Corporation
Papa has considered to incorporate our small business a few years back. We are suprised why it did not pushed through as it has a lot of benefits. One of them is protection of personal properties in case the business suffers a downfall since a corporation exists as a separate entity from the owner. I guess he knows all the benefits but just too lazy to process all the requirements of incorporation. He often reasons out that nothing bad could possibly happen. But who knows for sure?
According to about.com, in the US, there are 7 steps to follow to start a Corporation:
- Choose a Name and address
- Select a state where to incorporate
- Choose a corporation type
- Determine company directors
- Choose share type
- Obtain Certificate of Incorporation
- Process and File Incorporation
Pretty long and tedious process for me, so there are companies that help in this regard. They offer online filing service to start corporation in all 50 states. Their website has a dedicated section for frequently asked questions. You’ll see the differences of every corporation types (LLC, Corporation, S-Corp). So if you want to setup a Texas LLC, it is pretty simple. I wish the same service is also being offered here. It will be a great help to small businesses.
Popularity: 3% [?]




