California Incorporation Step by Step

How to incorporate in California, obtain a taxpayer identification number, obtain S Election approval, prepare minutes and bylaws, file your statement of information-annual report. Taught by attorney. Forming a corporation means you must complete every step.  Serious consequences occurr when all the steps are not completed. You generally have no personal liability by forming a corporation. Failing to follow all the steps may make you liable personally. You need a taxpayer identification number to open a bank account or hire employees or even obtain a loan. You need to be a S corporation to be taxed at your individual tax rate and avoid double taxation. If you don’t create bylaws-rules and regulations for your business or fail to prepare minutes you not only may be personally liable for problems that arise. You need stock certificates to show who the owners are of the corporation. Selling the corporation will be difficult without these formalities. Many people form a corporation with an attorney at thousands of dollars, use an online incorporation service or have their accountant. We empower you to have the courage to incorporate on your own. Owning a business is great and you need to understand how your business operates.

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