Packages starting at $59
Along with official records filed with the state, company rules/regulations outlined in the Bylaws and Minutes of official company meetings need to be kept on record at all times as well.
Here at DoMyLLC, our trained LLC specialists understand the needs of small businesses and are dedicated to providing excellent customer service. Incorporating with DoMyLLC takes 15 minutes of your time. Simply place an order and provide a signature if needed. We make it that easy to DO.
Have Questions? Speak with a DoMyLLC specialist at (888)-DoMyLLC (366-9552).
Information on Bylaws
Bylaws are documents drafted by directors and founders of a corporation.
Bylaws generally outline:
- The rules and regulations as to how a corporation may or may not transact business.
- How to elect or remove directors and officers.
- Power and duties of officers and directors.
- Location and time of annual meetings.
- Voting rules for directors and shareholders.
The Bylaws are for internal purposes only. They are not something that is required to be filed with the Secretary of State, however corporations are REQUIRED to have them.
The bylaws are adopted by the incorporator of the business.
Information on Minutes
Minutes are a record of what took place during a specific corporate meeting. Decisions made for the corporation are documented in the minutes. Corporate minutes are a formality that is REQUIRED by all corporations.
Things generally documented in minutes are:
- Type of meeting being held.
- Time and place of the meeting.
- People in attendance.
- Chair holding the meeting and the person taking minutes.
- Actions and decisions such as hiring, expenses, new partners, etc.
- Signature of record and date.
Corporation’s not holding meetings and recording minutes run the risk of having their corporate veil pierced. When the corporate veil is pierced, officers, directors and shareholders may lose their liability protection and can be held liable for corporate debt.
What is the difference between a corporation and an LLC?
The main between the two are the formalities. Corporations are required to hold annual meetings, take meeting minutes and issue stock. With an LLC, the company is not required to hold meetings, take meeting minutes or issue stock. Do to the fact that there are far less formalities in an LLC, they have become a very popular entity structure in recent years. If you have questions, please contact our office toll free at (888)-DoMyLLC (366-9552).
What information is needed when incorporating?
The information needed to file the Corporation:
- Corporate name
- Business address
- Registered agent and physical address
- Officers of the corporation
- Directors of the corporation
- Authorized shares and par value
- Business activity
Who owns a Corporation?
The owners of a corporation are called “Shareholders.” The shareholders own the company based on how much stock they have purchased.
Example: Tom and Mark go into business together. The Articles of Incorporation state that they are authorized to issue 1500 shares of stock. Tom purchases 600 shares of stock and Mark purchases 400 shares. Since 1000 shares have been issued and Tom owns 600, he would own 60%. Since Mark owns 400 shares, he would own 40%. (Keep in mind there are still 500 shares left that can be sold at a later date which will affect ownership % once they are sold).
What is a Board of Directors?
The Board of Directors are appointed by the shareholders. The directors jointly oversee the activities of the company. It is the responsibility of the board members to carry out the orders of the shareholders. In most small corporations the Board of Directors are also the shareholders.
Who are officers in a Corporation?
Officers are responsible for running the day to day activities of a corporation. Officers are generally appointed by the board directors. Although many different officer positions may be appointed, there are three main officers in a corporation:
- President – Is the top executive in the company. They are responsible for the overall management of the company and ensure the duties set forth by the Board of Directors are carried out.
- Secretary – Is generally responsible for maintaining all corporate records and documents.
- Treasurer – Is the chief financial officer of the company and is responsible for all corporate finances and bank accounts.
What is a Registered Agent?
A Registered Agent is a person or authorized entity, who can accept legal documents and notifications from a government office on behalf of an LLC. All LLCs must designate a person or entity to act as their registered agent. The agent can be anyone in the state as long as they are at a physical location and available during normal business hours. Our office includes this service in our package in order to ensure proper state requirements are met. For more information on our registered agent services please click here.
What is the process once you complete an order?
- Review & Processing – Your order will be reviewed and processed by one of our document filing specialists.
- Signature – Documents need to be signed.
- State Approval – the documents will be sent to the state for approval.
- Completion – Once we receive the final paperwork back from the state, we complete your order and send the final documents for your records.
What will I receive in my package?
All standard packages include the following:
- Filed Articles of Incorporation
- Customized Bylaws
- Minutes for Meeting
- Stock Certificates
- Registered Agent Service for 1 year
- Document Storage
- Compliance Reminders & Tips
What is required once the Corporation paperwork is completed?
Most states require that a Corporation file an annual report with the state and pay a filing fee. The company is also required to file taxes just like an individual. Our office can assist with the annual report filing, however, we are unable to assist with taxes (speak with a CPA or tax professional).
How do I file taxes for a Corporation?
The best way to find out about taxation questions for your business would be to speak with an accountant. Here at DoMyLLC we specialize in prepare state paperwork and are not qualified to answer specific tax questions. .