1: Choose a Corporate Name & Address: Have a corporate name search performed to ensure you are unique and have no trademark problems in the future.
2: Select A State to Incorporate: Setting up a corporation will be easier and cheaper in your home state than out of state.
3: Select A Corporation Type: Determine the best type of corporation for your business–LLC, S corporation or C corporation.
4: Determine Company Directors: Directors of the company and positions will have to be filed within the Articles of Incorporation and By-laws.
5: Choose Your Share Type:Corporations can issue common and preferred stock.
Select the best for your situation.
6: Obtain Certificate of Incorporation: Available from local State office or business retailer.
7: Process & File Incorporation: Your incorporation can be completed by a lawyer or a do-it-yourself kit. Finally, file your incorporation with a Registered Agent.
The decision to incorporate or not is an important one. Work with your advisors to determine if the time is right for you. Don’t wait until it’s too late as Bill learned.