How do I form a corporation?

A corporation is formed by submitting Articles of Incorporation to the state agency in charge of corporations, usually the Secretary of State. The agency will review the Articles for statutory compliance. Once the articles are approved for filing, the corporation is formed, or incorporated.

How do I form a nonprofit corporation?

A nonprofit corporation is formed the same way a for-profit or business corporation is formed, but the statutory requirements for the articles of incorporation are a little different. A nonprofit corporation is formed or created by submitting Articles of Incorporation to the state's regulatory agency. Once the articles are approved for filing, the corporation is incorporated (formed or created). “Nonprofit” does not mean “tax-exempt”. In order to obtain tax-exempt status with the IRS, the Articles of Incorporation must include a specific language. To obtain tax exempt status under Section 501c3 of the Internal Revenue Code you must file an application to the IRS after the Articles are filed..

How do I form a Limited Liability Company (LLC)?

A limited liability company is formed by filing Articles of Organization with the corresponding state agency. The agency will review the Articles for statutory compliance. Once filed, the LLC is formed.

Is there anything else required to initiate my LLC or corporation?

Besides filing the Articles to start your business entity, a few states have other additional requirements, such as publication of a notice of filing the corporation or LLC.

The following states have some type of publication requirement:

Arizona, for both corporations and LLCs. Georgia, for corporations. Nebraska, for both corporations and LLCs. New York, for LLCs. Pennsylavania, for corporations. Due to the local nature of publications, we do not provide this service. However, we will provide advice as to how to proceed to publish.

What are the steps involved in preparing the Articles to form a corporation or a limited liability company(LLC)?

We will lead you through the following steps to provide the information for the Articles. First, you must select a name that is not in use or is similar to one in use by another business entity. Then you must determine an address for the business. This address can be either a residential or business address. If a corporation, you may name the initial directors (otherwise selected by the owner(s) (stockholders)) and the officers (President, Secretary, Treasurer, otherwise selected by the directors). If you are forming an LLC, you determine whether the company will be managed by a manager or managers or by its member(s) (owners) and you may may name the manager(s) of the company. You must name a Registered Agent, which could be you. Name the purpose or purposes of the business, and you are essentially done. With this information iwe will prepare the Articles, and file them with the state. Once the Articles are received back from the state, an EIN/TIN form may be prepared, and a corporate kit, if desired (highly recommended) is also prepared. Upon completion, your business documents are sent to you.

What is the difference between an S corp and a C corp?

S corp and C corp are IRS code references. Those designations pertain only to tax status, and are not actually types of corporations. When initially filed with the state agency, all business corporations are C corporations. By filing form 2553 with the IRS (Election by a Small Business Corporation) a C corporation becomes an S (Small) corporation. If you want to have an S corporation, we can prepare the pertinent portions of Form 2553 and will forward to you for signature of all stockholders of the corporation. Only US citizens and residents are allowed to be stockholders (owners) of an S corporation and the number of stockholders is limited in an S corporation. Anyone can be a stockholder of a C corporation. C corporations can be very large.

How long does it take to form a corporation?

It depends on the state, while the average is close to three to four weeks, some states can take as much as eight weeks in processing. the Articles. This does not include mailing time. By using expedited processing in the states that have it available for a reasonable fee, the processing time may be substantially reduced.

In what state should I file my corporation or limited liability company?

Normally, you will file your corporation or limited liability company in the state where you are engaged in business and you have your main office.

What is a Registered Agent?

A Registered Agent is a person or entity charged with the responsibility of receiving legal documents on behalf of the corporation or limited liability company. Almost all states require a Registered Agent at the time of filing the Articles and during the life of the business. The registered agent must provide a physical address for a registered office in the state where the Articles are filed.

Can I be the Registered Agent for my corporation or limited liability company?

Yes, you can, if you are generally available to receive legal documents during business hours at the registered office. By being your own Registered Agent you can save substantial amounts of money over the years. Don't be fooled by companies that offer initial "free" initial registered agent service and do not give you, as an individual, the clear opportunity of being your own registered agent. This may end up costing you hundreds, if not thousands of dollars over the life of your business. On the other hand , if you actually need a Registered Agent we will provide a top national corporate Registered Agent for $99.00 per year.

What do I need to do to be the Registered Agent of my corporation or LLC?

You will have the opportunity of selecting yourself as Registered Agent when you fill out the information for the Articles. By selecting yourself as registered agent, you authorize us, as your representative, to accept and sign on your behalf at the time of filing the Articles, the responsibility of being registered agent for your business.

What is an EIN (Employer Identification Number) and do I need one?

The EIN or Employer Identication Number (also known as a Tax Identification Number or TIN) is a number assigned by the IRS to business entities and serves as identification for the entities, just like the social security number serves as identification for individuals. Sooner, rather than later, your business will need one. Most banks will require an EIN/TIN before you can open a bank account for your business. All federal tax returns and many state tax returns will also require a EIN/TIN.

How do I get an EIN/TIN?

We can prepare the application form and send it along with your business documents for you to file with the IRS upon receipt. Or, if you so desire, we can apply directly to the IRS and send the number to you with your business documents.

What is a corporate kit?

The corporate kit is a highly recommended part of the formation of a corporation or an LLC. It consists of a corporate seal and a binder that contains blank shares of stock if a business corporation or blank certificates of membership in the case of limited liability companies. The binder will also contain forms for bylaws if a corporation or for an operating agreement if an LLC, as well as a number of blank minutes and resolutions ready for later use.

What is the forms CD?

The forms CD is an optional offering we make which contains a number of useful forms and documents in Word format. It contains different types of real estate deeds, leases, sample mortgages, promissory notes, powers of attorney, employment application and agreements, corporate minutes, resolutions and more.

What is required for the upkeep of my LLC or corporation?

Once you form your corporation or LLC, in most states you will be required to file an annual report and pay a tax or a fee to the Division of Corporations of the state where your entity is established. If you fail to file the annual report and pay the fee, your corporation or LLC may be subject to a penalty and may be administratively dissolved as a result. If you have a commercial Registered Agent, you will also have to pay the Registered Agent a yearly fee for its services. While annual reports are normally necessary, a commercial Registered Agent is not needed in most cases, and you can save substantial amounts of money over the years by being yourself the Registered Agent, whenever possible.

What is your cancellation policy?

Your order may be refunded until payment is sent to the state agency, which normally will occur within 24 hours after the order is received. Once payment has been forwarded to the state we cannot accept changes or cancellations to your order. If you want to cancel or change an order, you must send an email to support@usawidecorp.com. No changes or cancellations can be accepted over the phone.