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Form a Benefit Corporation

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Forming a Benefit Corporation (often referred to as a "B-Corporation") provides personal asset protection and formalization of your business structure, and market differentiation as a mission-driven business. B-Corporations are a new type of legal entity, falling between a standard for-profit corporation and a non-profit.

The Benefits Of a B-Corporation Include:

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Not sure which entity is best for you? Take our "help me choose " interview, or click here to see the details of the various options.

Learn More From B Corp Experts

Why form a B-Corporation?

Chances are you've considered the key benefits of forming a B-Corporation:

  • Secure your personal assets through liability protection
  • Unlike traditional corporations, B-Corporations have an have an underlying purpose of meeting social and environmental goals, and committing to higher standards of purpose, transparency and accountability.
  • Provide for the issuance of stock in your company
  • Most B-corporations strive to have higher accountability and seek to build growth from the underlying business purpose of supporting sustainability
  • Establish credibility with customers

But you have a company to manage, and forming a b-corporation takes time.

Let MyCorporation save you time and hassle when you use our expert document filing services to take this next step.

  • We make B-Corporation formation affordable.
  • Our B-Corporation formation services start at just $69 (plus required government fees). Lawyers charge, on an average, over $200 per hour. With our document filing services, you know that your entity will be set up and filed with the state.

  • We take the bureaucracy out of forming a B-Corporation.
  • It is true that you can file the documents with the state yourself. However, we have provided this service to hundreds of thousands of small business owners and entrepreneurs just like you. We have the experience and know-how and we can take care of all of the details for you. We can do it for you at a price that makes sense for your business. You will save your time and resources. Once you decide to form a B-Corporation, simply fill out our online application and we take care of the rest.

  • Help is a phone call away.
  • Call one of our business filing experts to walk you through the B-Corporation formation process. Or, simply answer our online questionnaire. It will take you no more than 10 minutes, or give us a call and we can take your order over the phone. We are an online service, backed by real people.

Why choose a B-Corporation vs. a C-Corporation? B-Corporations and a C-Corporations share common corporate structures as both entities are organized under the same general corporation code in their state of incorporation. You can also make an S-Corporation tax election associated with a B-Corporation in the same way you would do so with a C-Corporation. The primary difference between these two legal entities is that the stated purpose of a B-Corporation as set forth in its Articles of Incorporation is to make a material positive impact on society and/or the environment. B-Corporations are therefore legally required to be a positive instrument for change. Furthermore, there are established reporting requirements that B-Corporations must meet relative to the entity's social and environmental performance.
A traditional for-profit corporation (C-Corp) has a single focus, namely, profit maximization for its shareholders. On the other hand, B-Corporations are legally required to consider all stakeholders (like employees, the community, suppliers, etc.) when making business decisions. Therefore whereas a C-Corporation is legally bound to prioritize profit-maximization, B-Corporations are legally bound to consider how their decisions impact society and the environment, as well as shareholder profits. Before the enactment of B-Corporation legislation, entities that had "public purpose" goals (in addition to making a profit) were essentially acting against their duty to maximize profits. Under the new B-Corporation structure, this singular focus can be expanded into a dual focus that allows owners/mangers of the entity to make a profit, but also to offset the singular focus of profit maximization with the goal of providing a benefit to society (social good, positive environmental impact, etc.).


What states provide for B-Corporations? B-Corporations are not available in every state, yet. They are evolving much like the LLC evolved - gradually across the United States. Maryland was the first state to pass benefit corporation legislation in April 2010, followed by Hawaii, Virginia, California, Vermont, and New Jersey. In December, 2011, New York became the 7th state, and in June, 2012, Washington became the 8th. As of August 2013, 20 jurisdictions including D.C. and Delaware have passed legislation making the benefit corporation entity available. Other states like Alabama, Connecticut, Florida, Iowa, Montana, North Carolina, Texas and West Virginia have introduced benefit corporation legislation.


What is the difference between being a B-Corporation and a Non-Profit Corporation? Unlike non-profits, benefit corporations are for-profit entities and therefore do not offer the same tax advantages as a nonprofit. Both nonprofits and benefit corporations aim to make a positive impact on society and the environment. But benefit corporations conduct business activities that presume a return on investments, while non-profits seek charitable donations to fund their business practices. Nonprofits cannot become benefit corporations but a nonprofit may create a benefit corporation as a vehicle for conducting and scaling the earned-income activities of the nonprofit.


What is the difference between a B-Corporation vs. B Corps? While the terms are often used interchangeably, a benefit corporation (B-Corporation) and a "B Corp" are two distinct things. The B-Corporation is an actual legal entity recognized by the Secretary of State and formed upon the filing of required paperwork, like the Articles of Incorporation. Conversely, the B Corp is a certification, conferred upon a company that meets certain social and environmental sustainability standards. Therefore, it is possible to be a B Corp but not a legally recognized B-Corporation, thus allowing other business forms like LLCs or professional corporations to voluntarily commit themselves to the purpose, transparency and accountability requirements, inherent in B-Corporations.

In summary, a B-Corporation has the following benefits:

  • A B-Corporation provides liability protection. Separation of business and personal assets of the owners is critical. A B-Corporation provides for the separation of these assets while serving as a positive instrument for change.
  • The B-corporation creates the legal framework for firms to remain true to their social goals. In doing so, customers are likely to gravitate toward the business - especially those customers who believe in similar social or environmental goals. This is a business opportunity to engender support from customers, to differentiate the business from competitors, and to make a positive impact on society and the environment in the process.
  • There may be potential tax benefits associated with B-Corporations. B-corporations do not yet have a special tax status (they will be taxed like a C-Corp or S-Corp depending on the tax election by the owners). However, state and local jurisdictions may provide tax incentive programs for certified B Corps and B Corporations. For example, Philadelphia became the first jurisdiction to institute a tax break program when it offered B-Corp certified businesses a $4,000 tax credit.
  • As businesses become aware of the opportunity to both provide a public benefit and make a profit, B-Corporations are an attractive alternative to a corporation or a non-profit.In addition, business owners often want to focus on social responsibility. Many business owners are also leveraging the positive feedback from other business owners and customers regarding the public benefit underpinnings of their business. It's also a way to differentiate your business and make a difference - thereby potentially growing profitability.


File a B-Corporation With MyCorporation Today by Calling Us at 1(877)692-6772


How It Works

After you decide that you want to form a b-corporation, consider these things to ensure a smoother experience:

  • Pick a name! We'll check if it's available (included at no additional fee if you file with us).
  • Determine the state of your company's incorporation.
  • Pick a Registered Agent.
  • Assign corporate officers.

We Help You Know What to File


Once you've begun your company's incorporation, you'll receive a list of filing components that are mandatory in your state, and a list of optional business components you may want to consider filing at the same time to save money.

Then, Give Us Some Info and We Take Care of the Rest!

Next, give us your name, address of business, company members, desired company name (for a name search), etc. Then, you'll give us standard billing information that includes your address, credit card number, and contact information.

Want it Faster?

With our Rush Filing Service, your Articles of Incorporation and Bylaws can be filed in as little as one week. With our Rush Service, we hand deliver the documents to the appropriate state office-greatly reducing your waiting time.

Congratulations! Your Company's Incorporation is Complete

You'll receive a notification email shortly confirming your incorporation order. Keep a copy for your records. If we have any questions, we'll call you.

Once we've confirmed your order, we charge your credit card overnight from the date of application to pay the required government fees and begin the process of forming your incorporation.

Check the Status of Your Order Anytime

You can check the status of your order at anytime by calling MyCorporation toll-free 1-877-692-6772. Have your confirmation number ready so that we can quickly check your company's incorporation status.

FAQ's

What are the types of corporation to choose from?

When you decide to incorporate your business, there are four different business entities to choose from: C-Corporation, S-Corporation, Non-Profit Corporation, or Professional Corporation . Read more or compare business entities in our Comparison Chart.

What is a C-Corporation?

What sets a corporation apart from all other types of businesses is that a corporation is an independent legal and tax entity, separate from the people who own, control and manage it. Because of this separate status, the owners of a corporation don't use their personal tax returns to pay tax on corporate profits—the corporation itself pays these taxes. Owners pay personal income tax only on money they draw from the corporation in the form of salaries, bonuses, and the like.

If you would like to learn more, visit our Learning Center or Comparison Chart.

What is an S-Corporation?

An S-Corporation is a regular corporation that has elected S-Corporation tax status. Forming an S-Corporation lets you enjoy the limited liability of a corporate shareholder but pay income taxes as if you were a sole proprietor or a partner. In an S-Corporation, all business profits "pass through" to the owners, who report them on their personal tax returns. The S-Corporation itself does not pay any income tax. Therefore, an S-Corporation elects not to be taxed as a corporation. After the corporation has been formed, it may elect S-Corporation status by submitting IRS form 2553 to the Internal Revenue Service (in some cases a state filing is required as well). Read more about electing S-Corporation status.

What is a Non-Profit Corporation?

State laws distinguish between for-profit (stock) corporations and non-profit (non-stock) corporations. A non-profit corporation often involves an organization whose primary objective is to support some issue or matter of private interest or public concern for non-commercial purposes. Examples of non-profit types might relate to the arts, charities, education, politics, religion, research, sports or some other endeavor. Under the Federal Tax Code Section 501(c), a tax-exempt corporation cannot pay dividends and, upon dissolution, must distribute its remaining assets to another nonprofit group.
Read more about Non-Profit Corporations.

What is a B-Corporation?

A benefit corporation is a corporation organized under a state's general corporation law that has elected to become subject to benefit corporation statutory provisions. Most benefit corporation statutes require that the entity "shall have the purpose of creating a general public benefit," meaning it must create a "material positive impact on society." In many states this general public benefit purpose is in addition to, and may be a limitation on, any specific purpose set forth in its articles. The benefit corporation was created to provide an option for entrepreneurs who want to voluntarily adopt higher standards of corporate purpose, transparency, and accountability. The entity provides a way to legally cement a social or environmental mission into a company's corporate and legal structure.

The provisions of general corporation law apply to benefit corporations except where those provisions are in conflict with or inconsistent with the benefit corporation provisions. Therefore, like a traditional for-profit corporation, a benefit corporation is an independent legal and tax entity, separate from the people who own, control and manage it. Because of this separate status, the owners of a benefit corporation don't use their personal tax returns to pay tax on corporate profits-the corporation itself pays these taxes. Owners pay personal income tax only on money they draw from the corporation in the form of salaries, bonuses, and the like.

What is a professional corporation?

If your corporation will be engaging in what your state might call "Professional Services," the Articles of Incorporation must bear special language and the corporation must be formed pursuant to certain statutory provisions.

"Professional Services" according to most states usually consists of the following activities:

  • Medical Services
  • Legal Services and Representation
  • Accounting and Financial Services
  • Architectural Services
  • Other services may be included in this list depending on your selected state of incorporation

It is important to note that most states vary in their requirements regarding licensing of professional activities, therefore, we encourage you to seek the advice of an attorney if you fall within the "Professional Services" statute of your state.

Read more about Professional Corporations.

How do I assign a corporate officer?

Our applications allow you to name up to four officers for your corporation when you file with us. Most states allow businesses to authorize one person to serve in the three mandatory positions:

  • President
  • Treasurer
  • Secretary or Clerk

This person's responsibility and authority changes for each position.

The President The President has the overall executive responsibility for the management of the corporation and is directly responsible for carrying out the orders of the board of directors. He or she is usually elected by the board of directors.

The Treasurer The Treasurer is the chief financial officer of the corporation and is responsible for controlling and recording its finances and maintaining corporate bank accounts. Actual fiscal policy of the corporation may rest with the Board of Directors and be largely controlled by the President on a day-to-day basis.

The Secretary The Secretary is typically responsible for maintaining the corporate records. In addition to these required officer positions, a corporation may also have vice presidents and/or assistant secretaries or assistant treasurers.

What is a Registered Agent?

The purpose of a Registered Agent is to provide a physical address for your business so that it can accept official documents on behalf of your corporation (tax notices, annual reports, legal-process documents such as a summons, etc.).

The primary benefit of this service is that it provides a layer of privacy between you and the public. As the Registered Agent's name and address is one of public record, generally the Registered Agent's legal address will be the one listed in all official public documents.

Penalties for not maintaining a Registered Agent may include fines or revocation of business's corporate legal status. Please note that post office boxes are not allowed.

Learn more in "Registered Agent Services".

What else after I incorporate?

To keep your business legally viable, there are a number of steps you may need to follow after you incorporate your business. For example, you may need to file an Article of Amendment if you need to make changes to your company. You also may need to issue stock or file an Annual Report, which is a requirement in most states. Our business filing experts can help you process necessary changes to your business.

Learn more on how to maintain your corporation


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