Checklist for New Corporations

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Updated April 13, 2012

Checklist for New Corporations

Incorporating is just one step in starting a new business. There are other federal, state, and practical considerations as well. The following is a list of things to do or think about once you have formed a new corporation:

Decide on corporate name

Prepare and file articles of incorporation

Contact the state tax board for information about state taxes and obtaining a state tax number

Check with the state department of consumer affairs to obtain any required business licenses or permits

Check zoning laws

Check with the city/ county business offices to obtain business licenses or permits

Contact the IRS for information on filing your federal tax schedules

Find out about workers' compensation if you will have employees

Protect your trade name

Meet with accountant to discuss capitalization and tax planning

Get adequate business insurance or a business rider to a homeowner's policy

Complete and file IRS Form SS-4

Prepare a shareholder agreement, if necessary

If necessary, meet with securities lawyer regarding stock sales

Obtain corporate seal and ring binder for minutes

Pay any applicable taxes for sale or issuance of stock

Hold organizational meeting

Complete the bylaws, waivers, minutes, and offers to purchase stocks

Sign all documents and place in minute book

Issue stock certificates

Be sure consideration is paid

Complete a bill of sale if property is traded for stock

Get licenses

Open bank account

For S corporation status, file IRS Form 2553

Print business cards and stationery

Acquire an email address

Set up your website

Corporation: Introduction

Each year, hundreds of thousands of corporations are registered in this country, and it is not a coincidence that the largest businesses in the world are corporations. The corporation is a popular method of doing business for most people because it offers many advantages over partnerships and sole...
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What is a Corporation?

A corporation is a legal person that can be created under state law. As a person, a corporation has certain rights and obligations, including the right to do business in its own name and the obligation to pay taxes. Some laws use the words "natural persons." A natural person refers only to human...
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Articles of Incorporation

The Articles of Incorporation (in some states referred to as the Certificate or the Certificate of Incorporation) is the document that is filed with the appropriate state agency to start the corporation. In most states, this agency is the Secretary of State but may be called the Department of State...
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Shareholder

A shareholder is a person who owns stock in a corporation. In many small corporations, the shareholders act as the officers and directors, but many shareholders do not have these roles in large corporations. Sometimes small corporations have shareholders who are not officers, such as when the stock...
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Board of Directors

The board of directors is the controlling body of a corporation that makes major corporate decisions and elects the officers. It usually meets just once a year. In most states, a corporation can have one director (who can also hold all offices and own all the stock). In a small corporation, the...
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Officers

Officers are appointed by the board of directors to run the day-to-day operations of the corporation. Commonly, and by law in many states, a corporation will have at least three officers: President Treasurer or Chief Financial Officer Secretary Officers do not have to be shareholders or directors,...
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