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LEARN ABOUT INCORPORATING

What is a Corporation?

The corporation is a separate and distinct legal entity from the owners of the business.  A corporation can own property, enter into contracts, and conduct business under its own name.

What are the advantages of a corporation?

A corporation is a separate legal entity with its own identity separate and apart from its shareholders (owners).  As a separate legal, a corporation is responsible for its own debts.  Normally, shareholders, directors, and officers are not responsible for corporate liabilities.  If the corporation suffers losses, the corporation itself must bear those losses to the extent of its own resources, and not the personal assets of the individual shareholders.  Thus, the corporation protects the owner of a business against personal liability.

Do I need an attorney to incorporate?

While you may consult with an attorney to form your corporation, it is not necessary.  We will do all the work necessary to form your new corporation.  Simply complete our online order form, or call us at 866-419-3812 and speak to a representative to save time and money.

Naming the Corporation

The owner can chose any name for your corporation that you prefer, however, the name must not be the name of an existing corporation, i.e., the name must be distinguishable.  As part of our service, we will perform the preliminary name check for you.  Additionally, "Inc", "Co", "Incorporation", "Corporation", "Company", "Limited", or "LTD" must follow the corporate name.

What are the advantages of a "S" Corporation?

An "S" corporation is the election of a special tax designation which must be applied for and granted by the IRS to corporations that have already been formed.  This election, in general allows for the income of the "S" corporation to be taxed to the shareholder of the corporation as opposed to the corporation per se.  The primary advantage of an "S" corporation is the avoidance of double taxation.  That is, the avoidance of payment of income tax on corporate net income, and then the payment of further tax on the dividend income that is derived from the corporation.  Thus, an "S" corporation allows certain income, deductions, and losses to be passed through the "S" corporation to the individual tax return of each shareholder.

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