Filing a Connecticut Corporation
The Connecticut Corporation is appealing to many business owners because of the advantages it offers, such as tax benefits and the ability to gain credibility with customers. However, many first-time owners find themselves a bit overwhelmed with the administrative and regulatory requirements. It’s essential that new owners file correctly and complete all administrative responsibilities.
Steps To Filing A Corporation
Choose A Name
The first thing that prospective business owners must do is choose a name for their Connecticut Corporation. The state of Connecticut requires businesses to include an indicator in their name. In this case, something like “incorporated,” “corporation,” “company,” “limited,” or an abbreviation of any such term, such as “Inc.,” would suffice. Additionally, the state of Connecticut does not allow two Corporations to have the same name. To prevent themselves from selecting a name that is already in use, business owners can check out the DoMyLLC Name Availability Check Page.
Choose An Agent For Service Of Process
After choosing a name, new business owners will need to secure a registered agent. The registered agent is responsible for accepting all legal correspondence on the company’s behalf. Because the registered agent could be so critical to a company’s success, many incorporators elect to hire the services of a professional third-party company, such as DoMyLLC.
File Articles Of Incorporation & Pay Filing Fees
Once new business owners have secured a name and registered agent, they can begin filing the Certificate of Incorporation with the Commercial Recording Division of the Connecticut Secretary of State’s Office. The filing fees for the form depend on the number of shares the company plans to issue, although the minimum cost is $250. There is also a $50 expedite fee. Information needed for the Certificate of Incorporation includes:
- Name and address of the filing party
- Name of the corporation
- Total number of authorized shares
- Share classes and the number of shares per class
- Registered agent information, including name and address
- Signature of acceptance from the registered agent
- Option election of Benefit Corporation Status
- Other provisions
- Corporation email address
- Name, signature, address of each incorporator
File Initial Report
The state of Connecticut requires a Corporation to submit a First Report within 30 days of the initial corporate meeting. There is a $150 fee to file this form. Learn more at our Initial Reports page.
Create Corporate Bylaws, Appoint Directors And Hold Meetings
Once the state has accepted the Certificate of Incorporation, incorporators can begin holding the initial corporate meeting. Those who filed Articles of Incorporation are responsible for overseeing the meeting. Incorporators should appoint individuals to the board of directors at this meeting and record this information in the corporate records. Directors will serve on the board until the next annual meeting of the shareholders, where they will be up for re-election.
Once in place, the board can draft corporate bylaws, elect officers, and define the role of each officer. Bylaws are the internal operating manual for the Corporation and are not made public. However, the board of directors must adopt bylaws before the company can begin conducting business. Additionally, many insurers and banks require proof of bylaws before working with Corporation.
While at the initial corporate meeting, directors should also issue stock. The board will need to give their approval to do so. The Articles of Incorporation should have outlined how much stock the Corporation can issue. The board of directors have the authorization to issue stock at any point during the life cycle of the company. It’s imperative that when doing so, they keep a stock ledger. This will protect the corporate veil and provide clarity for future investors.
Obtain Employer Identification Number
A Connecticut Corporation will also need to contact the IRS to secure an Employer Identification Number. The company will need this number to open a business banking account, file taxes, and hire employees.
File Connecticut Required Annual Reports
Each year, a Connecticut Corporation will need to file an Annual Report with the Secretary of State’s office. The report is due by the anniversary registration date. There is a $150 fee to submit this form. Learn more at our Connecticut Annual Report page.
The Connecticut Corporation will also need to file taxes and renew all licenses and permits each year. Both of these activities must occur at both the state and local levels.
How DoMyLLC Can Assist With Streamlining The Process
We understand the amount of work that goes into forming a Connecticut Corporation, which is why we streamline the process. Our services include:
- Name availability check
- Prepare Articles of Incorporation
- File Articles of Incorporation with the Secretary of Connecticut’s office
- Provide sample bylaws, meeting notices and minutes for meetings
- Dedicated account manager
- Unlimited customer support
At DoMyLLC, we want to help new business owners succeed. Be sure to contact us today to learn more about how we can help.