Form a Corporation

We do, and have a lot of ability to help you. First, if you’re wondering whether your company would be considered a “reporting company” for FinCEN reporting purposes, or you want to know who are your company’s Beneficial Owners, try out our FREE, anonymous expert system to help answer these questions. It’s available here.

We have BOIR (which stands for Beneficial Ownership Information Reporting, or BOIR) as an option. We can do it, for a nominal fee, or you can do it.

Finally, we offer outstanding, best-in-class, BOI compliance tools to help you understand when you need to submit updated reports. We’ll keep track of important deadlines, and be ready to answer your questions.

We receive this question a lot, despite our attempt to be price competitive with “the rest”. It seems every time we lower our price, the competition lowers theirs even further.

At the end of the day, we’re an actual law firm. Your questions are answered by licensed and trained professionals. We are able to extend attorney-client privilege and confidentiality to our clients. Our business/activities is/are governed by the professional rules of conduct for each state we’re licensed in, and we carry professional liability insurance. We have licensed professionals dealing with the registered agent’s office.

Regularly, we fend off private investigators, police investigators and more. Our people have the training to maximize the legal protections available to our clients.

So, we’re not the cheapest game in town. The “other guys” are trying to sell formations, we’re trying to sell relationships. There are many things we won’t do that the “other guys” will do, because we’re worried about our clients’ long-term success and we’re concerned with minimizing our clients’ long-term liability.

We can provide a range of services for our clients, where forming the Corporation is just the first step. This includes contracts, switching ownership of real property, resolving disputes, trademarks, and much, much more. You can do things things with this firm, relying on our training, experience, professionalism and confidentiality.

If you’re considering a cheaper option, ask yourself the following questions first:

• How critical is anonymity, and do I want the maximum protection available?
• Do I want the ability to obtain sound legal advice?
• Do I care about whether things are setup properly?
• Is liability protection important, and do I want to minimize the ability for someone to “pierce the corporate veil” of my Corporation?
• Do I care whether the folks I hire are trained professionals?
• Do I care whether I can hold the company accountable for misguiding, or otherwise committing errors with my Corporation?
• Will I receive high-quality Bylaws and Shareholder Agreement, to help maximize asset protection, and minimize potential liability and long-term disputes?
• Do the “other guys” not disclose who they actually are, making it difficult to know whether their claims are actually true or they actually have the experience they claim to have?

If you answered “yes” to any of the above, you may want to think twice before hiring the “other guys”.

This is a very complicated question, and the odds are high that whatever you read on the Internet was wrong (if not written by an attorney).

What is important to realize, is you must register your company in the state (or states) it is conducting business. Conducting business doesn’t necessarily mean where your customers are (although it could). It means where do you have W2 employees, including yourself? Where are your base of operations? Where do you store product, if you sell product? Where is management located?

In most instances, the answers to these questions are going to be “where you are located, as the business owner.” Even if you’re conducting business on the Internet. If you have partners in other states, it could mean in each state a partner is a resident, especially if you are going to pay yourselves a standard wage (i.e. W2 income).

If you form a company in a state other than where you are located, you will probably (eventually) be required to register that company in your state of residence — creating more costs and complexity for you.

Therefore, in most circumstances, you are going to be best served forming a Corporation in the state of your residence. If you have a partner in another state, you can pick between the two states, and then foreign file the Corporation in the other state.

Have questions about this? You should consider a 30-minute business attorney consult. It is a difficult topic, made more difficult because each state has its own specific rules on what “doing business in the state” means.

Maybe. A Corporation can be taxed under Subchapter S (called a “S-Corp”) or Subchapter C (called a “C-Corp”).

Before you proceed, please ask your accountant whether he or she means a true Corporation taxed under Subchapter S, or whether a LLC taxed under Subchapter S would work.

This is because a LLC, in almost all circumstances, is less expensive to form, less expensive to maintain and less expensive to close down / dissolve. A Corporation is a more formal structure, adding more complexity and costs to your business.

Because of this, we rarely recommend a Corporation over a LLC, and will recommend forming a LLC over a Corporation in most circumstances unless your accountant has specifically said otherwise.