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But for the most part, a company must: File articles of incorporation with the state. Pay a filing fee. Issue stock certificates to the initial shareholders. Elect a board of directors. Institute bylaws.
Introduction: Starting a business is an exciting endeavor, but the process of incorporating a company can be complex and daunting. ... Stage 1: Planning and Preparation. ... Stage 2: Name and Legal Structure. ... Stage 3: Filing and Documentation. ... Stage 4: Compliance and Legal Formalities. ... Frequently Asked Questions (FAQs)
Section 33-920. - Authority to transact business required. (a) A foreign corporation, other than an insurance, surety or indemnity company, may not transact business in this state until it obtains a certificate of authority from the Secretary of the State.
Legal Requirements Each state has laws regarding incorporation. Most states require the owners to file articles of incorporation with the state and then issue stock to the company's shareholders. 1 The shareholders elect the board of directors in an annual meeting.
While every state handles the process a bit differently, there are six basic steps you should keep in mind. Step 1: Choose a business name. ... Step 2: Pick a location. ... Step 3: Decide on a corporate entity. ... Step 4: Obtain a tax ID number. ... Step 5: Manage the money. ... Step 6: State finalization and securing permits and licenses.
7 Steps to Forming a Corporation Choose a business name. A new corporation cannot legally have the same name as any other corporation. ... File articles of incorporation. ... Write up corporate bylaws. ... Appoint a board of directors. ... Issue stock if you wish. ... Prepare for taxation and regulation. ... Do business.