Business owners are interested in how to expand their company successfully. Once your business is off the ground, it is a good idea to register as a corporation. A corporation is a business structure that establishes a business as a legal entity. Registering as a corporation provides a legal separation between business owners and their company. It is an essential step for business owners who are looking to scale their business. The limited liability protection provided by this registration is enticing to investors. Registering as a corporation thus makes it easier to obtain new funding for expansion. If you are interested in growing your business, now is the perfect time to register as a corporation. Continue reading to learn how to obtain corporation registration to grow your business.
Determine A Business Structure
The first step to obtain corporation registration is to determine a business structure. There are several structural options that business owners have when filing for corporation. The structure you choose will be based largely on the type of service that you provide. It also affects the way you file for taxes and your day to day operations. It is thus essential to choose the right business structure if you want your business to grow.
If you do not choose a structure, your business will be a sole proprietorship by default. This means that your personal assets and liabilities are not separated from your business. When this is the case, business owners assume a great deal of personal liability. They also struggle to find investors who are willing to take the risk. Choose a Partnership, LLC, or C-Corp structure if you are looking to expand. Determining the right structure for your company is the first step in the corporate registration process.
Reserve A Company Name
The next step to expand your business through registration is to reserve a company name. This name will be intimately tied to your brand and company identity. Be aware that good company names are born not made. It is therefore important to consider your options carefully. In order to reserve your name, you will need to search through a database of companies that operate or were formed in your state. To avoid confusion, state laws prohibit companies from choosing a name similar to one that already exists.
You should have a few options ready just in case. In most states, corporations need to have “Incorporated” or “Corporation” as a part of their name. If you are filing as an LLC you may be required to attach “Limited” to your name. Once you obtain a verified company name, you will be able to roll out more successful marketing campaigns. This will help your business appeal to a wide audience and grow. Reserve a company name for your business in order to register as a corporation.
Register With Relevant Agencies
Depending on your company, there will be several federal and state agencies you need to register with. On the state level, register with agencies in the states where you conduct business. This means that you have a physical presence in the state or a significant portion of your company’s revenue comes from there. As your business grows, you will be dealing with a more widespread audience. Thus, it is important to register with all the relevant state agencies to account for this growth. Additionally, file with the U.S. Patent and Trademark office if you want to trademark your business, brand, or product name. Trademark registration allows companies to monetize their branded assets. This is a helpful step for businesses who want to expand. Another essential step to becoming a corporation is to register with the relevant agencies.
Get A Federal Tax ID Number
In order to register as a corporation, you will also need to obtain a federal tax ID number. This is also known as an Employer Identification Number or EIN. Your company will need an EIN to pay federal taxes, open a bank account, and apply for business licenses and permits. Applying for an EIN is free and it is recommended that you do it right after your register your business. You will need to have an EIN in order to hire and pay employees. It is thus a necessary step for business expansion. In order to work with certain types of organizations, your company must have an EIN. Thus, in order to grow your list of partnerships, obtaining this federal tax ID number is essential. Get a tax ID number in order to register as a corporation.
File Articles Of Incorporation
The last step in this process is to file articles of incorporation. You will file these documents with the secretary of state’s office. These articles of incorporation include information such as the name and address of the business. They also designate a registered agent for your company. Your registered agent must have a physical address in the state where you are filing. It is a good idea to hire a lawyer for this role as they are responsible for accepting legal documents on behalf of the corporation. Once you have filed articles of incorporation, you are seen as a legal business entity in the eyes of the government. You can now leverage this status to appeal to more investors. You can also legally conduct business in all of the states where you are registered. Filing articles of incorporation is the last step in the corporate registration process.
Business owners want to know how to register as a corporation. There are several steps to take in this process. First, you will need to decide on a business structure that separates for personal and company assets. Next, select and reserve a unique company name. Register with all relevant agencies on the state and federal level. Obtain a federal tax ID number so you can hire and pay employees. Lastly, file articles of incorporation with the secretary of state’s office. Now that you are seen as a legal business entity, your company can begin to expand. Use this post to learn how to obtain corporation registration to grow your business.