What is
a Corporation?
The
corporation is a separate and distinct
legal entity apart from the owners of
the business. A corporation can own
property, enter into contracts, and
conduct business under its own name. |
What are the advantages of a
corporation?
A
Corporation is a separate legal entity
with its own identity separate and apart
from its shareholders (owners). As a
separate legal entity, a corporation is
responsible for its own debts.
Normally, shareholders, directors, and
officers are not responsible for
corporate liabilities. If the
corporation suffers losses, the
corporation itself must bear those
losses to the extent of its own
resources, and not the personal assets
of the individual shareholders. Thus,
the corporation protects the owner of a
business against personal liability.
Other
advantages include:
-
Sale
of stock for the purposes of raising
capital is often more attractive to
investors than other forms of
equity.
-
A
corporation can continue to exist
after the death of its founders
Stock may be transferred so that
owners can distribute their interest
in the corporation without the
corporation dissolving.
-
Corporations have many tax options
available, including setting up
pension, profit sharing, and stock
option plans.
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Do I need an attorney to incorporate?
While you
may consult with an attorney to form
your corporation, it is not necessary.
We will do all the work necessary to
form your new corporation. Simply fill
out our online order form and fax to
407-521-1904 or call 407-521-1919 to
speak to and speak to a representative
and leave the rest to us and save money
on attorney’s fees. |
Naming
the Corporation
The owner
can chose any name for your corporation
that you prefer, however, the name must
not be the name of an existing
corporation, i.e., the name must be
distinguishable. As part of our
service, we will perform the preliminary
name check for you.
Additionally, "Inc", "Co",
"Incorporation", "Corporation",
"Company", "Limited", or "LTD" must
follow the corporate name. |
What is a registered agent?
Most
states require a registered agent. A
registered agent is responsible for
receiving any legal documentation on
behalf of the corporation.
Quite
frequently, YOU can act as your own
registered agent as long as your address
is within the state that you are
incorporating in.
There are
other services that will charge you a
service fee for not choosing them as a
registered agent.
Not us!!
As a
matter of fact, we encourage you to act
as your own agent and, of course, there
is no charge.
However,
if registered agent services are
required, we are able to assist in any
state (as we frequently do in Nevada and
Delaware for out of state residents).
Simply
call 407-521-1919 to inquire. |
What are the advantages of a S
corporation?
An S
corporation is the election of a special
tax designation which must be applied
for and granted by the IRS to
corporations that have already been
formed. This election, in general
allows for the income of the S
corporation to be taxed to the
shareholder of the corporation as
opposed to the corporation per se.
The
primary advantage of an S corporation is
the avoidance of double taxation. That
is, the avoidance of payment of income
tax on corporate net income, and then
the payment of a further tax on the
dividend income that is derived from the
corporation.
Thus, an
S corporation allows certain income,
deductions, and losses to be passed
through the S corporation to the
individual tax return of each
shareholder. |
What do I get when filing for corp
The
corporate kit includes a customized
binder with your corporate name and,
custom corporate seal, 10 custom stock
certificates with your corporate name,
stock transfer ledger, minutes of
organizational meetings and bylaws. |
What is a Limited Liability Company?
An LLC or a Limited Liability Company is
a separate legal entity (business
structure) from the owners of the LLC.
An owner of an LLC is frequently
referred to as member.
An LLC is frequently referred to as a
hybrid of a corporation and a
partnership. The members of a limited
liability company are shielded from
personal liability and profits and
losses may pass directly to the members
without taxation of the LLC itself. |
What are the benefits of an LLC?
As mentioned above, an LLC offers
primarily two benefits. First and
foremost, an LLC provides the members
protection from personal liability.
Additionally, an LLC provides certain
tax benefits. That is, an LLC allows for
pass through taxation.
An LLC is similar to a corporation
because it has a) limited liability; b)
free transferability c) continuity; d)
centralized management.
The taxation of a limited liability
company is comparable to an S
corporation. However, unlike an S
corporation an LLC can have an unlimited
number of shareholders or "members" as
they are known in an LLC. Additionally,
there are no restrictions on who is a
shareholder as there may be with an S
corporation.
Thus, an LLC is similar to a corporation
because it allows for protection from
personal liability and simultaneously it
is similar to a partnership because it
allows for pass through taxation.
Therefore, an LLC is commonly referred
to as "hybrid corporation/partnership". |
Naming the LLC
The owner
can chose any name for your LLC that you
prefer, however, the name must not be
the name of an existing LLC, i.e., the
name must be distinguishable. As part
of our service, we will perform the
preliminary name check for you.
Additionally, "LLC", or "Limited
Liability Company" must follow the
entity name. |
What do I get when filing for LLC
The LLC kit includes a customized binder
with your LLC name, custom LLC seal, 10
custom membership certificates with your
LLC's name, operating agreement and
transfer ledger. |
How do I file for my LLC?
K&K
will file and execute all the necessary
paper work and documentation to file
your Limited Liability Company. Simply
utilize our
online order form
or call 407-521-1919 to place your order
over the phone. |
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