Filing for Incorporation Overview: BusinessTown

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Filing for Incorporation Overview

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Filing for Incorporation Overview

Although incorporation is considered the most complex of legal business structures, it is possible for a small business owner to incorporate without legal counsel. To minimize legal fees, consider obtaining and filling out all forms for incorporation yourself. Forms and guidelines are available from your state secretary of state’s office.

However, prior to filing with the state, you should have your attorney advise you as to whether or not incorporation is the right step for your business. If so, have him or her review your incorporation documentation to ensure that you have included all required information.

A corporation is formed with the authority of a state government. Incorporation allows capital stock to be issued while the principals create an organization. Approval for incorporation must be obtained from the secretary of state’s office after filing articles of organization. The secretary of state in the filing state will issue a charter for the corporation stating the powers and limitations of the corporation. Officers of the corporation can be employees of the corporation while owning stock in the corporation. As such, they can be held liable for such items as withholding tax, unemployment tax, Workers’ Compensation, and Social Security.

* Source Streetwise Small Business Start-Up

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