Business Formation Help Guides and Resources | Page 2

Business Formation Help Guides

In which state should I incorporate?

When deciding in which state to incorporate, it is necessary to consider many different factors. The ultimate choice will depend on the particulars of your business’s situation and needs. First, you will need to become familiar with the relevant business laws in the state where your business is physically located. Incorporating in your home state ma...

Why is Nevada such a common state for incorporation?

Although Delaware is by far the most chosen state for business incorporation, Nevada has surged in popularity in recent years by introducing corporation-friendly rules. The top benefits for incorporating in Nevada are as follows: No state corporate income tax No corporate franchise tax No personal income tax No fees imposed upon corporate shares Cor...

How do I form an LLC?

Once an LLC has filed its certificate of formation, it should also complete the LLC operating agreement. Although the operating agreement is not compulsory under the law, it is essential for protecting limited liability status, preventing disputes among members, and ensuring that the company follows legal formalities. Without an LLC operating agreem...

Secretary of State Details for Company Documents

Alabama To obtain copies of your company's articles of incorporation or articles of organization online, visit Alabama's Secretary of State website. To request paper copies, complete this form and follow the instructions. Fees Non-certified copy: $1.50 per pageCertified copy: $5.00 per document plus $1.50 per page Alaska To obtain copies of your c...

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...

Do I have to file the articles of incorporation in person?

Very few states require that the articles of incorporation be filed in person, and even then, it is only required in a few states for those who wish to expedite the filing time. These days most states accept the articles of incorporation via mail or fax, and many are also now offering online filing portals....

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...