To incorporate a new business entity in North Carolina, you must file Articles of Incorporation. This document describes how to do it.
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How to complete the NC articles of incorporation form
Online filing is free. In-person filing is free if you are a resident of NC. Otherwise, it costs $10.50 to file online. You must provide a copy of your Articles with your payment.
Make sure to include a copy with your payment.
If you do not want to use the online form, you can download one here.
You must complete both sections of the form, including the signature block.
The fee includes the cost of printing and mailing the documents.
Domestic articles of incorporation
A domestic article of incorporation is a document used to establish a legal business entity within one state. A domestic corporation must file articles of incorporation with the Secretary of State in the state where it is formed. In North Carolina, there are six types of corporations: domestic, foreign, nonprofit, public benefit, limited liability company, and general partnership.
There are three ways to incorporate in North Carolina: forming a domestic corporation, forming a foreign corporation, or forming a nonprofit organization. Each method requires different steps. You can choose whichever option best suits you based on your needs.
1. Forming a Domestic Corporation
To form a domestic corporation in North Carolina, you must complete domestic articles of incorporation. This process includes filing a certificate of an assumed name, filing a statement of corporate purpose, paying fees, and meeting several other requirements.
2. Filing a Certificate of Assumed Name
The most common way to incorporate this is to use a fictitious name. For example, if you plan to start a dog walking business, you could register the company under the fictitious name “Dog Walking Services.” If someone else already owns the trademark for that term, you’ll likely have to change your name.
An assumed name is a legal entity that allows individuals or businesses to operate as another name. For example, if you want to open up a store called “The Coffee Shop,” you could do it under the name “Coffee Shop.” This way, you don’t have to worry about getting sued because someone else owns the trademarked name. You can use the assumed name certificate to apply for a New York State assumed name registration.
A foreign (out-of-state) certificate authorizes a domestic organization (such as a corporation or limited liability company) to conduct business in another jurisdiction. If you’re opening up a coffee shop in New Jersey, you’ll need a New Jersey assumed name certificate.
If you want to know what type of assumed name certificate you need, contact the Secretary of State’s office in your home state. They can help you determine whether you need one and how to obtain one.
Include supplemental form(s)
The IRS has announced some changes to Form 1040, Schedule A. In addition to the usual filing requirements, taxpayers must include supplemental forms for certain transactions. These include:
• If you receive rental income, you must report it on Form 8849, Supplemental Income Tax Return, and Form 5498, Installment Sale Agreement.
• You must file Form 8300, Currency Transaction Report if you purchase $10,000 or more in cash during the tax year.
• If you are required to pay interest on a loan, you must attach Form 8938, Interest Paid on Unpaid Loans, to your return.
• If you make payments on a mortgage, you must attach Form 5329, Mortgage Interest Deduction, to your return. And, if you deduct the mortgage interest, you must attach Form 9466, Statement About Home Equity Conversion Mortgage, to your return. For additional information, see Publication 17, Your Federal Income Tax.
You might want to incorporate a business in North Carolina for many reasons. One reason could be that it offers tax benefits such as lower taxes, fewer regulations, and less paperwork. Another reason could be that you plan on selling products or services within the state. Whatever the case may be, there are several steps you must take to form your corporation correctly.
The first step is to choose the type of entity you wish to form. You have three options: S Corporation, LLC, or Incorporated. Each has advantages and disadvantages, so make sure you know what you’re doing before choosing.
Next, you’ll need to fill out the Articles of Incorporation. This document includes information about the name of the corporation, the address where the corporate office will be located, how much capital the corporation will hold, and whether the corporation is taxed at the federal or state level. Once you’ve filled out the Articles of Incorporation, you’ll need to submit them to the Secretary of State’s Office. Depending on your chosen entity, the process can take anywhere from 10 to 30 days.
Once your Articles of Incorporation have been filed, you’ll need to register the name of your corporation with the Secretary of State’s office. To do this, you’ll need to provide proof of payment of the $25 filing fee. After registering the corporation’s name with the Secretary of State’s Office, you’ll need to send notice to the IRS and the NC Department of Revenue.
While waiting for your Articles of Incorporaion to be approved, ensure you keep up with your annual filings. If you fail to file your Annual Report, you could face penalties ranging from $500-$5,000 per day.
Contact us today if you’d like help incorporating a business in North Carolina. We offer free consultations and can answer any questions regarding the formation of your corporation.
Frequently Asked Questions
How to File the Articles of Incorporation for a North Carolina Nonprofit
Filing the Articles of Incorporated is a critical step in beginning a 501(c)( 3) Nonprofit in North Caroline. To run a tax-exempt nonprofit, you’ll need to complete the paperwork and file it with the state. You’ll also need to register with the IRS.
You can skip this section if you’re already registered with the IRS. If you haven’t filed yet, here’s what you need to know about filing the articles of incorporation.
A corporation is a legal entity that exists separate from its owners. A corporation must file articles of incorporation with the Secretary of State, who keeps records of corporations’ filings.
2. Who needs to file the Articles of Incorporation?
Any person or group who wants to incorporate a nonprofit organization must file the articles of incorporation with the secretary of state. In addition, the board members of the newly formed corporation must each sign the documents separately.
How much does it cost to incorporate in North Carolina?
1. $0 – $500 per year
The first thing to consider is whether or not you want to pay for incorporation services. If you decide to go this route, you should know how much it costs to incorporate in your state. Many different factors determine what it will cost to incorporate in your area. These factors include the size of your business, the type of business entity you choose, and where you live. To get accurate information about the price of incorporation in your area, you need to contact a local attorney specializing in corporate law. You may find that some attorneys charge less than others, depending on their experience level and reputation.
2. $501-$1000 per year
If you decide to incorporate yourself, then you have two options. First, you can hire a lawyer to help you file the paperwork. Second, you can use online software programs to complete the forms. Both methods require a fee. Depending on your chosen method, you could pay anywhere between $100 and $1000 per year.
3. $1001+ per year
Incorporation fees vary greatly based on the type of business entity you select. A sole proprietorship requires only one filing fee, while a corporation requires three filings. Each additional shareholder adds another filing fee. Corporations also have annual franchise tax requirements. Depending on the amount of shareholders, these taxes can add up to thousands of dollars each year.
James Rourke is a business and legal writer. He has written extensively on subjects such as contract law, company law, and intellectual property. His work has been featured in publications such as The Times, The Guardian, and Forbes. When he’s not writing, James enjoys spending time with his family and playing golf.
