Whether one wishes to incorporate or form a corporation in the state of California or any other state of the U.S., BAAS assists them with the process. While most clients need to get the preparation as well as the filing done, some wish to only get the filing done of the documents created by them.
A corporation is sometimes referred to as the C Corporation. It is an independent legal entity that is owned by its members called the stakeholders. However, for any debts or losses, not the stakeholders but the business itself is responsible. The corporation structure is quite complex in nature and involves a lot of fees and other legalities.
An individual who wishes to form a corporation needs to know the following points:
For the formation of a corporation, the articles of Incorporation need to be filed with the secretary of state. Additionally, EIN or the Federal tax ID number is to be obtained from IRS. Once the corporation is formed, it is necessary to file the first annual statement of information with the state within the first 90 days.
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