What are the advantages and disadvantages of incorporating?
The answer to this question varies depending on your business and what you want to gain from incorporating. Some issues to consider when deciding include personal protection from liability, tax liabilities, and business continuity. Who can form corporations? Business and nonprofit corporations may be formed by one or more individuals or by another entity. How is a corporation formed? When individuals decide that they wish to form a corporation, they must file articles of incorporation with the Office of the Secretary of State. The articles of incorporation establish the individuals’ intent to form the corporation and indicate who is forming the corporation. Once incorporated, any changes or amendments must be filed with the Secretary of State’s office. To assist your corporation with other filing requirements, please refer to Filing Requirement Reminders. What is an annual report? All corporations must file an annual report with the Office of the Secretary of State by June 1st of each
