Topic 3: Start Menu - Incorporating

Ok, do you have your business plan ready?  
Well then, lets talk about incorporating.  
 
TODAY’S TOPIC:  
  Incorporate

Get your own Corporation here:   
www.tinyurl.com/sbo-incorp

There are many reasons to incorporate. 

• Lawsuit and liability asset protection
• Taxes and tax breaks
• Management structure
• Operational requirements

There are several different ways that you can create your business structure.  

• Sole Proprietor:  Sole control of company, unlimited liability, personal taxes
• General Partnership:  Equal management, unlimited liability, personal taxes
• Limited Liability Company (LLC):  Member management, liability protection, personal taxes unless structured differently.
• Corporation (CO):  Director management, shareholders, liability protection, corporate taxes.
• Limited Partnership (LP):  Director management, at least one partner has liability, Corporate taxes.  
• Limited Liability Partnership (LLP): Partners manage, liability protection, Corporate taxes.

You can get more detailed information here:  www.tinyurl.com/sbo-incorp

Here is what I did.  I want to keep my costs down. 

1)  Study incorporation notes at Incorp.
2) Went directly to the Secretary of State website 
      * I use Nevada:  
         http://nvsos.gov/index.aspx?page=152
      *  I incorporated at the government website.
      *  I ordered a "Corporation in good standing" certificate at the government website.
3) I Went back to Incorp.
4) I Ordered a Registered Agent
      * You NEED a registered agent to accept legal documents for you.  You can be your own registered agent, but then you would have to be at your office during all business hours in case you are served.  Why get tied down?

That's it for today!  
Again, go incorporate yourself at:   
http://www.tinyurl.com/sbo-incorp

Here’s to your success – 
Because your success is my success!
Trina R Sellers