When starting a business, one of the most important decisions you need to make is choosing the right legal structure for your company.
Incorporating your business not only protects your personal assets but also gives your company credibility and helps it grow.
However, the process of incorporating a business can be confusing and time-consuming, which is why many entrepreneurs turn to incorporation services such as Incfile to help them navigate the process.
This blog post gives you an insight into incorporating your company with Incfile and discusses the benefits of using their services.
We will also provide an overview of the incorporation process and answer some common questions about incorporating a business.
What Is Incfile?
Incfile is an online incorporation service that helps entrepreneurs and business owners incorporate their companies.
The company was founded in 2004 and has since helped over 1,000,000 businesses with their incorporation needs.
Incfile is a one-stop shop for all your business needs, from registering your company to providing registered agent services and EIN/Tax ID Number.
Incfile Services For LLC, S-Corporation, C-Corporation, Nonprofit
How Does Incfile Work?
Incfile makes the process of incorporating your business simple and straightforward. Here are the steps you need to take to incorporate your business with Incfile:
Step 1: Choose A Package
Incfile offers three packages that cater to different business needs. The Silver package is free and includes the preparation and filing of your Articles of Incorporation.
The Gold and Platinum packages offer additional features and services such as registered agent services, EIN application, and compliance alerts.
The Gold package is $199 plus state fees, while the Platinum package is $299 plus state fees.
Step 2: Fill Out The Form
Once you have chosen a package, you need to fill out a form with your business information.
The form is easy to navigate and asks for basic information such as your business name, address, and the names of your company’s officers.
Step 3: Review And File
Incfile will review your information and file the necessary paperwork with the state.
The process can take anywhere from a few days to a few weeks, depending on the state in which you are incorporating.
Step 4: Receive Your Documents
Once your paperwork is approved, Incfile will send you your incorporation documents.
These documents will include your Articles of Incorporation, bylaws, and any other documents required by your state.
Benefits Of Using Incfile
1. Affordable Pricing
Incfile’s pricing is affordable compared to other incorporation services.
The Silver package is free, while the Gold and Platinum packages are reasonably priced.
This makes it accessible for entrepreneurs and small business owners on a budget.
Incfile is one of the most cost-effective (lower cost, higher value) business formation providers on the web.
2. Fast Turnaround Time
Incfile’s turnaround time is impressive.
They can incorporate your business in as little as one business day, which is a significant advantage if you need to start operating your business quickly.
3. Comprehensive Services
Incfile offers a comprehensive range of services, including registered agent services, EIN applications, and compliance alerts.
They also provide other services such as business name searches, free tax consultation, and a website builder. This makes it a one-stop shop for all your business needs.
4. User-Friendly
Incfile’s website is user-friendly and easy to navigate.
The incorporation process is straightforward and can be completed in a few simple steps.
They also have a helpful customer service team that can answer any questions you may have about the incorporation process.
Incorporation Process Overview
Incorporating a business involves several steps, including choosing a legal structure, filing articles of incorporation, and obtaining any necessary licenses and permits.
Here is an overview of the incorporation process:
Step 1: Choose A Legal Structure
The first step in incorporating your business is choosing a legal structure.
The most common legal structures for small businesses are sole proprietorships, partnerships, limited liability companies (LLCs), and corporations.
Each legal structure has its advantages and disadvantages, so it is important to research and choose the structure that best fits your business needs.
Step 2: Choose A Name
Once you have chosen a legal structure, you need to choose a name for your business.
The name should be unique and not already in use by another business.
You should also check that the domain name is available for your website.
Step 3: File Articles Of Incorporation
The next step is to file Articles of Incorporation with the state in which you are incorporating.
The articles typically include information such as the name of the corporation, its purpose, the number of shares of stock, and the names and addresses of the officers and directors.
Step 4: Obtain Any Necessary Licenses And Permits
Depending on the type of business you are operating, you may need to obtain licenses and permits from your state or local government.
These licenses and permits are typically required for businesses that sell goods or services.
Step 5: Obtain An EIN
An Employer Identification Number (EIN) is a unique nine-digit number assigned by the IRS to businesses for tax purposes.
You can obtain an EIN for your business by filing Form SS-4 with the IRS.
Step 6: Comply With Ongoing Requirements
Once your business is incorporated, you need to comply with ongoing requirements such as filing annual reports, paying taxes, and holding annual meetings.
Incfile can help you stay on top of these requirements by providing compliance alerts and other services.
Conclusion
Incorporating a business is an important decision that can have significant legal and financial implications.
While the process can be time-consuming and confusing, using an incorporation service such as Incfile can make the process more easier and straightforward.
Incfile offers affordable pricing, fast turnaround time, and a comprehensive range of services, making it an excellent choice for entrepreneurs and small business owners looking to incorporate their companies.
Remember, incorporating your business is an investment in your future success, so take the time to research and choose the legal structure that best fits your business needs.
