Incorporate My Business
When asking yourself “Should I Incorporate My Business?”, or “How can I Incorporate my business?” the answers can be very complicated.
To simplify things lets go over the basics of this process. To begin with the first question you should be asking yourself is: What Business Entity best Suits my business now?
Their is a wide selection of business entities to choose from, your current business structure should play a major role in this choice.
Below you will find a list of business entities, review each of them to decide which best suits you. Remember, that as your business grows you can always change entities.
If you have already chosen a corporate entity the best suits your business, congratulations you are ahead of the crowd.
Incorporation Process:
The first step is to make sure your business name does not conflict with any other trademark and copyrighted names, do this by searching the US Patent and Trademark Office. Also most states require you to register a DBA(Doing Business As) which is the fictitious name you will be filing your paperwork under. This name is required to be registered before you file the paperwork for your corporation.
The next step is deciding who will file your paperwork and the state you want your corporation registered under. Each state has different rules and regulations, some give better advantages then others so I recommend you research the state you wish to incorporate with. You will also need a Registered Agent, that will be capable of receiving official corporate forms and paperwork. The Agent needs to reside in the chosen state. This can be anyone you choose ranging from a family member, a lawyer, you, or a filing service specifically hired.
Now its time to file the paperwork! This step is bit confusing if you are planning on self filing and have little or no experience. When self filing is done incorrectly it can become an expensive problem to fix. The other choices you have are, hiring a business attorney which can be very expensive, or a filing service to complete this task for your business.
The Final Step is stock distribution, this process can be easy or hard depending on the structure of your business. The more shares of stock you issue the more costly your yearly filing fees will be, this is a common rule in most states. You can design many different levels of stock which have different voting and ranking rights in your company. The levels of stock you create will be defined in your incorporation documents.
Now that you know the long, and sometimes confusing process of incorporating I’ll reveal to you a fast, easy and inexpensive service to automate this process.
MyCorp, is a Reputable Incorporation service, a few of the features they offer:
