Requirements for Incorporating a Business
The requirements for articles of incorporation vary from state to state. Would you like to see what are the information you need to come up with to incorporate your business in your state? Follow the link we have and find your state's articles of incorporation requirements.
Also find here the basic data required to incorporate a business.
Basic Data Required in the Articles of Incorporation
Deciding to incorporate a business requires the filing of articles of incorporation with the office of the Secretary of State or a state office designated for that function. One can write the articles of incorporation, but usually, state offices provide pre-printed forms of incorporation, and some provide downloadable pdf documents in their Web sites.
The articles of incorporation, once approved, establishes the legal existence of a corporation in a particular state or states. It establishes the basic information of the business. Among the most basic disclosures required in the articles of incorporation are: corporate name, corporate address, corporate purpose, name of the corporation’s registered agent, address of the corporation’s registered agent, stock information and the names of the incorporators.
Under the stock information section, the number of shares the corporation is authorized to issue is set. The classes of shares are also identified as well as their value. The articles of incorporation may also require the names of the directors, in which case it should include their signatures in addition to that of the incorporators.
Articles of Incorporation Forms of the States
The disclosure requirements for articles of incorporation vary from state to state. Check here for each state’s articles of incorporation. The filing fees also vary and could be a set amount and/or based on the number of shares authorized. They usually range from $75 to $125, although they could be as low as $45 and as high as $300. The amount also depends on whether the corporation is a non-profit or a for-profit organization.
Other Data Required in the Articles of Incorporation
Other documents that may be required when incorporating are company bylaws, board and shareholder resolutions, as well as stock ledger and certificates. Stock issuance is governed by state and federal securities laws. Agreements are also drawn to set how shareholders hold their interest in the business. Corporate lawyers could help new companies go through the process of incorporation, stock issuance, and holding the first shareholder meeting.
In all of these decision-making processes, a minute book is necessary to keep a record of resolutions and plans made during the board or shareholders meeting.
Permits, Registrations and Tax IDs
In addition, corporations and all businesses in general, are required to get permits and registrations to comply with city, state and federal laws. Regulations vary by industry and by jurisdictions. To see required state licenses for incorporating a business, visit USA.gov.
A corporation would also have to apply for federal tax ID number and state sales tax number. Visit this site for information on social security number or federal tax ID number. If the company plans to have employees, it is further required to comply with state and federal labor regulations. For information on Employer ID Numbers, see.