How To Incorporate Yourself

2007-03-08 10:33:40

( Business )



Incorporating your own business yourself is not a simple task, but it can be done. Learning how to incorporate yourself is more than possible. These days, you do not necessarily need the help of lawyers or accountants to form your own corporation. Their assistance can be helpful, but it is not necessary. You do not need to have someone to do all the legwork for you either.

To learn how to incorporate yourself, you might consider conducting a little bit of research. The main thing you will to consider is filing your articles of incorporation. Your articles of incorporation are a set of documents that you need to complete and file before your corporation comes into existence.

The requirements needed to complete the articles of incorporation vary from locality to locality, but they will generally include the following: a corporate name, the name of a registered agent, and the corporation’s business address. Note that your corporate name should not be identical or deceptively similar to others. A registered agent is simply a representative of the company empowered to receive communications from the government and other corporations.

The names of your corporate officers may also be required. Officers usually include a president, a vice-president, a treasurer, and a secretary. Most jurisdictions will allow an individual to serve in all three capacities. You, for example, can serve as president, treasurer, and secretary of the company at the same time. Be aware however, that your authority and responsibility changes depending on the roles you assume. The President has the power to enter into contracts in behalf of the company and is directly responsible for operations of the company. The Treasurer is the financial officer of the company; he oversees the flow of funds and is in charge of financial records. Corporate records, on the other hand, are the responsibility of the Secretary.

You will also need a Federal Tax Identification Number to incorporate your business. Also known as an EIN is a necessary requirement for filing for tax returns; it is the number that tax agencies use to identify businesses. It is the equivalent of an individual’s social security number.

Once you have completed all the requisite forms and paid all the relevant fees, you are set. Once you know how to incorporate yourself, it is really not hard, but it can get tedious. You will have to invest time and money into the process. Once it is done, however, you will be better positioned to make your business grow.


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