Incorporate your Business: A Legal Guide to Forming a Corporation in your state - Book With CD-ROM

By Attorney Anthony Mancuso, Nolo Press

Venue:

Description:

Set up a corporation, skip the lawyer, save money!

Incorporate Your Business lays out everything you need to know about corporate laws and regulations in your state, clearly explaining:

• why and when to incorporate
• what you need to know about corporate taxation
• whether to elect S corporation tax status
• how to incorporate an existing business

Plus, you can save thousands of dollars in attorneys' fees by incorporating a business yourself -- Incorporate Your Business guides you through each step. In the end, your business will enjoy a number of advantages, including:

Limited Liability

Incorporating your business limits personal liability for business debts -- this means owners are not normally financially liable for business debts and court judgments.

Tax Advantages

You can split business income between yourself and your corporation, thereby lowering income taxes.

Access to Capital

Corporations have better access to private venture capital than any other type of business. They are also well positioned to raise capital by selling shares to the public.

Employee Perks

The owners of a corporation who work for the business are treated as employees. They can take advantage of tax-deductible, corporate-paid benefits such as:

• pension plans
• stock-option and stock bonus plans
• medical expense reimbursement
• term life insurance coverage
• and more

Table of Contents

Introduction

1. Choosing the Right Legal Structure for Your Business

2. How Corporations Work

• Kinds of Corporations
• Corporate Statutes
• Corporate Filing Offices
• Corporate Documents
• Corporate Powers
• Corporate People
• Capitalization of the Corporation
• Sale and Issuance of Stock
• Stock Issuance and the Securities Laws

3. Understanding Corporate Taxes

• Federal Corporate Income Tax Treatment
• Corporate Accounting Period and Tax Year
• Tax Treatment of Employee
• Compensation and Benefits
• Employee Equity Sharing Plans
• Tax Concerns When Stock Is Sold
• Tax Treatment When Incorporating an Existing Business

4. Seven Steps to Incorporation

• Step 1. Choose a Corporate Name
• Step 2. Prepare and File Articles of Incorporation
• Step 3. Set Up a Corporate Records Book
• Step 4. Prepare Your Bylaws
• Step 5. Appoint Initial Corporate Directors
• Step 6. Prepare Minutes of the First Board Meeting
• Step 7. Issue Shares of Stock

5. After You Form Your Corporation

• Post-incorporation Tasks
• Tax and Employer Registration Requirements
• Ongoing Corporate Meetings

6. Lawyers and Accountants

• Lawyers
• How to Look Up the Law Yourself
• Accountants and Tax Advisers

Appendix A: State Sheets

Appendix B: 2004 Federal Tax Act Update

Appendix C: How to Use the CD-ROM

Appendix D: Tear-Out Forms