What is a corporate file?

This document provides vital information about the corporation, including the name, address, representative information, and business purpose of the corporation. Regardless of the state in which the corporation is incorporated, filing articles of incorporation is mandatory.

How do I file a corporation in NY?

How to Form a Corporation in New York

  1. Choose a Corporate Name.
  2. File Certificate of Incorporation.
  3. Appoint a Registered Agent.
  4. Prepare Corporate Bylaws.
  5. Appoint Directors and Hold First Board Meeting.
  6. Issue Stock.
  7. File New York Biennial Statement.
  8. Comply With Other Tax and Regulatory Requirements.

What does a corporation need to file?

The instructions for Internal Revenue Service Form 1120, the standard tax return for corporations, are quite clear: All corporations based in the United States “must file an income tax return whether or not they have taxable income.” The same rule applies to partnerships and limited liability companies that have …

Is an LLC a corporation?

A Limited Liability Company (LLC) is an entity created by state statute. A domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and elects to be treated as a corporation.

How do I file a business return?

Download the Annual Return Form, fill it and have it stamped by the Company Secretary. Upload the duly filled and stamped Annual Return Form for the year that you intend to file annual returns for. Select the mode of payment and make the payment. The most preferable mode of payment is via MPESA.

How do you close a business?

Process for Voluntary Strike off (Closure of Company)

  1. Hold Board Meeting to discuss and decide for voluntary strike off u/s 248(2);
  2. Pay off all the liabilities before holding EGM;
  3. Convene EGM for passing special resolution;
  4. File Special Resolution in MGT-14 within 30 days;
  5. File STK-2 form alongwith following documents:

What’s the difference between LLC and corporation?

The main difference between an LLC and a corporation is that an llc is owned by one or more individuals, and a corporation is owned by its shareholders. No matter which entity you choose, both entities offer big benefits to your business. Incorporating a business allows you to establish credibility and professionalism.

How do you get incorporated?

How to Incorporate a Business: Step-by-Step Instructions

  1. Step 1: Comply With Licensing and Zoning Laws.
  2. Step 2: Conduct a Business Name Search.
  3. Step 3: Name a Registered Agent.
  4. Step 4: Draft Articles of Incorporation.
  5. Step 5: File Articles of Incorporation With the State.
  6. Step 6: Write up Corporate Bylaws.

What if your corporation makes no money?

If your net business income was zero or less, you may not need to pay taxes. The IRS may still require you to file a return, however. Even when your business runs in the red, though, there may be financial benefits to filing. If you don’t owe the IRS any money, however, there’s no financial penalty if you don’t file.

Is an LLC an S or C corporation?

An LLC is a legal entity only and must choose to pay tax either as an S Corp, C Corp, Partnership, or Sole Proprietorship. Therefore, for tax purposes, an LLC can be an S Corp, so there is really no difference.

Is it better to be LLC or corporation?

Forming an LLC or a corporation will allow you to take advantage of limited personal liability for business obligations. LLCs are favored by small, owner-managed businesses that want flexibility without a lot of corporate formality. Corporations are a good choice for a business that plans to seek outside investment.

How do you file a corporation?

Filing Your Corporation Choose a corporate name. Ensure the name complies with your state’s corporation guidelines. Check the availability of a web domain for the name. Register the name with your state government. Select a board of directors for your corporation. Procure any necessary permits or licenses.

How to file as a corporation or S-corporation?

Prepare your financial statements. One of the first things your tax professional will ask for are financial statements.

  • you should complete and issue Forms W-2 for all employees.
  • Prepare information return Form 1120-S.
  • Distribute Schedules K-1.
  • File Form 1040.

    • Does a LLC or corporation need to file a DBA?

    DBA application filing is only required if you operate a corporation or LLC under a name other than the name that was filed with either the articles of incorporation, or articles of organization.

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