Incorporating a business is no small matter. It changes the very nature of your business. There are many positives to incorporating a business though. If your small business is growing very large, then you may be considering incorporating. The benefits of incorporating a business are that you will not be held personally responsible for any debts or bankruptcies that the business may incur.
Some other benefits of incorporating a business involve tax benefits. When a small business incorporates they issue common stock. Stockholders who purchase a share in the business hold the stock. This creates a potentially unlimited revenue of capital for your business which otherwise would not have occurred. If you are thinking about incorporating a business, it is imperative that you speak with an attorney. This decision is too complex to make without receiving proper advice first.
A great resource for finding attorneys and further information can be found on the internet at http://www.smallbusiness.findlaw.com This wonderful company will offer you advice on issues such as
- Starting a Business
- Incorporating a Business (Incorporation and Legal Structures)
- Employment & HR
- Intellectual Property
- Finances and Taxes
- Forms and Contracts
- Finding a Small Business Attorney in your Area
The Small Business Find Law site will also give you in depth information regarding incorporating a business. They provide detailed information relating to forming a corporation, a checklist for starting your business, guides for naming your business, deciding where to incorporate your business, how to write and file the articles of incorporation, how to write corporate by-laws, creating a shareholder's agreement, a state guide of articles of incorporation, a sample certificate of incorporation, real life incorporation documents, sample and real life by-laws, and they also provide a wealth of information relating to your incorporated business and the IRS.
You may also browse their listing of small business attorneys by state. You should first contact a small business attorney and discuss your plans of incorporating a business before anything else.