Filing a District of Columbia Corporation
Choosing to register as a District of Columbia Corporation could be advantageous to new business owners. That’s because a Corporation offers tax benefits and can help owners gain credibility with their customers. When filing to become a District of Columbia Corporation, it’s imperative that new owners meet all administrative requirements.
Steps To Filing A Corporation
Choose A Name
To form a District of Columbia Corporation, the first thing that prospective business owners must do is choose a name. The name they select should be unique to their business. They should not choose a name that is already in use by another organization. To prevent this from happening, owners can check out the DoMyLLC Name Availability Check Page.
Also, the District of Columbia requires organizations to include an indicator in their name. In this case, the new business owner will need to add something like, “corporation,” “incorporated,” “company,” “limited,” or any abbreviation of such a term, such as “Inc.”
Choose An Agent For Service Of Process
After choosing a name, new business owners will need to select a registered agent to serve on the company’s behalf. The registered agent is responsible for accepting legal correspondence for the organization. Experienced business owners know that hiring a quality registered agent can help the company tremendously, which is why many elect to utilize the services of a professional third-party company, such as DoMyLLC.
File Articles Of Incorporation & Pay Filing Fees
Once owners have chosen a name and registered agent, they can file the Articles of Incorporation with the Corporations Division. The filing fee associated with this form depends on the company’s authorized capital. The minimum filing fee is $220, which covers up to $100,000 in authorized capital. Information required on this form includes:
- Corporation name
- The number of shares which the corporation is authorized to issue
- The par value of each stock
- Name and address of the registered agent
- Miscellaneous provisions
- Incorporators’ name, address, and signatures
File Initial Report
The District of Columbia does not have an Initial Report requirement. However, owners should be mindful of Initial Reports if they wish to expand into another state.
Create Corporate Bylaws, Appoint Directors And Hold Meetings
Once authorized to do business, the Corporation should conduct its 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 the board is in place, directors can draft corporate bylaws, define the role of officers, and elect these officers. The Corporation cannot conduct business until the board has adopted bylaws. Bylaws are a private, internal operating manual that is an integral part of corporate compliance. Many insurers and banks will also not work with a Corporation unless they can provide proof of its bylaws.
While at the initial corporate meeting, directors should also issue stock. The Corporation cannot do so without the approval of the board. The amount of stock that the Corporation can issue should have been defined in the Articles of Incorporation. Additionally, the District of Columbia also requires corporations to maintain a stock ledger. The ledger is integral because it provides transparency to future investors, thereby protecting the corporate veil.
Obtain Employer Identification Number
A District of Columbia Corporation will also want to secure an Employer Identification Number. This number is provided by the Internal Revenue Service and allows companies to file taxes and open a business banking account. An EIN is also necessary to hire employees.
File District of Columbia Required Annual Reports
In the first year following registration, a District of Columbia Corporation will need to submit an Annual Report. The report is due by April 1 in the calendar year following initial certification. After sending the first report, companies can provide a report by April 1 every other year. There is a $300 fee to file these forms. Learn more at our District of Columbia Biennial Report page.
Although a District of Columbia Corporation files a Biennial Report every other year, they still have annual requirements, such as filing local and federal taxes as well as ensuring all licenses and permits are valid.
How DoMyLLC Can Assist With Streamlining The Process
At DoMyLLC, we streamline the administrative process so that new business owners can focus on growing their entity. Our services include:
- Name availability check
- Prepare Articles of Incorporation
- File Articles of Incorporation with the Secretary of District of Columbia’s office
- Provide sample bylaws, meeting notices and minutes for meetings
- Dedicated account manager
- Unlimited customer support
We are here to help you. Be sure to contact us today to learn more about how we can handle your administrative and regulatory requirements.