Creating an LLC or Becoming Incorporated

Any corporation, partnership or LLC can be considered an individual within itself. With an incorporated business, all applicable tax laws pertaining to revenue and other financial aspects of the company are directed towards the company itself rather than the owner('s). Very different from a self-employed individual, corporate ownership protects the owners from being held responsible for any debt or financial loss created by their business.

Depending on where you live or where you plan to start your corporation or LLC, laws will usually vary on exactly what is required in order to achieve this status - some states in America have more strict laws surrounding businesses than others, while some countries possess laws pertaining to LLCs or corporations that are very different from other countries. Regardless of where you plan to center your business, knowing how to familiarize yourself with the laws surrounding small business creation, copyrighting, and other aspects of the business world in that area will exponentially increase your chances of being successful in whatever field you plan to have your business deal in.
Guide to Small Business Ownership

LLCs

LLC stands for limited liability company, a term that basically means owners of an LLC will receive less financial protection or immunity should something go wrong with their company. This rule also applies to the earnings of the company, especially when it comes to taxes. Different from a partnership or corporation, an LLC allows for both profits and losses to be passed through on to the owner's taxes. This is known as a pass through entity and is ideal for many people who wish to start their own individual projects or businesses because it allows for direct contact with your revenue while still providing protection in the event of financial loss or bankruptcy.

Corporations

Generally, a corporation will require at least 3 proprietors in order to be created. This can be either an individual, group of individuals, or another corporation, partnership or LLC. The need for multiple entities that are all willing to co-sign together into the company is what most often leads small business hopefuls towards limited liability company ownership instead. A corporation acts as an entirely separate entity from it's owners or directors and receives special privileges along with liabilities that will only apply to the corporation.


Generating Revenue Through Corporate Ownership

 How to Become Incorporated
In order to become incorporated or create an LLC, the owner or owners of a small business have a few different options they can choose from. The proper forms required can either be purchased online or acquired through the secretary of states office in your current location. Various websites offer small business owners with the ability to entirely complete all necessary forms and take care of any fees quickly and easily. Be prepared to provide extensive information about the owners, location, and other aspects of your business.

Speaking With Potential Investors

Registering an LLC, corporation or partnership will require - at minimum - the following paperwork or perquisites:

•  The full name and signature of the owner. When trying to incorporate your business rather than make it into an LLC, most states require that a minimum of three individuals be listed on the proper documentation.
• A chosen company name that is available in your state of creation along with basic information about your business.
• An exact address and location of your main office or retail store, etc.
• A registered agent in your state of operation that is qualified to receive and send legal documentation concerning your Business. This individual must also be listed in your LLC articles of organization forms, along with signature.

Copyrights, Patents, and Trademarks

 Creating an LLC operating agreement for your business will be invaluable to your success, especially in situations of shared ownership. Although useful, no such agreement is required on the legal end of LLC or corporate registration. To find out exactly what you will need in your particular state, contact the secretary of states office for more information on specific rules or regulations surrounding LLC registration. The required forms can also be obtained (for a fee) from the secretary of states office.

Currently, New York and Arizona both require that a newspaper ad be posted which states your intent to form an LLC before the submission of any articles of organization forms.

You would think that becoming incorporated would be a much more painful process - right? Wrong. Registering your business and getting the process rolling can take as little as five to ten minutes online in many cases, while one visit to the secretary of states office can provide you with all the legal documentation you will need to create your LLC or corporation.