Form a Corporation
Looking forward to having your own IPO? A Corporation may be the right fit for you. Have robust liability protection for your personal assets and sell shares of your stocks. You’ll have the freedom to divide up voting rights with different classes of stock and have more than 100 shareholders.
What Distinguishes a Corporation?
A Corporation (C Corp) is a general corporation, a legal entity owned by its stockholders. It’s regarded as a singular entity regardless of how many people start it together, however, a single business owner is all that’s required to form a Corporation.
In a Corporation, the business’s profits are taxed separately from its owners, i.e. stockholders, under sub-chapter C of the Internal Revenue Code. A Corporation is the most common type of business organization to form.
There are several advantages to forming a Corporation, including limited individual liability. Officers, directors, and stockholders (owners) are not held personally liable for a company’s debts and obligations, meaning creditors cannot come after stockholders’ personal assets to settle debts. This is the primary advantage of a Corporation and what makes it so appealing to potential owners.
Another advantage of a Corporation is that corporate taxes do not pass through to stockholders.
When you decide to Form a Corporation it is important to note that it is more complicated than forming a simple sole proprietorship or partnership. The steps to do formation include:
- Choosing a business name
- Designating a Board of Directors
- Registering the Articles of Incorporation
- Drafting bylaws
- Drafting a stockholder agreement
- Opening bank accounts in the corporations name
- Holding an initial corporate meeting with the board of directors
- Obtaining a Federal Employee Identification Number (EIN) from the IRS
- Obtaining any necessary licenses, permits, insurance, etc.
Why choose DoMyLLC to help form a Corporation?
- We provide personalized support at every stage of the filing process
- We help form a Corporation quickly and efficiently
- We streamlined the steps to make the process as easy, fast, and convenient as possible
- We offer unparalleled experience
- We offer live support services
- Complete customer satisfaction guarantee
- Price match guarantee
Comparison Chart
While corporate taxes will pass through to stock holders in S-Corp and LLC structures, they do not pass through in C-Corps.
FAQ
At its most basic, a corporation is a legal entity; in other words, it is regarded as singular regardless of how many people choose to start a corporation together.
The protection granted to stockholders’ personal assets makes the Corporation structuring noteworthy.
These are all names for general corporations.
Businesses of any size are eligible for incorporation. A single business owner is all that is required to begin a C-Corp.
See our complete FAQ list here.
Ready to Start Your General Corporation?
DoMyLLC is here to help you start your general corporation; all it takes is $99 + applicable state fees. Only two steps are involved; start by completing your order and finish by verifying and signing the required documents. We handle all of the paperwork so you can feel confident that everything is done correctly.
Package Includes:
- Name Availability Check
- Articles of Incorporation
- Sample Bylaws
- Notices of Various Corporate Meetings
- Minutes to Document Meeting
- Compliance Calendar
If you’re interested in more info on forming an C-Corp, please call us at 888-366-9552.