Sunday, August 3, 2008

Checklist - Incorporating the New Business

The following are the steps for incorporating in Indiana. Yes, these are things that a non-lawyer can do but do you really want to? If not, get yourself a lawyer. I am always open to taking on new incorporations through out Indiana.

1. Check the availability of the corporate name with the Secretary of State, Division of Corporations. You cna create all the necessary Indiana government documents online.

2. Prepare the Articles of Incorporation.

3. Mail the original Articles of Incorporation, together with a copy for certification, a letter of transmittal and the appropriate fees, to the Secretary of State, Division of Corporations.

4. Upon receipt of a returned certified copy of the Articles of Incorporation, order a corporate book from an appropriate supplier containing pre-printed forms. Check with a local office supply store.

5. Prepare the By-laws and a Notice or Waiver of Notice and Minutes of Organizational Meeting or Consent to Action Taken in Lieu of Organizational Meeting of Incorporators.

6. Comply with all applicable state laws concerning any fictitious name under which the corporation will conduct its activities.

7. If "S Corporation" status is desired, file an Election by a Small Business Corporation, IRS Form No. 2553, with the Internal Revenue Service. This form can be obtained from the Internal Revenue Service.

8. Apply for and obtain a federal identification number. The EIN number is obtained though the IRS. Check out this publication here.

9. Apply for a state sales tax number, if the corporation will be responsible for collecting state sales tax.

10. Prepare a Stockholders' Agreement if desired.

11. Issue stock certificates to the stockholders of the corporation.

12. Prepare a Waiver of Notice or Notice and Minutes of Annual eeting of Stockholders and Directors.

13. Comply with all state statutes concerning annual meetings of stockholders and directors, filing of annual reports and payment of annual fees by the corporation.