Initial Articles Of Incorporation Template
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What is the purpose of the articles of incorporation?
Filing articles of incorporation, also called a corporate charter, offers your company tremendous benefits, such as protection from creditors and tax advantages. Articles of incorporation are the way that businesses formally acknowledge that they intend to form a corporation.
What is the main purpose of a corporation?
Statement on the Purpose of a Corporation Businesses make and sell consumer products; manufacture equipment and vehicles; support the national defense; grow and produce food; provide health care; generate and deliver energy; and offer financial, communications, and other services that underpin economic growth.
What is a corporation's articles of incorporation and what is their importance?
The articles of incorporation is the document that establishes a corporation as a separate business entity. The articles become a public record and provide important information about the corporation, including its name, contact information, and information about its shares of stock.
Who can file articles of incorporation?
If you want to structure your business as a corporation, one of the first formal steps you'll need to take is to file a special document with a particular state office. In most states, the document is known as the articles of incorporation, and in most states it needs to be filed with the Secretary of State.
What is the importance of articles of incorporation?
Articles of incorporation are important because they establish a company within its home state. The articles of incorporation inform the state of key aspects of the business.
What is the difference between articles of association and articles of incorporation?
What Are Articles of Incorporation? Filing Articles of Incorporation with the state agency (usually the Secretary of State) is the first step in forming a corporation. The Articles of Association, also known as Certificate of Incorporation in some states, are the charter to create a corporation.
Are articles of organization and certificate of formation the same thing?
The Articles of Organization (in some states this document is called a certificate or organization or certificate of formation) is an organizing document that is filed with the state limited liability company (LLC) filing office. Any person can file the Articles of Organization.
Does an S Corp have articles of incorporation?
A corporation must file articles of incorporation in the state in which it is located. State laws governing corporations vary. However, generally, articles of incorporation for S and C corporations are the same. The election of S or C status is separately accomplished through Internal Revenue Service filings.
Are S corps considered incorporated?
Keep in mind that S corporation is a tax designation, not a business entity type. You can't 'incorporate' as an S corporation. To become one, you have to apply to the IRS. S corps report their income to the IRS on Form 1120S.
What is the difference between a corporation and an incorporation?
An incorporation is the process by which you declare, or register, a corporate entity that is separate from its owners. A corporation is the actual legal entity that is owned by shareholders and considered legally a person.
Does an S Corp have bylaws?
Based on state law, an S corporation must adopt bylaws which represent the internal rights and responsibilities of the shareholders. In comparison, a limited liability company, or LLC, does not need to complete this process. It is also important to note that S corporations are only allowed one type of stock.
Do bylaws of a corporation have to be filed with the state?
All states require corporations to have bylaws, while none require corporations to file them. In fact, some states are forbidden by law from accepting or recording bylaws. Instead, corporations are required to maintain updated bylaws as approved by their boards of directors at their primary place of business.
Do you need an operating agreement for an S Corp?
Instead of using an operating agreement, which is specific to an LLC, an S corporation will rely on its corporate bylaws and articles of incorporation. All states require S corporations to use articles of incorporation. However, corporate bylaws are not required in every state.
Are Articles of Incorporation the same as an operating agreement?
For corporations, this legal document is called the articles of incorporation. An operating agreement is the document used for a limited liability company. Each document has certain similarities as well as differences in how they are used by each business structure.
How do you write an article of incorporation amendment?
Obtain articles of amendment of the articles of incorporation (sometimes called the certificate of amendment of articles of incorporation) from your state's Secretary of State. These can be found on your state government's official website. Obtain a copy of the original articles of incorporation.
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