The biggest reason to incorporate a business is the separation of your personal assets from business liabilities. If incorrectly done you can leave an opportunity for a diligent attorney to pierce the corporate veil should an issue ever arise. There are also some potential tax breaks and deductions you may be able to take (consult a tax professional).
A legal professional can help you understand:
We typically see people file corporations on a national website. Yes, these work and yes they can be done quickly and fast, but you do get what you pay for. We provide open and honest answers, plus when it comes time to add various details most of the services do not allow for the drafting of unique paperwork.
If your goal is to grow. your business and add shareholders it is imperative you connect with us to address your 'what-if' scenarios. While we can not provide legal advice we can add the specific items you want, done at your direction. We also have access to business advisors who can speak about their personal experiences, which may help you more clearly define your goals.
California incorporation typically takes one to two weeks when done as a priority, using regular mail can take up to a month. We also provide rush filings which can be done in 24 hours.
A Paralegal can not give legal advice or go to court and advocate for you the same way an attorney will. The cost for a paralegal is usually less than an attorney.
The business name must not be the same as, or too similar to an existing name on the California state records. You can not mislead the public. You may search the California Secretary of State here: Link
As your paralegal team, we file Articles of Incorporation-General Stock with the Secretary of State. There is a filing fee.
All incorporated California businesses must have an agent for service of process in the state. Many clients ask an individual or business (such as ours) to accept legal papers on the corporation's behalf.
Bylaws are the internal corporate documents that set ground rules for the operations of your corporation. These are not filed with the state. These documents help banks, creditors, and the IRS your corporation is legitimate. As a designate, we can hold all of your corporate records and update, as necessary.
The incorporation statement must show the names and addresses of the initial directors. This must be maintained with the corporate records.
The first meeting should be held to appoint corporate officers, adopt bylaws, select a bank, authorize shares of stock, set the fiscal year, and adopt an official stock certificate form and corporate seal.
Actions must be recorded in corporate minutes.
Stock is issued to the shareholders in return for their capital contributions. Shareholders typically contribute cash, property, services ...or all three.
Sometimes stock may be issued based on performance and this needs to be clearly written out to avoid future legal issues.
Must be filed within 90 days after filing the Articles of Incorporation.
Must be filed every year.
California has an annual minimum tax: This tax ($800 currently) must be paid during the first quarter of each accounting period the corporation is active.
Additional taxes: Paid based on the total annual income
Filing Procedures: These include filing California Form 100
File EIN: The EIN is an online application done through the IRS Website.
California EDD: This is done when a corporation becomes subject to the state's payroll tax requirements.
We are your local incorporation paralegal service, here to serve your needs with exceptional customer service and often at a fraction of an attorney's fees.