Business Formation Help Guides and Resources | Page 2

Business Formation Help Guides

How do I choose a name for my business?

When completing your articles of incorporation you will need to indicate a unique name for your business. The name should not lead consumers to confuse your business with another business already in existence, especially if that business operates in the same region or industry in which you plan to conduct business. Best practice is to shortlist your...

Does a nonprofit need corporate bylaws?

Federal tax law does not require nonprofits to maintain corporate bylaws or to include any specific language. However, most states require nonprofits to maintain updated bylaws, and it is generally advisable to do so even if not mandated by state law....

What documents are necessary to form an LLC?

Formation To form an LLC, complete and file your articles of organization (sometimes called a certificate of formation). Governance Although you do not need to file an LLC operating agreement, this is a core document that defines who owns the LLC, how it will be managed, how the membership will handle profits, and more. Ownership Although many LLCs...

What are meeting minutes?

Meeting minutes are used to record all items discussed and resolutions passed at board meetings. Maintaining these records is much more than a mundane formality. Minutes play an important function in helping the business show how important decisions were made and which members voted for what. Corporations are required to keep these records in order...

How is an LLC taxed?

An LLC is a pass-through entity. That means that the earnings of the LLC are actually taxed through the owner or owners of the LLC. That also means that there are no federal corporate taxes that are imposed on the LLC and it is ultimately a saving for the business. As such, the owner or owners report the profits and losses on their own individual in...