How to Form an LLC or Incorporate a Business

Growth Strategies for Small Business

How to Form an LLC

The LLC requires much less formality, while still protecting the personal assets

of the business owners from any liability of the company. For an LLC, you’ll need to file Articles of Organization or Certificate of Organization with your state’s secretary of state. While the LLC is less formal, these documents must contain at least the minimum requirements as described by state law before they can be successfully filed (and your LLC processed).

How to Form a Corporation

To form a corporation, you’ll need to take the following steps:

• Draft “Articles of Incorporation” or “Certificate of Incorporation”
• The Articles of incorporation must be executed by a person designated as “incorporator.” The incorporator must be an adult and doesn’t need to be affiliated with the corporation in any way other than merely filing the document. Later, this person will pass a resolution assigning all rights and duties to the board of directors.
• Submit your articles of incorporation. In most states, the agency responsible for corporate filings is the Secretary of State (usually the Corporations Division).
• Once the state office has processed your documents, they will return the certified documents to the address provided.
• Elect a board of directors: The Incorporator executes a corporate resolution electing a board of directors assigning all rights and duties to the board.
• Issue shares: The Board of Directors issues shares to designated shareholders.
• S-Corp: And lastly, if you want the pass-through tax treatment of an S-Corp, you’ll need to file IRS Form 2553 with the IRS within 75 days of the start date of your corporation.

Source: smallbiztrends

Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.

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