.

Keep in mind that these ad ons are optional and not required for new corporations. For this reason we recommend going with the Economy package. You can see a full overview of each package here.

Keep in mind that these ad ons are optional and not required for new corporations. For this reason we recommend going with the Economy package. You can see a full overview of each package here. Click here

You can have secure a Tax Identification Number for your corporation with the IRS once the state corporation documents have been filed. You can also do this yourself for free here.

You can also keep on file as your corporation’s Registered Agent so that future correspondence from the State can be received and answered by LegalZoom automatically instead of coming to you. The Registered Agent service is an additional $159 per year.

Conclusion A C-corporation is designed to distinguish you from your business tax-wise. This type of corporation is a legal entity with rights and responsibilities of its own and it is taxed separately from its owners.

Forming a corporation will protect the investment you make into your business without forcing you to risk your personal assets.

Forming a corporation will protect the investment you make into your business without forcing you to risk your personal assets. Click Here to Start Forming Your Corporation With LegalZom Today

Forming a corporation will protect the investment you make into your business without forcing you to risk your personal assets. Click Here to Start Forming Your Corporation With LegalZom Today Click here

And Finally...

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