C Corporations and S Corporations (Same Filing Process)
- Articles of Incorporation
- Corporate By-Laws
- Appoint Board of Directors
- Create shareholder agreement
- Form 2553 (S Corporation IRS Election)
Note: Name must have Inc, Company, Co, Corp., Corporation and etc.
Limited Liability Companies and Limited Liability Partnerships
- Partnership Agreement
- Operating Agreement
- LLC Membership Certificate
Note: Name must have Ltd., LLC, LLP, and etc.
All Incorporations require a registered agent for the state to correspond with in regards to the company.
- Section 83(b) tax election with the IRS.
- Section 351 capitalization rules (how to fund a new corporation without paying additional taxes)
- Issued shares or stock does not correspond to the Articles of Incorporation.
- Improper allocation of profits and losses from LLCs and LLPs.
- Fees paid to incorporate or organize are tax deductible.
- Startup costs are also deductible. (Ex: research expenses and etc.)