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Welcome to your Corporate Kit Setup Guide
Below you will find all the resources you need to properly set up your Corporate Documents to maximize your Asset Protection.
Here are some links that you will need
Having Trouble Putting Together Your Embosser?
Don’t worry, it can be a little tricky. Watch the video below to learn how to assemble it.
Frequently Asked Questions
What is a C-Corporation
All corporations formed at the Secretary of State start out as C-Corporations
Liability Protection- The officers and directors are not liable for the companies action unless there is fraud involved.
Tax: Corporations have their own level of tax.
What is an S-Corporation?
S-Corporations are designated when you file a form 2553 with the IRS.
Liability Protection– S-Corporations provide the same level of liability protection as a Corporation
Tax: S-Corporations are taxed as a pass through entity
Limitations: S-Corporations can only have 100 shareholders who must be United States Citizens.
What are Bylaws?
Bylaws are the internal rules of the corporation.
- Indicates how meetings are held.
- Indicates how corporate stock is handled.
- Indicates Director and Officer duties and responsibilities.
What are Minutes?
Legal records that document actions and approve business decisions made by the principals throughout the year. Minute records serve as an essential tool in establishing legal separation between owners and their companies, thus protecting them from liability. All 50 states require, by law, that shareholders prepare and maintain minutes.
How many shares should I issue and do I have to issue all of the shares?
Your articles will reflect how many shares you are authorized.
You do not need to issue all the shares. If you are the single owner you can issue yourself one share and that would still give you 100% ownership rights.
Can I be all of the officers for the company?
The common officer positions are; president, secretary and treasurer.
The same person can hold all positions.
What is the annual meeting for? and why do I need to have one?
At the annual meeting, shareholders will discuss and act on agenda items. Report on the financials and elect directors.
Annual meeting are reflected in the minutes. All corporations are required to produce annual minutes which show separation between the owners and the business.
State Specific Filing Info
|Alaska||Bi-Annual||Bi-Annual||State||If you initially filed/registered in an even numbered year the Biennial Report will be due in January of every even numbered year. If you initially filed in an odd numbered year the Biennial Report will be due in January of every odd numbered year.|
|Arkansas||Annual||Annual||State||Domestic corps must also File DBA in county. All Taxes must be filed and paid before May 1st|
|Delaware||Annual||Tax Only||County||Corp due by March1st – LLC $250.00 tax fee due June 1st|
|Florida||Annual||Annual||State||All lists must be filed before May 1st.|
|Indiana||Bi-Annual||Bi-Annual||Both||Non-Profit file annually|
|Iowa||Bi-Annual||Bi-Annual||Both||LLC=Odd Corp=Even all during Jan 1, April 1. Sole Prop & Gen Partnership file with county only|
|Maryland||Annual||Annual||State||Due before April 15th|
|Montana||Annual||Annual||State||All due between Jan 1- April 15|
|New Mexico||N/A||Bi-Annual||N/A||due by the 15th day of the 3rd month of fiscal year end|
|New York||N/A||N/A||State||Sole Prop & Gen Partnerships file DBA with County|
|North Carolina||Annual||Annual||County||LLC’s due by April 15th|
|North Dakota||Annual||Annual||State||Before August 1st of each year|
|Rhode Island||Annual||Annual||State||(CORP 1/1 – 3/1) (LLC 9/1 – 11/1) (non-profit – 6/1-6/30)|
|South Carolina||N/A||Annual||N/A||annual filings are filed with Dept of Revenue not SOS|
|Tennessee||Annual||Annual||State||annual filings are due the 1st day of the 4th month following the company’s fiscal year. Sole Prop & Gen Partnerships do not file DBA|
|Vermont||Annual||Annual||State||due the first day of the month following incorporation|
|Virgin Islands||Annual||Annual||Due by 6/30|