General Corporation “C Corporation aka C-Corp” is formed when a company is planning to go public or has a large group of investors. A general corporation has three tiers of powers, the shareholders, the directors and the officers. Creating a C-Corporation is a little more complicated than forming a Limited Liability Company (LLC) but don’t worry, ClienTax will guide you throughout the process! Some unique steps in creating a Corporation include:
The General Corporation
The biggest benefit for a business owner who decides to incorporate is the liability protection they will receive. A Corporation’s debt is not considered that of its owners, so if you organize your business as a corporation, you are not putting your personal assets at risk. A corporation can also retain some of its profits without the owner paying tax on them.
The difference between LLC and a Corporation
Why Choose ClienTax
To Help You Incorporate Your Corporation?
Business Protection & Guidance
ClienTax offers complimentary, one on one consultation with one of our experts to help you determine the best business structure from launch
Experienced
You deal directly with highly knowledgeable CPAs
Affordable
We charge only $75 per entity in addition to any government fees needed to incorporate a C-Corp
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We help you take care of all the paperwork and can generally have the entity created in 2-3 Business Days
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If you are not completely satisfied, we will refund any non-government processing fees
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FAQ - Frequently Asked Questions
What legal documents do I need to form a C Corporation?
To create a C Corporation, Articles of Incorporation (also referred to as a Certificate of Incorporation) must be filed with the Secretary of State or appropriate state agency. You will also need to apply for a tax identification number with the IRS. Clientax Inc. will assist you with everything needed to start your C Corporation. This will allow you to focus on developing and growing your new company.
How is stock distribution handled by a C Corporation?
C Corporations sell ownership shares to the general public in order to raise capital through the distribution of stock. To sell ownership shares, the company must list in their Articles of Organization the number of shares, with their par value, that will be initially distributed. Once the number of shares has been acknowledged by the state, the company will be able to distribute the shares.
Do all C Corporations need a registered agent?
Yes. All formal business entities, including C Corps, are required to have a registered agent on file with the state. The agent can be an individual or company with a physical address located in the state of incorporation. The agent must be available during standard business hours: 9 a.m. - 5 p.m. Monday – Friday. The role of a registered agent is to collect any information from the government to the business. The agent’s name and address must be disclosed as part of the company’s public record.
