Corporation & Limited Liability Company formation
Let it be a startup or an established business, at some point time businessmen consider registering a company. Registering a company in USA for resident and nonresident is often similar. Additional documentation to be provided by nonresident for company registration.
Corporation and LLC:
There are two options available for the businessman in USA. They can either register a corporation or they can register a Limited Liability Company.
Limited Liability Company:
Limited liability Company as evident from its name are the limited liability businesses which protect their investors from the losses beyond their investment. LLC is a partnership based business which are taxed based on their personal taxable income. Income earned from the limited liability company is passed on to their investors and are charged on income tax rate.
LLC can choose to be taxed like a corporation on corporation tax if it is beneficial for the company. This flexibility enables company to get the maximum tax benefit out of the company.
There is no restriction of a certain managerial structure to be followed like corporation. This can save the company a lot of administrative expensive.
Corporation incorporated are separate legal and tax entity. Tax entity is actually a tax status based on the fact how IRS, the tax regulatory authority in USA, views the company. Corporation has a separate tax existence as well and is supposed to be taxed on a corporation tax imposed by the taxation.
Corporation also has to follow a certain managerial status in order for the company to be incorporated as a corporation.
In comparison to LLC, corporation do not have the option to choose between the taxes treatments.
Process of Company Formation:
First of all, name of the company is decided which has to be unique (never used before by any other registered company) and has to exhibit the nature of business to provide a better marketable image to the public. Then registered office address is nominated for the company.
Most important part is preparation of memorandum and articles of association. Memorandum includes the company name and initial shareholder details to which initial shares are issued. This detail can vary from at least one share issuance to many.
This detail can vary from at least one share issuance to many. Article of dissolution includes the rules and regulations which are to be followed by the company in order to operate. Changes in
Changes in an article of association are only possible by the shareholders exercising their voting powers.
After all the documents are collected and augmented. These documents are sent to the registrar of companies for further processing. After the company is formed, a first meeting of the board is held and registers are prepared and maintained on the regular basis which includes information regarding shareholders, directors etc.
WeAccountax has an expert team of professional and legal expert providing world class company/ corporation formation services.
- Our team can determine the eligibility of the business and beneficial standpoint of registering into either a limited liability company or a corporation.
- WeAccountax can help the company to skim through the long and legal procedure to either incorporate a corporation or limited liability company
- Our other services can help the business to further add value to take care of their accountancy, taxation and other finance services
- Our team can determine whether the business even needs to form a limited liability corporation or company or not. This assessment can determine whether company formation services are required by the business or not.
- Company formation can require various complicated legal documentation such as article of association, memorandum, etc. WeAccountax can ensure that all documents required by the regulatory authorities are on point. This not only speeds up the process but also ensures that acceptance rate of applications submitted by our teams are to the maximum.
- Our online company formation services emphasizes on affordability and accessibility for our clients in USA. This online company registration services enables our clients to seek benefit of our company regardless of their distant locality and low budget.