LLC, Business License, Incorporation
With the 29th largest population in the United States, Connecticut services both large and small businesses. Connecticut's major industries include insurance, agriculture, and manufacturing. Regardless of your industry, we can help you take advantage of Connecticut's business services.
Many companies decide to incorporate their businesses with protection in mind. A corporation is seen, legally, as its own separate entity. This protects the shareholders in that any debts incurred by the corporation belong to the corporation and not its shareholders.
If any legal is action taken against the corporation, the action is taken against the corporation itself and its shareholders are not held liable. Thereby, their personal property is protected.
If you have decided that incorporating your business is the right choice for you, call The Company Corporation. Backed by over a century of service, we have helped thousands of businesses through the process of incorporating and can assist with answering your questions about the process.
How to Incorporate in Connecticut
Before you incorporate, you will need to select a business name and determine if that name is available. The Company Corporation can search name availability for you. Once your name is selected, a decision must be made as to what type of corporation best fits your business, i.e., should you choose an S corporation or a C corporation? In choosing the corporation type, there are tax considerations that need to be taken into account. If you make the wrong choice, your corporation could be double-taxed, which can impact profit. For a more detailed breakdown of the benefits of incorporating as a C-Corp or an S-Corp, please check out The Company Corporation's respective guides.
Once you decide what type of corporation you are creating, you will need to select the individuals that you would like on your board of directors. Then, you will need to draft and file your corporation's Articles of Incorporation.
After the Articles of Incorporation have been filed, you will need to obtain a business license and any other permits that might be required for the type of business you are forming. These permits can be obtained from the city or the county in which your business is located.
Additional Considerations for Incorporating in Connecticut
Following the filing of the Articles of Incorporation, please be aware that additional procedures must be taken to comply with corporate requirements in the State of Connecticut. For example, the Organizational Meeting must be held within the first year of incorporating. Then, the Organization and First Report must be filed within 30 days of the Organizational Meeting.
Since you are operating a business, you may have employees. This means you will need to register on the federal level with the IRS for a tax ID number. You also may have to register as an employer at state and local levels, as well.
Enlisting the aid of a professional can make the task of incorporating much easier and ensure that all of the proper paperwork has been filed on-time and correctly. The Company Corporation can handle the details of incorporating for you. Our staff has a thorough understanding the rules and regulations necessary to incorporate in Connecticut. Call The Company Corporation today!