Business Formation

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Many of our business-formation clients are successful business owners who started out as consultants. They chose the simplest structure, that of sole proprietor, which worked well in the early years, but as they grew and prospered, their businesses became more complex. They added associates and partners and realized that a sole proprietorship was not offering the protections they needed and began to think about incorporating.

The biggest advantage of incorporating is protecting owners from liability.

The primary reason for incorporating is that it separates the business from the owners. The corporation acts like a separate body that can do things like buy and sell property, be taxed and enter into contracts. But most important, it protects its owners from personal liability for corporate debts and obligations.

Guideway Business Formation Package

Most of these business structures include:

  • Articles of Incorporation – This is your basic formation document that establishes the company and identifies the number of shares it is authorized to issue. We file this document with the Secretary of State for you.
  • Bylaws – The bylaws are the basic framework of the corporation, defining how elections are held and the roles of the officers.
  • Initial Resolutions – This organizational document identifies the corporation’s main players, what their positions are and how much stock they own.
  • Statement of Information – This is an annual report that tells the Secretary of State who your corporate officers are and who is on your Board of Directors.
  • EIN Assistance – This is your tax ID number.
  • Corporate Binder – We provide an elegant binder for storage of your corporate documents, records, and stock certificates.

LLCs: Growing Popularity for Ease of Use

Many people are choosing LLCs these days because they provide the critical personal liability protection, yet they’re fairly flexible and can be formed quickly and easily.

Features of an LLC:

  • Required filing of the Articles of Incorporation with the Secretary of State
  • Can be one or many members
  • Not required to have Boards or keep meeting minutes
  • LLCs can be managed by the members themselves

All Guideway Business Formation packages include the Secretary of State’s filing fee.

Business Formation

We create business formation packages for a wide range of entities, including today’s popular LLCs. We can help.

Guideway can assist you in determining the right entity for your business.