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Incorporation Center |
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Protect Your Personal Assets Today?
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Why Should I Incorporate |
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by Trina Newby
The
main reason most business owners form a legal business entity is to safeguard
their personal assets. By incorporating, or forming a Limited Liability Company
(LLC), you're free to conduct your business...
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What You Need To Know About Incorporating Your Business |
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Most US-based small businesses are getting eaten alive in taxes! That statement has proven itself true over and over again. However, while small business owners want to save money, many are literally afraid of incorporating their companies. The paperwork, the additional reports, having a set payroll amount each month, and other visions swirl around their heads. Those visions could be costing you a ton...
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The Role of Registered Agents with your Corporation |
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If you form a corporation in a state where you and your office are not located, you must have a registered agent. Registered agents perform a number of functions including providing an office and address in the location that you are registering the corporation, and for the files of the State there. This has to be done carefully, because information about the registered agent is public information. The Registered Agent acts as your legal agent in the state...
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C-Coporation |
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C-Corporation
A C-Corporation
(or simply a Corporation) is considered by law to be a unique entity separate
from those that own it. As an individual entity, a corporation can be taxed,
sued, and can enter into contractual agreements. Corporations are owned by
shareholders of the corporation, which elect a board of directors to oversee the
major business decisions and policies. When ownership changes in a corporation,
the corporation does not dissolve.
What are the main advantages of forming a
C Corporation?
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Corporations
are said to have less risk from government audits as a corporation (as opposed
to sole proprietor or LLC).
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Owners of
Corporations have limited personal liability for business debts.
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Corporations
can deduct the cost of benefits as a business expense.
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Corporations
can split corporate profit among owners and the corporation, paying a lower
overall tax rate.
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With a
Corporation, there is no limit on the number of stockholders.
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Corporations
can raise additional funds through the sale of stock.
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You do not
need to be a US Citizen to own or invest in a C Corporation.
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You can elect
S Corporation status if certain requirements are met, enabling the company to be
taxed similarly to a
partnership.
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