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Why incorporate?

Youíve followed your dream and built a thriving business. Is it time to consider forming it into a corporation?

Business entities

Sole proprietorship

Standard partnership

Limited partnership

Corporation

(which one is best for you?)
Ultimate guide to incorporating in any state : everything you need to know
Entrepreneur Press and Michael Spadaccini.
[Irvine, Calif.] : Entrepreneur Press, c2011.
Rev. ed. of: Incorporate your business. 2007
     
How to incorporate : a handbook for entrepreneurs and professionals
Michael R. Diamond.
Hoboken, N.J. : J. Wiley, c2007.
  1. Includes index.
  2. Includes bibliographical references and index.
     
Streetwise incorporating your business : from legal issues to tax concerns, all you need to establish and protect your business
Michele Cagan.
Avon, MA : Adams Media, c2007.
Incorporating your business can provide numerous legal and financial advantages-it also has long-term ramifications on how you manage and structure your organization. Streetwise[Registered] Incorporating Your Business not only educates you about the benefits of incorporating your business, it also helps you determine which corporate form and structure will be the most advantageous for your personal circumstances.
     
Simplified incorporation kit
by Daniel Sitarz.
Carbondale, Ill. : Nova Pub., c2007.
A complete, low-cost boxed kit for easily incorporating a small business in any state. Includes all of the forms, instructions, and information to make setting up a corporation as easy as possible. Includes a CD-Rom with all the official state forms, additional forms, and questionnaires in both text and PDF formats. Also includes Adobe Acrobat Reader software. Also includes Appendix of state incorporation laws for all 50 states and Washington DC.
     
Entrepreneur magazine's Ultimate guide to incorporating in any state
Michael Spadaccini.
[U.S.] : Entrepreneur Press, c2004.
Millions of companies have incorporated, benefitting from this highly effective method for protecting owners' assets and avoiding liabilities. Every year, tens of thousands of corporations are formed. However, the risks are substantial for those who don't do it right and neglect to regularly address corporate maintenance as protection from liability. Don't make this mistake. Authoritative advice from Michael Spadaccini, an experienced business and securities lawyer specializing in corporate law, sets this book apart as a must-have resource. He offers practical tips and proven advice on the do's and don'ts (as well as the forms and tools) of corporate operations and maintenance. He also addresses the advantages and disadvantages of incorporating in Delaware or Nevada, based on corporate laws and tax structure. This invaluable handbook is an ideal resource for those seeking to create a small corporation as well as for owners of existing corporations who need effective methods of keeping up-to-date records. Book jacket.
     
Incorporate now!
by Daniel Sitarz.
Carbondale, Ill. : Nova Pub. ; Lanham, MD : Distributed by National Book Network, c2004.
  1. Rev. ed. of: Incorporate your business / by Daniel Sitarz. 3rd ed. c2001.
  2. Includes index.
     

The need for future financing, tax considerations, potential for liability, along with amount of owner control desired, are factors to be weighed before making this decision.

A corporation is a legal entity that is separate from the individuals who created it and carry on its operations. That means corporation shareholders are not legally liable for the actions of the corporation.

Other advantages to incorporating are:

  1. Unlimited life
  2. Ownership interest can easily be sold or transferred
  3. Capital can be raised through sale of securities
  4. Responsibility can be shared

Filing an Articles of Incorporation document with the Secretary of Stateís office is the first step to incorporating in Missouri. In this document you will document the name and purpose of your proposed corporation, names and addresses of incorporators, and the number and type of stock to be issued. Helpful information is provided by the Secretary of State for those considering this move.

The Articles of Incorporation document is just the beginning. With a corporation, record-keeping requirements include periodic filings and fees. By-laws will need to be drawn up, annual meetings held, and an organizational structure with three levels of management; shareholders, directors, and officers arranged.

Incorporation requires careful planning, understanding the long-term goals of your business, and attention to detail. But many business owners see it as the best way to help their businesses grow, while protecting their personal assets.

Article by: St. Louis Public Library staff