How To Register Small Business Corporation

In order to become an s corporation the corporation must submit form 2553 election by a small business corporation signed by all the shareholders.

How to register small business corporation. Small business corporation is a government financial institution created in january 1991 under r a. How to start a corporation you can start a corporation by filing formation documents with your state and setting up a board of directors. The government will tax partners in the business depending on the share of ownership. You can register a business as a partnership an llc or a corporation. Market your business.

You can further choose to be taxed as an s corporation but that is a tax election separate from business registration. If the answer if yes you will receive numerous tax advantages when registering a pty. 8 obtain licenses and permits needed to legally operate the corporation. 6977 magna carta for small enterprises amended by ra 8289 in 1997 and ra 9501 in 2008. A registered agent receives official papers and legal documents on behalf of your company.

If your business is an llc corporation partnership or nonprofit corporation you ll need a registered agent in your state before you file. Corporations may register the business with the state department of revenue website or in person. Advertising and selling are part of the process but there is much more involved. The registered agent must be located in the state where you register. To legalize your small business apply for the right business permits and licenses from your local authority.

There are two options for forming a corporation. See the instructions for form 2553 pdf for all required information and to determine where to file the form. You need to get out and spread the word about your product or service to the right people to generate business. It is a personal service entity that employs at least 3 full time employees which are at the centre of the company s operations. Small business corporation sbc does your company qualify to be a small business corporation sbc.

For this reason you may hear tax professionals refer to double taxation of a c corp. C corporations c corps file irs form 1120 to report corporate income to the internal revenue service. The irs taxes company profits at corporate tax rates and dividends paid to shareholders at individual tax rates. You can hire a professional formation service to set up your corporation for a small fee.