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-- Incorporation Basics
Provided by Business Filings Incorporated (www.bizfilings.com)
There are three major requirements for incorporating your business: securing your corporate name, filing the necessary
documentation and paying the necessary filing fees. You can complete these steps yourself, use an incorporation
service provider or have an attorney complete them for you.
Name Check, Documentation and Filing Fees -
When incorporating, you must first ensure that your corporate name is available in the state in which you want
to incorporate. Your corporate name must not be deceptively similar to a name that is already in use in that state.
A name check must be performed in the state of incorporation.
You must also prepare and file all the necessary documentation - the Articles of Incorporation - with the appropriate
state agency in the state of incorporation. Additionally, you must pay all state filing fees, initial franchise
taxes and any other initial fees. Each state charges a filing fee to form your corporation in that state. These
state filing fees vary greatly by state. They range from under $100 to over $400.
Do it Yourself, Use an Incorporation Service Provider or Use an Attorney -
If you decide to incorporate on your own, you need to be well versed in the laws of the state of incorporation.
You will need to prepare and file your own documentation and undertake all communications with the necessary state
If you use an incorporation service company, you submit the necessary information, and the company checks your
name, prepares and files your documents and pays the initial state filing fees on your behalf. Incorporation service
companies charge a nominal service fee on top of the state filing fees, and you can submit all the necessary information
to them over the Internet.
Attorneys will also undertake all of the necessary steps for you. If you use an attorney to incorporate, you can
expect to pay their hourly fee on top of the state filing fees.
How Long Does it Take?
The time the state requires to approve and return your completed Articles of Incorporation varies by state. On
average, it takes 4-6 weeks to become incorporated. Most states will allow you to expedite the filing process
for an additional charge; expediting filings typically take about 1 week. Those charges also vary by state.
After Incorporation - The Next Steps -
After your corporation is formed, an organizational meeting of directors must be held. At this meeting bylaws
are adopted, stock is issued and the incorporation process is completed. Minutes of the organizational meeting
should be kept in a corporate record book.
About the Author
Article provided by Business Filings Incorporated at www.bizfilings.com.
Visit them for all your incorporation needs.
Tags: Start and Run a Business