DC incorporation is for the most part a quick and easy process, similar to the procedure that has to be followed in almost every state. The registration process starts with the name search and preparing the articles of incorporation. One or more directors must be named and then shares have to be authorized.
Of course, it's not as easy as it sounds. Before actually filing for the registration, there are a few things that must be sorted out. One of these things is the choice of business structure, since the business can be registered as an S or C corporation. It can also be a Limited Liability Company.
The choice depends on many factors, such as the amount of regulatory compliance the firm is willing to put up with or the kind of taxation they find preferable. This has to be decided once and for all beforehand not just because the forms and registration process for each type is different, but also because it's hard to change the business structure afterwards.
Certain regulations have to be followed when deciding on the name. It must have abbreviations of one of the following - "company", "corporation", "incorporated", or "limited". Then comes the name search, to determine whether it is available. If any other company or corporation has already registered the same name for doing business in the District of Columbia, then it will not be possible to use the name again.
Co-operatives and trusts may also be registered in the same manner. But that is a different subject altogether, so let's focus on DC incorporation of a non-profit or for-profit organization. It is now time to come up with the articles of incorporation. It has to name at least one director. All named directors must have a resident DC address. A P. O. Box address is not allowed.
A registered agent, also with a physical DC address, must be provided. The specified agent needs to have an office open at the address. This office should be able to accept legal and official documents on behalf of the registered company or corporation during working hours.
The final step is share authorization and setting of a par value for the shares. These details have to be mentioned in the articles of incorporation. This is important because unlike states where the filing fee is constant regardless of the invested capital, corporations being registered in DC have to pay fees based on the par value and the number of shares authorized initially.
The documents may be posted, filed online, or submitted in-person. If sent by post, there will be a 15-day period required for processing and approval after the bank payment has been cleared. An in-person filing can be completed in three days, or approved on the same day by paying an expedited filing fee. Online filings require a 15-day period for processing and approval.
After the DC incorporation is approved, the firm may ask for certified copies of the documents and order a corporate seal. A bank account has to be opened in order to make and receive payments. Licenses and permits will need to be applied for, depending on local and federal regulations for the business sector in question. An EIN (employer identification number) will have to be obtained from the IRS. Non-profits can additionally apply for tax-exempt status.
Of course, it's not as easy as it sounds. Before actually filing for the registration, there are a few things that must be sorted out. One of these things is the choice of business structure, since the business can be registered as an S or C corporation. It can also be a Limited Liability Company.
The choice depends on many factors, such as the amount of regulatory compliance the firm is willing to put up with or the kind of taxation they find preferable. This has to be decided once and for all beforehand not just because the forms and registration process for each type is different, but also because it's hard to change the business structure afterwards.
Certain regulations have to be followed when deciding on the name. It must have abbreviations of one of the following - "company", "corporation", "incorporated", or "limited". Then comes the name search, to determine whether it is available. If any other company or corporation has already registered the same name for doing business in the District of Columbia, then it will not be possible to use the name again.
Co-operatives and trusts may also be registered in the same manner. But that is a different subject altogether, so let's focus on DC incorporation of a non-profit or for-profit organization. It is now time to come up with the articles of incorporation. It has to name at least one director. All named directors must have a resident DC address. A P. O. Box address is not allowed.
A registered agent, also with a physical DC address, must be provided. The specified agent needs to have an office open at the address. This office should be able to accept legal and official documents on behalf of the registered company or corporation during working hours.
The final step is share authorization and setting of a par value for the shares. These details have to be mentioned in the articles of incorporation. This is important because unlike states where the filing fee is constant regardless of the invested capital, corporations being registered in DC have to pay fees based on the par value and the number of shares authorized initially.
The documents may be posted, filed online, or submitted in-person. If sent by post, there will be a 15-day period required for processing and approval after the bank payment has been cleared. An in-person filing can be completed in three days, or approved on the same day by paying an expedited filing fee. Online filings require a 15-day period for processing and approval.
After the DC incorporation is approved, the firm may ask for certified copies of the documents and order a corporate seal. A bank account has to be opened in order to make and receive payments. Licenses and permits will need to be applied for, depending on local and federal regulations for the business sector in question. An EIN (employer identification number) will have to be obtained from the IRS. Non-profits can additionally apply for tax-exempt status.
About the Author:
You can get your business streamlined with the aid of DC incorporation by going to www.dcregisteredagent.com today. For more information then visit http://www.dcregisteredagent.com now.
No comments:
Post a Comment