How to set up your own corporation
Ever dream of starting your own business? Starting your new corporation is not complicated. Basically you have to choose your company name, decide who will be director, and who will be the officers (president, treasurer and secretary).
Apart from that, you also have to decide how many shares you want to issue. All what it means is that company is authorized to issue certain number of shares, but it is not very important unless you are planning to go public and need millions of shares.
Some states base their fee on number of shares issued. For example you can have 75 million of shares in Nevada and still pay the lowest filing fee of $75. In Delaware you would pay tens of thousands in legal fees. Some States allow only one person to hold all functions. For example Nevada is like that. You can be director, president, treasurer and secretary.
Apart from that, you also have to decide how many shares you want to issue. All what it means is that company is authorized to issue certain number of shares, but it is not very important unless you are planning to go public and need millions of shares.
Some states base their fee on number of shares issued. For example you can have 75 million of shares in Nevada and still pay the lowest filing fee of $75. In Delaware you would pay tens of thousands in legal fees. Some States allow only one person to hold all functions. For example Nevada is like that. You can be director, president, treasurer and secretary.
Many people ask what is the difference between LLC and S Corp? See the difference between INC and LLC.
Eastbiz.com, Inc. (IncParadise.com) provides business planning with company formation and maintenance services. They offer incorporation in all 50 States. If you want to see difference in fees check this page: Fees.

1 Comments:
At 2:04 PM,
vanburen said…
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