Reversal of State Fortunes

The Corporate Company seeking to lobby several states to reduce or outright remove incorporating costs temporarily to encourage new small business growth around the country. Several states have been found lately to be revisting their policies and procedures with the hopes of luring small business creation and new investment by either reducing or flat out removing incorporation and permit fees from the state's coffers.

This has been viewed as a quick fix by some critics as a cheap ploy and has sparked fears that the absent dollars will have to be made up somewhere else to prevent a financial shortfall in some state programs.

While supporters of this effort site due to the lack of tax dollars currently being suctioned from the projected state revenues, this effort will kick off a type of small business growth and investment at the local level that many states truly need at this time.

The State of Georgia is one of the few states that has already reduced many of their existing fees for various permits and many of the filing documents that fall under the Secretary of Stateof Georgia and future republican gubenatorial candidate, Karen Handel. Secretary Handel's spokesperson declined to go any further at this time to permit the State Assembly to address these matters in their way first...however, evidence of a fee reduction is already visible on the state's Division of Corporations webpage.

Since The Corporate Company provides incorporating services for free to our clients currently, we clearly advocate for these state departments to get in line and use this effort to spur the additional growth that many of these states so desperately need. One our efforts here as been to redirect many clients to incorporate in other states that either provide reduced incorporation fees and/or to a state that would temparily waive these fees altogether.

Stay tuned, you haven't heard the last of this matter.

How to Start A Business in the United States

America is the land of opportunity and the well-established industry structures make it very easy for a novice who is wondering how to start a business in the US. There are a few things that you will need to do and although we trust you are more than capable, by enlisting The Corporate Company. The first thing a person needs to do is to analyze what kind of business to start, how much capital is needed, availability of funds and loan options etc. You should have drive and determination to work hard and not be dejected or give up incase of minor setbacks.

Do Sufficient Research
You have to do enough research about the business, the latest trends in the market, competition and legal structure of the business. If you want to incorporate, you should know what kind of Corporation you want, such as C, S or close corporation, LLC, or partnership etc. The Corporate Company has removed a great deal of the leg work and we've prepared and easier path toward your dreams being incorporated.

Sole proprietorship is the easiest and least-costly form of business entity, whereas a partnership is advantageous in helping bringing in more money to start a business. However, legal documents have to be drawn and agreements to be made about the distribution of profits etc., which can prove to be a headache for someone who likes to operate solo. Which is why, we fixed so you will never have too.

A detailed plan of the business, how to operate a business, how to get an edge over the competitors, what are the target goals and the time frame within which one aims to achieve them will be helpful to those wondering how to start a business in the US.

Availability of Credit
Availability of adequate capital is an important factor. Some people use personal assets to get a loan to start the business. While considering a loan one has to get the loan from a reputed financial agency after researching which creditor offers the lowest interest rates, borrow only as much as you can repay. I can't stress that enough. Making the correct use of the borrowed fund is essential. Presenting a well-planned proposal with all the necessary details and confidence in your plans will help creditors such as banks to approve the loan. One has to convince the creditors that your loan is a low-risk investment for them. Organizations such as the SBA, bank or several government-funded organizations, offer help to those who need to know how to start a business in the US. And we're putting you right in the front of the line to receive all the options and services available to you.

Licenses and Permits
Finding out what licenses and permits are required for operating your business and providing all the necessary documents to obtain the same is essential. The state website offers information regarding business licensing. The IRS can be contacted for information regarding taxation. We will help you with as much of that as possible.

Business insurance has to be considered and discussed with an appropriate agent. The local state government can be contacted for other important issues such as workers' compensation, minimum wages etc. They can be very useful in providing important information regarding how to start a business in the US.

A plan of the day-to-day operations, leasing or renting a property for the business, equipment needed and the number of employees needed, what to charge for the products or the service that your business offers has to be carefully considered. Adequate marketing such as via the Internet, advertising in the yellow pages etc will be necessary.

Once the business has been established it is necessary to work hard, have a clear idea of how to operate the business, good fiscal management, knowing how to prioritize and work on a budget, establish a good credit record with credit reporting agencies and having a firm commitment to pay off debts as soon as possible.

A helpful government, as well as softwares that are available online which can create documents and record documents needed to operate a business, has made it very easy for those who want to start a business in the US.

How to set up your LLC

To set up an LLC or limited liability company is one of the major decisions that any business or company can undertake. This form of business registration has a lot of implications for the operation and management of the company and can ultimately contribute to its success or failure. But the first thing any business that wants to set up an LLC should do is to get good advice.

There are pros and cons to this type of business registration and to set up an LLC will take some time and money, the two most important resources that any business has. It is useful to examine the options before investing either.

The simplest form of business registration is a sole proprietorship . This is usually a simple registration of the fact that an individual wishes to engage in public commerce and the nature of that business. Unless there are other licenses to obtain from the local regulatory authorities because of the nature of the business, this means a trip to City Hall, filling out the required forms, paying the minimal fees, and obtaining a business number that allows the company to begin business. The individual owner can then start up operations and assume all of the liabilities and tax requirements of the business.

A more complex form of business registration is incorporation. This involves registering the business as a corporation and issuing shares in that business to others who may wish to be part of the business. The act of incorporation involves filing acts of incorporation with the state and while an individual can prepare and file these without an attorney, legal and financial advice is usually required to ensure that the documents are in order. There will have to be a Board of Directors, officers of the corporation and a method to inform shareholders of the on-going operations of the business.

Somewhere in the middle of the previous two options is the option to set up an LLC. An LLC is more complex than a sole proprietorship and simpler than incorporation. It has some benefits and disadvantages. The disadvantages to choosing to set up an LLC are mostly in the time and costs of going through the process. Once the business has been set up as an LLC or a limited liability company the advantages begin to kick in.

The major reason to set up an LLC is to protect the owner or owners of a business from liability. This form of business registration limits the liabilities of the owners to the level of investment that they have made in the business. All other debts, responsibilities or liabilities that are incurred or caused by the operation of the business are not their responsibility.

The other main reason to set up an LLC is for taxation purposes. Income from a limited liability company is only taxed once and the state does not levy additional income tax on the company or business itself. This is different from a C-corporation where income is seen as both corporate and personal and taxed at both levels when dividends are taken.

Understanding Your Articles of Incorporation

We always want you to become more educated about your incorporation process document filing procedures. At this point, we thought it would be great to put some things in place on our end to ensure that you are getting a good understanding of your Articles.

An Article of Incorporation or Certificate of Incorporation is the set of rules that help govern management, and you file it with the governing authority, which is either the state or the particular regulatory authority. An Article of Incorporation covers the basics of the inception of the company like the board of directors, details about the number of shares, and its ownership.

Although the rules and bylaws vary among different states the basic draft remains almost same.
What an Article of Incorporation Covers Article of Incorporation covers the following necessary details that are to be disclosed while filing for Incorporation:

The name of the Incorporator or the person, who is organizing the company.
· The details of share holders including the amount of shares they own.
· The details of The Board of Directors.
· The details of the registered officer, the company's legal representatives, and the authorized signatory of the company.

The entire process of Incorporation authorizes a group of people coming together to work on a particular segment in a particular manner, as a legal entity. The company proposes to the registrar of Aboriginal Corporations, after the registration and the authorization from the Government authority, that the incorporation is in place and the company is incorporated. By incorporation under the Aboriginal Councils and Association Act of 1976 (ACA Act) a company can reap the following benefits:

· The members of the corporation may not be held accountable or liable for the corporation's debts, if the promoters disclosed this intent at the time of registration. · The members of the corporation consider or impose the customs of the state in some cases, or they provide a provision to consider such a tradition and take care not to disturb it.
· An indigenous corporation is authorized to operate across states in the whole country.
· There may be provisions for particular domain corporations rendering them exempt from filing annual financial statements.
· The cost of filing for incorporation is less or FREE when you utilize The Corporate Company.
· The registrar of Aboriginal Corporations can provide client assistance & support

The Registrar and the Securities and Exchange Commission (SEC) document and monitor the laws related to the buying of securities or selling of them. Issues like designating the number of members for a majority, public offerings, and the plan for public offerings, also find attention in the act. They include guidelines related to the proxy solicitation and mergers in the act, and subsequent by-laws. Voting rights, dissolution issues, issues related to dividends for the shareholders, and the division of profits, are adhered to.

The act also defines indemnification and the limitation of liability of the directors and the officers, contracts, advancement of expenses, interpretations of bylaws, and the incapability of a few certain provisions.

For additional help, The Corporate Company is there with you throughout this process. Sign on and we become your National Registered Agent for the first twelve months of your incorporation to clearly guide you best in the way of success towards your goals. Your time is now. We want to put the world in your hands.

How To Incorporate for FREE

Every business involves risk. When I started The Corporate Company it involved risk as well as personal sacrifices that you must be willing to overtake and overcome; in the end, you'll be glad that you did both.

There is a risk the business may collapse or stagnate. Control the extent of personal financial liability by making the business a separate legal entity. Basically, let your ideas operate under a focused, streamlined process called "incorporation". The Corporate Company wants to help you get organized by taking "you" out of the foundation of the business and let it stand on its on by incorporating. While sole proprietorships and partnerships are easy to form and maintain, these types of businesses do not protect the owner from personal liability.

Two reason we encourage you to incorporate are:

1 A Corporation is an artificially created entity, formed by a group of people. Its rights and liabilities are separate from the people involved in it. Legally, it can own assets, enter into contracts, be taxed, and sue or be sued.

2 Corporations can last forever, even after the death of the founder.

(TCC) makes the process of incorporation easier for you by filing a document with a state official, usually the Secretary of State. This document is called the Article of Incorporation or Certificate of Incorporation. We include the following information:

1 The proposed name of the corporation, its purpose, and the location of its headquarters.
2 The addresses and names of the incorporators.
3 Details about the amount and types of capital stock that the corporation is authorized to issue.
4 The responsibilities, privileges and rights of each class of stockholder, director, or officer. 5 A set of bylaws, which explain the running of the corporation.
6 Information about when stockholder meetings will be held.
7 All other information relevant to the corporation's operation.

After you pay your state required fees, (TCC) files all the necessary documents with the secretary of state. It is also possible to do this through another incorporation service company, which prepares and files these documents with the state and charges a consolidated fee...which is NONSENSE!...guys, we do it for FREE!

After the state accepts the articles of incorporation, the office of the Secretary of State sends a certificate of incorporation to (TCC) which acts as your National Registered Agent and stores these documents for you and reminds you of future important dates as well as makes recommendations for document filings that may benefit your business.

It is necessary to adhere to all the rules of incorporation. Failure to do so results in the court of law piercing the corporate veil and holding the owners personally liable for the corporation's debts.

The Importance of Maintaining Corporate Records

The limited liability protection offered to corporate shareholders is by far the most important and distinctive advantage of incorporation. To enjoy the benefits of incorporation, the company must observe corporate formalities and properly maintain corporate records and accounts. This helps the corporation retain its corporate status and protects its officers and shareholders from personal liabilities. Sure this can be a daunting task, however, not when you have The Corporate Company on your team.

Protect Your Corporate Status Corporations must maintain current and proper corporate records so that creditors, which include the IRS, are not able to challenge the validity of the corporate shield. The corporation must maintain corporate records of all meetings and store them in a safe place, since it is critical to maintain the corporate shield.

The Corporate Company maintains your corporate records and ensures the corporation meets state reporting and filing requirements and deadlines. If a corporation doesn't maintain corporate records or is unable to annually report and file records, the corporation will get dissolved by the Secretary of State of your perspective state.

We keep the corporation in good standing by maintaining the necessary records. This helps the corporation pay all necessary federal, state, county, and business taxes, including franchise taxes. Keeping them up-to-date is high on the priority list. The company must also ensure that the minute books are able to demonstrate share ownership of the corporation. This is of primary importance, as the minute books are the official source of documents. Maintain the minute books so that they exactly reflect when the shares of stock were transferred and who owns them. They must contain the original stock certificates or share register of the owners.

Maintaining of the minute books at the local level allows people to understand the decision-making processes of the corporation. They can also reveal when decision makers ceased to function properly. By maintaining corporate records in minute books, people leave a trail of the decisions and the transactions of the corporation. This helps determine effective dates for tax purposes and helps ascertain justification for the accrual of expenses and fixed obligations. They grant corporate directors and officers the authority to act. Up-to-date records allow the corporation to avoid challenges to the corporation's authority to take certain actions.

We want you to focus on "conducting and running your business", as you leave the document filings and state deadlines for your organization to us.

The Benefits of Incorporating for FREE!

If a business, which is mixed with personal assets, suffers losses, the owner is bound to lose everything. When personal assets are not involved with business the owner can always rely on these assets if the business suffers a set back. Allowing The Corporate Company to help form a corporation for you is a step towards protecting you from liabilities or expenses you incur.

Once we get you going and you are incorporated, it receives the status of a separate legal entity. It is a lot like a person, which can sue, be sued, and enter into contracts. This helps to establish and increase the credibility of the company among its employees and customers. Below is a list of benefits for owning a corporation. (Follow The Corporate Company on Twitter "myinc", for daily tips for you business).

1.A corporation offers limited liability protection to its owners. Owners are not liable for any obligations or debts of the corporation. This applies as long as the owners have not signed a personal guarantee, do not have joint account with the business, and the business doesn't violate any state laws or default on its taxes.
**Special note about this goes to those new owners who are trying to cut corners with the banks and not open a separate bank account for operating your business. Sharing accounts with your business clearly removes the benefit of the incorporation which protects you personally from the business' liabilities. So, keep them separate!

2.Corporations can deduct business-operating losses without restrictions.

3.Corporations can split income with shareholders to lower the overall taxes. This method is referred to as income shifting.

**(Wouldn't it be great if you as an individual taxpayer could "income shift"? Just give money to a friend and reduce your tax burden? Incorporating adds this benefit to your business to ensure its viability over the short term).

4.Medical and life insurance, education, childcare, retirement plans, travel, entertainment, and other benefits are deductible and tax free to the employees. In most States, these advantages apply even if the corporation has only one employee.

**(If you're interested, my team at The Corporate Company will let you know if you qualify in your state).

5.Businesses owned by sole proprietors are subject to frequent IRS audits whereas this is rare with a corporation.

6.Corporations enable people to accumulate assets and wealth at corporate tax rates, which are considerably lower than individual tax rates.
**(This is especially true with those 501(c)3 organizations, Churches, social organizations and etc.).

7.A corporation continues to exist despite the death, withdrawal, or bankruptcy of one of its shareholders.

8. A corporation offers financial flexibility making it easier to run a business. It can easily raise capital by issuing stocks and bonds.

9. Shareholders in a C corporation can transfer or sell shares without restrictions.

10. A corporation can obtain credit without a personal guarantee. The development of business credit is another benefit of incorporating.
**(Whereas your personal credit history may have suffered some dark spots, you can give your business the oxygen it needs by incorporating and obtaining credit that way).

It is simple to dissolve a company if there are no out standing debts in its name. Several States like Nevada do not tax Corporations, which makes incorporating more appealing to people.
Because of the benefits provided to the companies opting for incorporation, even small businesses with just one employee are incorporating. Contact The Corporate Company determine the benefits offered through incorporation for your business. Small business owners enjoy the ability to separate their personal assets from the business, let us show you how! Its FREE, what do you have to lose?

How to form a Non profit organization

The Corporate Company probably stands alone when it comes to advising our clients AGAINST preparing official corporate business plans prior to incorporating. Although we feel an internal plan must be obtained simply for the sheer understanding of where you intend to take the business, we don't think making it a required "fee" assessed document makes much sense. Many firms require as many documents as can be charged to the incorporator making the process to incorporate more costly, mundane and complex. In addition to that, we simply don't believe that most new entreprenuers have done the necessary research to formulate an appropriate plan to effectively govern themselves by throughout the process of incorporation.

Drafting a business plan helps crystallize the objectives of the organization and its goals. The Corporate Company does however believe when entering into an incorporation for purposes not for profit, plan, plan, plan! Business plans for Non-Profit Organizations are especially important, since these plans help those who propose to fund the organization understand the business better. These plans must be produced when approaching a potential fund provider such as a bank. These plans should be written carefully and hiring an expert to draft the plans or simply overlook them, we believe, is a good idea.

How To Write A Business Plan For A Non-Profit Organization:

1.A cover sheet must be attached, giving details and background information about those who are going to start the business.
2.The table of contents is important, so people can open to the page, which interests them most

3.The summary should include details about the organization, which people are behind the organization, what are the goals, the objectives of the organization, how the business plans to achieve these objectives.
4.The financial data should give a detailed explanation of the expected operating costs.
5.The business plan must include a detailed description of all licenses and permits needed to operate the business and who to approach to acquire them.
6.The business plan must describe the premises needed, the amount of the lease, what permits and approvals need to be obtained, and how to obtain these permits and approvals.
7.The writer must make a market assessment of the product, studying the customer base, the price, the quality and features of the product sold or service offered, the future sales projections and how to achieve them, and the plans to be followed incase the objective is not obtained.
8.The writer must supply a product description, giving the details of its features, quality, and the need for any improvements.
9.Marketing and sales of the product is another important area. The writer must give details on how the company shall create an awareness of the product through advertisements in the paper or the magazines, or over the inter-net.
10.Understand the competition and how to deal with them by listing the differences between both the products and identifying areas for improving the product.
11.The operating procedures and the equipment necessary must be listed and carefully explained in the business plans for Non-Profit Organizations.
12.Explain the amount and the training of the staff required.
13.Explain how the people in charge shall manage the operation.

These are the basic requirements for the business plans of Non-Profit Organizations. Several firms like The Corporate Company offer help in drafting these plans and running the business with software to file and document everything necessary.

New Business Costs? Do your research

Knowing the costs for starting a new business at the outset gets the business started on the right footing right from day one. The Corporate Company is about "the start up", period. However possessing the necessary knowledge of "how-to" effective start up is imperative. It has more to do with creating your business than letter-heads and business cards. The knowledge of start-up costs helps determine all the financing needs and helps map out the business plan. Both of these things enable businesses to obtain bank loan approvals.

Identify the Priorities: Knowing the cost of starting a new business helps to understand the cash flow of the business as well. When the entrepreneur knows the business costs, it is easier to determine which ones need to be paid first, and which can wait until later. This can save quite a bit in interest costs, especially when borrowing money to finance a business. Even when using their own savings to finance the business, the entrepreneurs can earn interest on the money they do not need straightaway by placing it in a deposit, or leaving it in a savings account.

Setup Costs: Apart from the costs of financing, take a look at the following setup costs.

1.Legal and professional fees include registering your business name and the legal costs of registering the business as a proprietorship, corporation, or partnership.
2.The costs of a rental lease for your business premises.
3.The initial rental payments for the premises.
4.Equipment like office furniture, computers, and software.
5.Office fittings and decor.
6.Other professional fees, such as fees for a graphics designer or public relations consultant.
7.Office supplies like paper, letterheads, and business cards.
8.Marketing and advertising costs.
9.Costs for obtaining permits and licenses.
10.Insurance costs for employee compensation.
11.A bank balance sufficient to meet payments for the upcoming quarter

There are many other costs for starting a new business that the entrepreneur must loot at in order to create realistic and profitable business and financial plans so that the business has the best chance to succeed. To obtain an idea of what these are, search for resources on the inter-net. Many websites offer software and industry-specific packages to help determine the costs of starting a new business.

It is a good idea to check with the local small business development authority for the best business support and advice. Speak to a CPA that specializes in small business set-ups. Attend local business group meetings and talk to as many businesspeople as possible for guidance.
Additional Help Software packages are available to new business owners to aid them in their endeavors. This software helps companies operate legitimately and keep track of their records. Many of these packages are geared toward small and new business owners and are affordable for those on a budget.

The Best Business Structure For Building Business Credit

How do you know what is the best business structure for yor business? When you contact The Corporate Company with your intentions of starting a business, following an assesment, we utilize that information to best determine which structure will suit you best. This ranks high up on our things to do list because it begins to open up the possibilities in a more specific and customized manner for your business.

A new business idea may come to a person at any point in their life. Usually what happens when someone puts a new business idea into action is they start the new business without giving much thought to designing the best business structure for building business credit. The main benefit of good business credit is that when the business needs extra money, the company can borrow it from the banks and other financial institutions with business credit. This spares the business owner from using their own personal line of credit.

One of the most important parts of building good business credit is paying attention to the corporate structure you have. TCC wants to help design the business structure so that no credit bureau will doubt the stability of your business.

Whatever kind of business it is, get proper licenses from the proper authorities. We will store those official documents A well-established corporate structure and credit profile also adds to the reliability and stability of a business.

Know the types of business structures:

1. Sole Proprietorships -A business structure is known as sole proprietorship when a single individual owns a complete business.
2. Partnerships - When the number of owners is more than one, the business is a partnership.
3. Corporations - In the corporate type of business structure, a legal company is formed with ownership jointly enjoyed by owners and shareholders as well.

It goes without saying that the Corporate type of business structure is best for building business credit. That is why most of the businesses that aren't corporations are restructuring and converting into corporations. With the economy the way it is now, they are having to rethink their day to day operations as well as their flow of both cash and credit.

The biggest advantage of the corporate structure is that a person's personal credit rating and the credit rating of the business are completely different entities. So, when the owner or any other shareholders make financial mistakes that adversely affect their credit rating, no damage is done to the overall business credit.

If you're new to the game, there are certain businesses that do not require a pre-established structure, guarantees, or personal credit checks to get good business credit. In the begininning, you carry out business transactions with the vendors in these kinds of businesses. Later on, having a credit profile with any reputed credit rating agency becomes easier by using these credit references.

We've got a lot going on this time of the year and your ideas are our fuel to get you going! This is your time! Meet up with me on twitter -"myinc" and follow our updates.