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Form a Corporation
Create investment opportunities and protect your individual assets.
When you form a corporation, you realize two significant benefits. One is that your business will now be set up in a structure that will entice investors much more so than was the case before. The other is that you are no longer individually responsible for its finances and liabilities.
Start Your BusinessWhy start a corporation?
Entice investors
Many investors prefer to work with corporations as opposed to businesses that have not been incorporated.
Attract employees
Top-notch prospective employees will be more interested in coming aboard if company shares are offered.
Create an official look
Appearing more credible creates benefits, including other companies being more likely to work with you.
How to Get Started
Professional incorporation process
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Create Your Account
Register online securely. Track your incorporation progress in real-time.
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Complete the Questionnaire
Our step-by-step wizard guides you through business structure, shareholders, and corporate details.
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Attorney Review & Filing
Our attorney prepares all documents, files with the state, and handles IRS elections if needed.
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Start Operating
Receive your complete corporate kit and begin business operations with full legal protection.
What are the benefits of forming a corporation?
Limited Liability
Essentially, a corporation is a separate entity from those who own it, whether directly or as shareholders. They are generally not liable for any litigation, obligations or debts related to the incorporated company. That said, this depends on if the corporation alone is the defendant in any litigation while there are some other exceptions as well. So, you may still want to take out insurance.
IRS Impact
When you create a corporation, you get to realize many benefits related to taxes. This is primarily because there are numerous deductions, such as employee salaries, that a corporation can take advantage of that your company could not prior to taking that step. That said, which benefits you can take advantage of do depend on the amounts and types of your profits and other factors.
Improved Reputation
Simply including "Inc." after your business name will raise your profile in the minds of those you work with and prospective investors and employees who you are looking to entice to work with you.
Anonymity
In many situations, incorporation can be established in a manner that allows all of the company's owners and shareholders to be anonymous, but this depends on which state you incorporate in.
Raising Capital is Easier
Generally, it is easier to entice lenders to provide capital to a corporation as opposed to another type of business as there is usually much less risk involved in doing so in the former case.
Easily Transfer Ownership
The amount and complexity of legal documentation necessary to transfer ownership is reduced following a company's incorporation. This helps ensure that the day-to-day operations continue to run smoothly.
What's Included
We ensure that forming a corporation will be an easy process for you. Here are some of the essential features that you'll receive when you do so with the assistance of Citadel Law.
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Check if your proposed business name has already been used in your state
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Registered agent service, ensuring that all legal and other documents reach you
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Bank accounts and credit card in your company's name
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Digital delivery and storage of start-up documents
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Consultation informing you about eligible deductions and other tax benefits
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Creation and filing of incorporation documents
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Optional S election filing
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Expert support on hand to answer any questions that you may have
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Analysis of your credit and funding situations to help you build your business
What is a corporation?
A corporation is a business that has been created through incorporation. This occurs when the relevant documents have been filed with the state in which the company is being incorporated.
It is a legal entity that stands alone in that its owners are not responsible for the company's debts or liabilities. Other benefits include the ability to have investors and shareholders.
Benefits of corporation
Although the benefits of forming a corporation are numerous, two stand out. The first is that, in most cases, owners and shareholders are not responsible for things like lawsuits and debts, which the company as a whole would be. The other is that a corporation can have shareholders as well as be able to receive funds from outside investors.
Requirements of corporation
Several requirements must be met in order to receive the benefits of being incorporated. These include the filing of annual reports, annual shareholder meetings, the adoption of bylaws and issuing corporate resolutions whenever noteworthy decisions have been made. We offer packages that provide the documents and services necessary to ensure that those things go smoothly.
What's the difference between a C corporation and an S corporation?
S corporation
Taxation
Pass-through taxation
No. of Owners
<100 shareholders
Type of Owners
Only individuals
Type of Stocks
One class of stock
Tax Breaks for Benefits
No
C corporation
Taxation
Double taxation
No. of Owners
Any
Type of Owners
Businesses & individuals
Type of Stocks
Multiple classes
Tax Breaks for Benefits
Yes
Frequently asked questions
The most significant difference between a corporation and an LLC is that the former can have shareholders and has more regulated reporting and record-keeping requirements. The ease of running an LLC is a benefit of it, but note that investors usually prefer sending their money to corporations.
The cost of incorporation depends on your state and other factors. These expenses generally include the cost to file the articles of incorporation, required governmental filings and a franchise tax prepayment. The total cost is usually around $2,000. Attorney fees may be necessary as well.
You need to have a business address that is not a post office box. If you want that address and accompanying name to not be connected with you or anyone else directly involved with the company, a registered agent can be used. This is where official documents may be sent.
The necessary documents for incorporation vary, but they generally include a business name reservation form, board resolutions, an annual report and corporate bylaws. We will make sure that all of the necessary documents in your situation are filed.
Some of the tax deductible fringe benefits that may be utilized when incorporating include employee discounts, childcare reimbursement, health insurance, athletic facilities and subsidized meal programs. We will help you take advantage of all of the deductible fringe benefits that you are eligible for.
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