For many new entrepreneurship enthusiasts, starting the business is easy, but not when they have to incorporate their business. In a corporate set up a businessman has to maintain many additional records and administrative details, and in some cases, he also has to face the additional tax burden. This is not what a business owner wants, especially when he is in the earlier stage of operation. But if you incorporate you can get many benefits.
If you ask any businessman about his experience of running it, he would say it is like knocking the unending doors of the legal processes. But now you can incorporate business online, it is a quick and hassle-free process.
However, here are the few imperative steps that you should take to incorporate your business.
Check the availability of your business name
You have to register your business name. But first, you need to check its availability. You have to make sure that the name that you have chosen is not being used by anyone else in the State. You can do the name search by going through the States website. The name that you choose should reflect your business motive and is impact.
File your Articles of Incorporation
Articles of incorporation are known by different names like Certificate of Incorporation, Articles of Organization or Certificate of Organization. It is a very important document that helps to get your business operations run smoothly. To file for the Incorporation, you need to fill your business details, the names of your board of directors and the contact information. You should file this document with the Secretary of State Office or similar state agency.
Submit all the documents
It depends on how quickly you would like to incorporate your business. If you do not mind waiting for three months, you can file your paperwork with your Secretary of State office yourself through the mail or by completing their online process. If you want to get all the documents quickly to start your corporation in the current fiscal year, you can opt to incorporate your business online through the document filing company. The company would complete all your paperwork as quickly as possible.
Get Your EIN
As a corporation, you would also require an Employer Identification number. It is a social security number for your corporation, which you can use to file tax returns, apply for business licenses and open a business bank account. It is best that you apply for EIN as soon as you start planning your business. This will ensure that there is no delay in getting the licenses or finances that you need to get.
Yet another document that you would need is your bylaws. While Articles of Incorporation gives basic information on your business, this document would help you to run your daily business operations. This includes the information on your daily business operational activities like the election process of the Board of Directors, date, and venue of meetings, duties of officers or Board of members.
Apply for the Business Permits and Licenses
If you are planning to start your business from scratch, you would also need to check with the local authorities to make sure that you have all the business licenses or permits, which includes your sales tax certificate.
You can file for incorporation yourself, or you could also hire a lawyer. The cost of the lawyer could be somewhere between 500 to 1000 dollar. The biggest drawback of going through this route is that it might take a long time. You could also miss some small but crucial details. So now many entrepreneurs chose to incorporate the business online by opting the services of document filing company, Fastincnow. The company has experts who can help prepare all your documents and file the necessary paperwork. The online process is quick, hassle-free, and secure and is within your budget. So incorporate your business online and save your time and money.