Incorporate Your Business Online

Although a corporation can be set up without a lawyer, new business owners should seek the advice of a lawyer to determine all the best options when setting up a corporation. Many states have tax laws that can negatively impact an owner's financial implications if not followed.

A lawyer can ensure that you are following state and federal laws based on your business needs. A corporation formed with correct legal advice can minimize your liability. If hiring a lawyer is too costly, seek a professional online incorporation service.

Corporations follow a strict structure to maintain; and setup involves detailed steps. Although requirements vary by State, the general documents to file a corporation online are listed below:

• File the Name of your Corporation with the Secretary of State for the state that you are filing the corporation.
• Article of Incorporation or Certificate of Formation with details about your corporation.
• Company Bylaws that outline the governance and structure of your corporation
• Shareholders’ Agreements 
• Meeting minutes
• Stock certificates for stock-issuing corporations
• Submit initial and eventually annual reports to ensure your corporation maintains all the requirements

The most important details to consider when setting up a corporation are the management structure, tax liability, protection, and long-term goals.

C Corporations are the most common structure for setting up a for-profit corporation, with limited personal liability for business debts.

S Corporations have stricter guidelines and can be under more scrutiny by the IRS.

Nonprofit Corporations are set up for charitable, educational, scientific, or literary businesses or companies, with a tax exemption status with the IRS and are tax deductible.

Benefit Corporations focus on social and environmental impacts while making a profit. A for-profit organization must legally consider shareholders and the environmental impact when making a business decision for profit.

Yes, you can set up your corporation online in any state. Requirements may be different for each state, but the process can be done online for most. Check with the Secretary of State’s website for the requirements and process.

Most companies choose to incorporate in the state where the company is located. Although you can set up a corporation in any state, there are important factors to consider before you commit. It's important to consult with a professional or seek legal advice for each state’s tax laws and any other requirements for that state. MyCorporation works with 50 states to make sure you are filing promptly and correctly.

The structure of your corporation can change as your business needs change. Your C corporation can change into an S-Corporation if your business meets the criteria and it makes sense for your business structure to decrease tax liability.

It is recommended to seek legal consultation to ensure that all documentation is filed correctly and that it is the right business move for your company. In some cases, you may be required to dissolve one entity and file a new one. Changing your corporation's structure can have significant legal, tax, and operational implications which must be resubmitted to proper channels. It’s important to get the correct legal advice before starting the process.