Checklist for New Corporations

Now you have finally come to a decision. You are finally deciding to open up your own business corporation. But before you do, here are some things that you would have to look into and process before beginning your own business empire:

  • Decide on a corporate name
  • Prepare your Articles of Incorporation and have them filed with the proper government agency within your state.
  • Inquire about information regarding state taxes and obtaining a state tax number from your state tax board
  • Inquire on how to obtain all the necessary business licenses or permits from your local State Department of Consumer Affairs office
  • Check on zoning laws
  • Acquire the necessary business licenses and permits from city/county business offices
  • Get information about filing your federal tax schedules from the IRS
  • If you plan to hire employees for your company get information on workers compensation
  • Have your company name copyrighted/Protect your trade name
  • Get adequate business insurance or a business rider to a homeowner’s policy
  • File your completed IRS Form SS-4
  • If needed, prepare a shareholder’s agreement
  • Meet with a securities lawyer regarding sales of stocks, if necessary
  • Create your corporate seal and your minute book
  • Pay all taxes applicable for the sale or issuance of stocks
  • Hold your first organizational meeting
  • Complete all your corporate bylaws, waivers, minutes, and offers to purchase stocks
  • Sign all your official and legal documents and place it in your minute book
  • Begin issuing certificates of stocks to your shareholders
  • Make sure that all considerations have all been paid for
  • If there are properties traded for stocks, make sure that you have a completed Bill of Sale for them
  • Get all your licenses
  • If you decided on acquiring an S-Corporation status, file your IRS Form 2553
  • Begin printing business cards and stationeries
  • Acquire your own business email address
  • Create your own website
Once you have accomplished the following you are on your way to beginning your own business. Cheers!