#5. File Articles of Incorporation<\/span><\/h3>File the Articles of Incorporation with the secretary of state’s office in the state where you want to incorporate. Articles of incorporation filing requirements vary by state. A company’s name, location, public or private shares, registered agent, and incorporator are all listed in the articles of incorporation. <\/p>
#6. Draft Corporate Bylaws<\/span><\/h3>Draft corporate bylaws that outline the corporation’s rules and procedures. In addition to the articles of incorporation, the bylaws usually have information about how the company runs, how shares are insured, how voting works, and how shareholder meetings are run.<\/p>
A firm often consults its bylaws to determine its best course of action, which can also be changed to adapt. Some other entities may need these, like financial institutions, and they may require bylaws when setting up a bank account<\/p>
#7. Obtain Necessary Business Licenses and Permits<\/span><\/h3>After incorporating, apply for the appropriate licenses and permits in your state. Check with your state to see if they have any additional requirements.<\/p>
Incorporating a business can take one to six weeks, and costs differ depending on the company’s location. Incorporating offers several benefits, including personal asset protection, tax advantages, deductible expenses, credibility and maturity, name protection, and longevity<\/p>
#8. Hold Board Meetings<\/span><\/h3>Board members will execute crucial activities at the first meeting. During the first meeting, the board should decide about adopting the articles of incorporation and bylaws, allowing and issuing stock, electing executives, and making other operational decisions. Meeting minutes are necessary because some entities may need a copy.<\/p>