How to Start a New company

Asset - How to Start a New company

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Initial steps to setting up a new firm (S-Corp, Llc) may include:

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1. Preserve the name of the firm or Llc with the Secretary of State office of the state where you wish to integrate and pay the reservation fee to Preserve your name.

2. Prepare and file an Articles of Incorporation for a corporation or an Articles of organization for an Llc and pay the fee to file such articles.

3. Prepare the By Laws for a corporation or an Operating deal for an Llc setting forth the terms and conditions of doing of the entity under the rules of the applicable state.

4. File for a federal (employer identification whole (Ein)), state tax identification numbers, and any applicable license(s) based on the products or services being offered by the corporation or Llc.

5. Prepare resolutions adopting the Articles of Incorporation/Articles of Organization, By Laws/ Operating Agreement, resolutions confirming the nomination of board members, officers, and/or members, as well as appoint personnel to get bank accounts, accountants, lawyers, licensing duties, and any other service or requirement indispensable for establishing your singular legal entity.

6. Prepare shareholder and/or buy-sell agreements all shareholders of the corporation or members of the Llc.

7. Utter all records for the corporation or Llc and file all applicable documents with tax, licensing and other federal, state, county, city and municipal regulatory bodies.

8. Ageement in writing with all employees, independent contractors, and/or entities performing tasks or services for the corporation or Llc being mindful of possession of intellectual property.

9. Utter compliancy with all employment, environmental, export, safety, tax, licensing, and all other laws and regulations governing the activities of the corporation or Llc.

10. Pursue protecting and owning all inventions, ideas, marks, logos, and works created, conceived and/or reduced to convention by anyone complex with the corporation or Llc.

This list of steps is not inclusive of all the legal requirements indispensable to form and Utter an entity but rather represents a first check list. Note many service providers offer incorporation services for a few hundred dollars, but in reality they are only contribution the first two or three items listed above. The first purpose of setting up an entity is to provide you with dinky liability, protecting your personal assets such as your home, car and 401k plan from the risks of starting a new venture.

Seek the advice of an attorney licensed in the state where you wish to integrate and make sure such attorney meets with you and outlines a written summary for your definite entity.

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