9 Steps to Form a Corporation
What makes up a corporation?
Many people will say: Filing your Articles of Incorporation and Obtaining your EIN (Tax ID) . Although these 2 things are essential to a corporation it is not enough for you to have a compliant and complete corporation. I will list the 9 elements you need, to form a complete corporation.
Elements
1. Understanding of Managerial Structure, such as, the roles of the Board of Directors, Shareholders, and Officers.
2. Filing your Articles of Corporation with the Secretary of State
3. Obtaining your EIN (Tax ID)
4. Statement of Information filed with the Secretary of State
5. Determine the tax election and file specific forms (S-Corp [Form 2553], C-Corp [Automatic Election])
6. Create the Bylaws of the corporation and the
7. Draft the minutes (Board Of Directors Annual Meeting Minutes, Shareholders Annual Meeting Minutes, and any other special meeting minutes)
8. Open a corporate Bank account
9. Local business license if your city requires it and seller's permit if you are selling physical products.
