how to form your own corporation without a lawyer for under $75 pdf

How do I form a corporation myself?

Do-It-Yourself Checklist to Incorporate Your BusinessFind a Name. The first step to incorporating your business is making sure your business's name is available. ... Create Your Governing Documents. ... File Your Paperwork. ... Hold a Meeting. ... Obtain an EIN. ... Continue Building Your Business.

What special paperwork is necessary to start a business corporation?

Every state requires corporations to file a formation document such as a Certificate of Formation, a Certificate of Incorporation, or the Articles of Incorporation. Some states may require additional documents, such as a state tax registration form.

How do I form a PC in Illinois?

Steps to Form an Illinois PCChoose a name for your Illinois PC.Select an Illinois registered agent.Complete your Illinois Articles of Incorporation.Establish a corporate record in Illinois.Designate an Illinois PC board of directors.Create Illinois corporate bylaws.Hold first board meeting.Handle tax obligations.More items...

What is an SC corporation?

S corporations: S corps are pass-through taxation entities. They file an informational federal return (Form 1120S), but no income tax is paid at the corporate level. The profits/losses of the business are instead “passed-through” to the business and reported on the owners' personal tax returns.

Can you have a corporation with one person?

However, all states do allow corporations to have just one owner. You can be the sole shareholder, director and officer for your company. Even without the suits, you still must follow all the formalities to ensure your corporation remains in good standing.

What document is necessary for a corporation?

Articles of Incorporation, also referred to as a certificate of formation, is the document necessary to form a corporation. Articles of Incorporation are filed with the secretary or department of state where the corporation is organized.

How much does it cost to start a corporation in Illinois?

To file your Articles of Incorporation, the Illinois Secretary of State charges a $150 filing fee plus an initial franchise tax payment assessed at a rate of $1.50 per $1,000 of paid-in capital.

Can I be my own registered agent in Illinois?

Yes, you can be your own registered agent in Illinois. However, after considering the registered agent requirements most business owners elect to hire a registered agent service instead.

How do I set up an S corporation in Illinois?

Start an S Corp in Illinois in 5 StepsChoose a name.Select a registered agent.Choose directors or managers.File Articles of Incorporation/Organization with the Illinois Secretary of State.File Form 2553 to turn business into an S Corporation.

How do I start a corporation in South Carolina?

~1-2 business days online.Choose a Corporate Structure. Incorporating means starting a corporation. ... Check Name Availability. ... Appoint a Registered Agent. ... File South Carolina Articles of Incorporation. ... File Initial Report. ... Establish Bylaws & Corporate Records. ... Appoint Initial Directors. ... Hold Organizational Meeting.More items...

What is difference between C Corp and S corp?

The biggest difference between C and S corporations is taxes. C corporations pay tax on their income, plus you pay tax on whatever income you receive as an owner or employee. An S corporation doesn't pay tax. Instead, you and the other owners report the company revenue as personal income.

How much does it cost to file articles of incorporation in SC?

$135To start a corporation in South Carolina, you must file Articles of Incorporation and an Initial Report with the Secretary of State. Together these documents cost $135, plus a $15 fee for processing of your paperwork.