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As a tax attorney, we are often asked
about the formation of a corporation, or LLC,
and what is necessary.
And really it's a lot simpler than people think.
You can't really say you're incorporated until you've
actually filed a Certificate of Incorporation
or filed a Certificate of Formation.
We can handle that for you online as the authorized person
to sign it.
And that makes you effective the same day
you call because we can act on that for you
to get you incorporated with the choice of name, which we can
check out ourselves through our online service.
The second thing that's important
is if you need an Employer Identification Number, a tax
identification number.
If it's an LLC, a single person doesn't need one.
They can use a Social Security number.
Or if they're married, they can use a Social Security number.
But all other LLCs where there's partners involved,
other members, or corporations-- any corporation
needs to get an Employer Identification Number.
Once again, the Internal Revenue Service
has made that a lot simpler.
It can be done online.
And we do provide a number with our incorporation package that
tells you where you can call for that.
Or if you want us to handle it for you because sometimes
you're overseas, we also have a fee
we charge to handle that for you to get your Employer
Identification Number.
Obviously, a corporation , if it's going to be a business,
it needs to collect income and pay expenses.
And so the third thing, the juggler
of the entity with LLC or a corporation
is opening a bank account.
In Delaware, a corporation or LLC
is allowed to open a bank account any place.
It doesn't have to be in Delaware.
It can be any place where you happen
to do your banking business.
But you do it the name of the corporation, the LLC.
The fourth step in forming a corporation or LLC
is to operate the corporation or LLC using the name, which
means engage in legal contracts that specify
the name of your company as the contracting party,
whether that's on a lease or whether that's
with vendor contracts.
Any other type of contract or agreement,
you want to specify that it's your corporation, not yourself,
entering into those agreements.
And when you get to the bottom, the signature
block where you sign, it'll say your company name by,
which is B-Y colon, then you sign your name
as an officer, director, member, or manager, as the case may be.
And that's all it takes.
You simply file online.
You set up the EIN.
You set up a bank account.
Then you start doing business in the name of the company.
And it's that simple.
Thank you very much.