Washington state requires you to file articles of incorporation to form a corporation. These documents establish the basic structure of the corporation and include information about shareholders, directors and officers, and the type of entity being formed. You must file articles of incorporation within 30 days of forming the corporation. If you fail to do so, the organization will cease to exist.
You can prepare and file articles of incorporation online and pay $50 per person for the privilege. But it’s best to hire a professional to help you complete the process. A qualified attorney will guide the entire process, including helping you choose the correct corporate name, drafting the appropriate documents, and filing them correctly.
Table of Contents
Overview
The incorporation process begins with filing the papers with the Secretary of State. You can do it yourself or hire a lawyer or accountant to help.
Once incorporated, you must pay taxes. You can file either quarterly or annual returns, depending on how much money you make during the year. If you owe tax, you must remit the payment within 30 days.
Incorporating a Business
You can form a corporation by incorporating under one of four types of entities:
1. A sole proprietorship – where the owner does everything himself.
2. An S-Corp – where the owner forms a separate legal entity called a “subchapter S corporation.”
3. A partnership – where partners pool resources and split profits and losses.
In advance of submitting your articles of incorporation
When starting a business, there are many things to consider. One of those things includes incorporating your business. If you are considering doing this, make sure you take into account all the legal requirements and paperwork involved. You don’t want to end up with a bunch of unnecessary red tape hanging over your head. Here are some tips to help you prepare for incorporation.
1. Get Legal Advice
If you’re planning on incorporating, you’ll probably need to hire a lawyer. This is because the process is complicated and requires lots of documents. A good attorney will know what needs to be done and how to do it properly. They will also ensure that everything goes smoothly and that no one gets hurt along the way.
2. Research Local Requirements
You might think that you won’t need to worry about state laws since you live in New York City. However, even if you live in a big city like NYC, you still need to research local Consent requirements. Some cities require Filing specific types of businesses to incorporate while others limit the number of employees. These rules could affect whether you qualify for tax breaks or special licenses.
3. Determine What Type of Business Is Best For You
There are different types of companies out there. There are sole proprietorships, partnerships, LLCs, corporations, etc. Each type of entity has its pros and cons. Before making a decision, ask yourself what best suits your situation. Do you just want to start a small business or plan to grow it?
Articles of Incorporation for a Business Corporation: How to File
Article of Incorporation is a document that establishes the legal presence of a company. The article must include information about the name of the company, the location of its principal place of business, the number of shares it issues, the total number of outstanding shares, the amount of authorized capitalization, the initial par value of each share, the date upon which the articles will become effective, and the names of the incorporators.
A corporation is a separate legal personality from its shareholders. This means that the corporation owes no personal obligations to anyone except those legally required under law. In return, the corporation owns property and assets, such as buildings and equipment, that belong solely to itself. Corporations are often referred to as “legal persons.”
Shareholders own stock and receive distributions. Stock ownership entitles you to vote at shareholder meetings and elect directors. You can sell your shares to another investor. However, you cannot transfer your shares to someone else without permission from the board of directors.
Social purpose corporations are exempt from corporate taxation. They pay no federal income tax and no state franchise tax. Instead, social purpose corporations use their profits to support charitable organizations.
To form a corporation, you file articles of incorporation with the secretary of state in the state in which you want to incorporate. The articles must include the following information:
• Name of the corporation
Consent Corporate Name
The process of choosing a name for your brand or product can be difficult. You want something catchy, memorable, and unique. But you don’t want to spend too much money on it. How do you know what to pick without spending too much? Here are some tips to help you make the best choice possible.
1. Start with Your Business Goals
Before you start looking at names, ask yourself why you’re doing this. What problem does your business solve? Why did you decide to become a startup in the first place? If you’re launching a new product, think about how your customers use your existing products. Do they love them? Hate them? Use them once every few months? Once you’ve answered those questions, you’ll better understand what type of name you should go with.
2. Look at Similar Brands
Look at similar brands if you’re trying to come up with a name for a new product. For example, if you’re making a new kind of coffee cup, see if there are already companies selling cups that people call “coffee mugs.” If you’re starting a clothing store, check out stores like Zara and H&M. They might have a name that you could steal. Or maybe you’d rather avoid copying someone else entirely. In that case, you can always take inspiration from your competitors’ mistakes.
Your brand personality is the voice of your company. It defines your brand and helps potential customers understand what your business is all about. When naming your company, consider things like your target audience, industry, and whether you’re targeting consumers or businesses.
Filing Fees
The IRS requires individuals incorporated in the United States to file tax returns every year. If you are self-employed, you may choose to pay quarterly rather than annually. Individuals who are required to file include sole proprietorships, partnerships, corporations, LLCs, S Corporations, trusts, estates, and nonresident aliens.
If you are filing a return for a corporation, partnership, trust, estate, or nonresident alien, you must apply for an Employer Identification Number (EIN). An EIN is used to identify the taxpayer in the Federal Government’s records.
You cannot use an EIN unless it has been assigned to you. To obtain an EIN, you must complete Form SS-4 Application For Employer Identification Number, File With Your Tax Return, And Pay Any Required Filing Fee. This form includes instructions about how to obtain an EIN.
In addition to paying the filing fee, you may also be required to pay additional fees based on the type of business entity you are forming. These fees vary depending on whether you are incorporating for profit, nonprofit, or another purpose.
To learn more about incorporation and licensing requirements, check out our article, “How Do I Incorporate?”
How to Elect S-Corporation Status
Scorp status allows you to pay lower taxes on profits, dividends and interest income. It pays to know what you’re getting into if you’re considering electing S-corp status. Here are some things to consider before making the decision.
1. What Is an S Corporation?
An S corporation is a pass-through entity where shareholders report their pro rata shares of taxable income on their individual returns.
2. How Does S Corp Status Work?
If you elect S corp status, you’ll file IRS form 2553 and use Schedule K-1 to report your share of the company’s net losses and gains. Your share of the loss is added to your personal income.
3. When Should I File My Return As An S Corp?
You must file your return as an S corp within three months of the end of the calendar year. So if you want to take advantage of S corp status for 2016, you’d need to file your return by April 30, 2017.
How to Incorporate a Nonprofit Corporation: Articles of Incorporation
A Washington nonprofit corporation is different than a Washington nonstock corporation because it does not require shareholders and shares cannot be sold. However, there are some similarities between the two types of corporations. Both must have a name, address, date of formation, number of directors, and officers. If you want to incorporate a nonprofit corporation, you must file articles of incorporation with the Secretary of State. You must provide information about the corporation’s purpose, the incorporators’ names and addresses, and how many shares of stock have been authorized.
The articles of incorporation should state what type of entity the corporation is — whether it is a nonprofit corporation, a charitable trust, a domestic limited liability company, or another type of corporation. For example, a nonprofit corporation is formed under Chapter 29 RCW to promote education, religion, health, charity, science, art, industry, commerce, agriculture, government, labor, or welfare.
If you are incorporating a nonprofit corporation, you should appoint one or more individuals to serve as directors. These people will run the show. They will make decisions about the corporation’s direction, such as selecting its officers. Most states require directors to hold stock in the nonprofit corporation. In addition, most states require directors to be residents of the state where the nonprofit corporation is incorporated.
You must file articles of incorporation within 30 days of forming the corporation. This filing fee is $50.00 per article.
Frequently Asked Questions
Who Needs to File Articles of Organization in Washington State?
In Washington, you can form many different entities such as corporations, partnerships, nonprofits, and LPs. Each type of entity requires unique formation documents with the Washington Secretary of State.
The most common type of entity is a corporation, which is usually referred to as a “C-corporation.” A C-corp is taxed like a sole proprietorship. However, it offers certain advantages over a sole proprietorship, such as limited liability protection and easier access to capital. There are three basic types of corporations: S-Corps, C-Corps, and LPs.
To start a new business in Washington, you must register with the Secretary of State. This includes filing articles of organization. While there are several ways to do this, one way is to use the online system. To form a Washington LLC, you must complete a Certificate of Formation. In addition, you must complete a Declaration of Principal Business Purpose, a Statement of Information, and a statement of financial affairs.
But Why Can’t I File My Own Articles of Organization for My LLC in Washington State?
In Washington State, it appears that you cannot file your articles of organization for your limited liability company (LLC) yourself. You can do so via the Online System for Electronic Services (SOS), but doing so requires jumping through several hoops. If you want to avoid those hoops, you can use a third-party service like LegalZoom to file your articles of organization.
The first step is to select a name for your LLC. Once you’ve done that, you’ll be prompted to choose a Registered Agent. This person agrees to receive legal notices about your LLC and accepts service of process on your behalf. After selecting a Registered Agent, you’ll be asked to fill out some basic information about your LLC. Then, you’ll be able to submit the completed paperwork.
After submitting your paperwork, you’ll be notified when your LLC is officially formed. At that point, you’ll be given instructions on how to open an account with the Secretary of State’s office to pay fees associated with your LLC.
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.
