50 States of Incorporation: Pennsylvania

incorporate in PennsylvaniaAs one of the thirteen original colonies of the United States, the state motto of “virtue, liberty and independence” couldn’t be better suited for any other state than Pennsylvania. Nicknamed the Keystone State, Pennsylvania is ranked at #6 in the nation for its total gross state product and noted for being the home to eight Fortune 500 companies as well as hundreds of public schools, thousands of private schools, and several hundred colleges and universities.

Sitting at #27 on the Forbes best states for business list, entrepreneurs looking to incorporate in Pennsylvania will be happy to find that the quality of life is in the top ten bracket due to the caliber of education available and range of private and public companies headquartered in the state. (Some of which include U.S. Steel, Heinz, and Crayola, the latter of which has acquired the rights to a personal favorite company of mine, Silly Putty.)

Continue reading

Share!!!

50 States of Incorporation: Oregon

Oregon is one of the most ecologically diverse states in America, with rolling forests, wind-swept coasts, and beautiful mountains. This natural beauty is one of the main drivers of tourism, one of the state’s largest industries. Oregon is also home to growing businesses in the tech, forestry, and manufacturing industries, and, according to Forbes, the state is poised to see some serious incorporate in Oregon growth. Today we’re answering the question of how to start a business in the Beaver State, and how to form an LLC or incorporate in Oregon.

What is needed to start a business in Oregon?

Oregon requires that all businesses within the state register with the Secretary of State’s Office. Now, if all you want to do is run a sole-proprietorship, you may only need to file for a DBA, or ‘Doing Business As’ name. This registration is meant to prevent fraud, and allows you to do business under a name other than your own. If you want to form a limited liability company or incorporate in Oregon, you’ll have to do a bit more paperwork.

How do you form an LLC or incorporate in Oregon?

Forming an LLC or incorporating both turn your business into its own, separate legal entity. That is good news for you because it means your company can effectively carry, and is responsible for, it’s own debts, so creditors cannot seize your personal assets to pay for the business’s debts. To form an LLC, you file your Articles of Organization with the Secretary of State and pay a $100 fee. This form will ask you for the business’s name, which must contain the words ‘Limited Liability Company,’ or the abbreviations ‘L.L.C.’ or ‘LLC.’ Along with your company’s name, you have to list its address, organizers, and the name and address of its registered agent.

If you’d like to incorporate in Oregon, you fill out your Articles of Incorporation, file them with the state, and pay a fee. Your corporation’s name has to include a designator like ‘incorporated’ or ‘corporation,’ and you will have to list the names and addresses of the incorporators, as well as the name and address of your registered agent. Corporations, however, are a bit more complicated to run, and you are required to name a board of directors, who will then help lead the business. You should also prepare corporate bylaws to guide the business’s development, and prepare minutes for any meeting at which a major business decision was made.

Does the state offer any support to small businesses in Oregon?

Yes! Oregon actually has a very handy online tool called Business Xpress meant to help out new small business owners. Using it, you can track down forms, find networking and training opportunities, and even start a business plan! The tool also has links to programs meant to support women and minority business owners in Oregon, so be sure to look around and see if there are any opportunities or grants you can use to boost your business.

Are you ready to start a business in Oregon? Have any questions about how to form an LLC or incorporate in Oregon? Give us a call at 1 (877) 692-6772 or leave a comment below!

Share!!!

Introducing MyBizWiz – Our New Entity Choice Wizard!

MyBizWiz, MyCorp’s new business entity wizard, was created to help answer one of our customers’ most commonly asked questions; ‘What type of business entity should I form?’ There are plenty of different factors that need to be considered before making that final plunge. How many people run the business? What sort business is it? Do you have personal assets you’d like to protect?

Introducing MyBizWiz - Our New Entity Choice Wizard!

In order to help new small business owners navigate the often confusing world of legal business entities, MyCorporation chose to build the new MyBizWiz tool. All you have to do is answer a few simple questions about your business, and our entity-choosing wizard will tell you what type of business entity would suit you best. It also gives you a general description of that entity and runs down the basic benefits behind it.

To get started, just click here and answer a few questions. There are no obligations, and we don’t ask for any personal information – MyBizWiz is here to help you choose the best type of business entity for your company!

We’re happy happy to answer any questions you might have about MyBizWiz -give us a call at 1 (877) 692-6772!

Share!!!

50 States of Incorporation: North Dakota

North Dakota is easily one of America’s most intriguing states. It was fairly unaffected by the Great Recession, and has one of the lowest unemployment rates of any state. North Dakota is also the only state with a state-run bank, the Bank of North Dakota , and a state-run flour mill, the North Dakota Mill and Elevator, which is also the largest flour mill in the USA.  incorporate in North Dakota Both of these institutions are carryovers of the Nonpartisan League, a populist political party that did so well in North Dakota that it gave the state a three-party system before eventually merging with the Democrats. North Dakota is also the reason we have a National Park system – its natural beauty inspired Theodore Roosevelt to champion conservation.

North Dakota’s excellent economy makes it a prime state to start a business. So just what do you have to do to start a company in the state? And how do you form a limited liability company or incorporate in North Dakota?

Continue reading

Share!!!

MyCorporation en Español!

MyCorporation is proud to announce that, after months of hard work and translations, we are officially launching the Spanish version of our site! 

MyCorporation en Español!

Starting your own small business can already be fairly confusing, and bilingual people are usually more comfortable with their native language. So we felt that our bilingual customers would appreciate a Spanish version of our site to make the incorporation or LLC formation process as smooth as possible.

Releasing a spanish version of our site is also something we’ve wanted to do for years as a way to better serve America’s bilingual entrepreneurs. Did you know that, in 2013, 19.5% of new entrepreneurs were of hispanic descent! And 57% of all Hispanic business owners are bilingual!

We’re extremely proud of our new site, and we hope our Spanish speaking customers find it as intuitive and helpful as the English version.

Have any questions about starting your own business? Ready to become an entrepreneur? Give us a call at 1 (877) 692-6772 - we’re happy to help and have several bilingual team members to help answer your questions! 

Share!!!

50 States of Incorporation: New Mexico

This week we’re covering the Land of Enchantment – New Mexico! Though admitted to the union in 1912, New Mexico has, for centuries, been home to the native Navajo, Pueblo, and Apache people. With the fourth-largest native population in the United States, New Mexico continues to be an important center of Native American culture. This culture, along with New Mexico’s stunning natural beauty, are the two of the main drivers of one the state’s biggest industries – tourism.

Along with tourism, New Mexico has a rich deposit of fossil fuel and natural gas, and is home to multiple military bases. In fact, federal spending is one of the biggest sources of revenue for New Mexico. The government of New Mexico is always looking for ways to help small businesses grow, and there are loads of tax incentives available to entrepreneurs in the state! But what does it take to start a small business there? How do you form an LLC or incorporate in New Mexico? And are there any special rules you should be aware of?Incorporate in New Mexico

What is needed to start your small business in New Mexico?

Anyone that does business in New Mexico has to register with the New Mexico Taxation and Revenue Department, and be issued a CRS Identification number. Your CRS number is used to collect and pay tax on gross receipts. In addition to registering, all new small businesses should apply for a ‘Doing Business As’ name with the Secretary of State’s office so that they can advertise, collect checks, and open a bank account under their business’s name. If you’d like, we are happy to run a free DBA name search on your behalf!

Continue reading

Share!!!

Business Basics: Corporate Seals

Corporate seals are a remnant of the middle ages, back when official documents were legitimized by a hot wax imprint of a seal or crest. The practice of ‘sealing’ documents kept on throughout the centuries, though the hot-wax method eventually gave way to rubber stamps and paper seals. Today, corporate law still allows for the use of corporate seals, though they are no longer as important as they once were. This week in business basics we answer a few of the most commonly questions we receive about corporate seals, and let you know if you should get one for your own corporation. Corporate Seal

What is a corporate seal?

A corporate seal is essentially a signature for your business. When you incorporate, you turn your business into its own, legal entity. Since a corporation cannot sign anything, a corporate seal is used to mark legal and official documentation. These days, most corporate seals are either rubber stamps or steel embossers, and are normally designed to fall apart if tampered with to help avoid fraud.

Do I need a corporate seal?

Continue reading

Share!!!

50 States of Incorporation: New Hampshire

incorporate in New HampshireWe are “The Granite State” bound this week in our 50 states of incorporation series on New Hampshire! For those looking to form an LLC or incorporate in New Hampshire, Thumbtack.com has nothing but rave reviews on the state – it nabs an A+ in overall friendliness, ease of starting a business and hiring, health and safety, and tax code.

Infamous for being the birthplace of the Free State Project (which works to educate people on the advantages that come with living in the state) as well as internationally for the New Hampshire Primary in the election cycle, New Hampshire ranks as #31 on Forbes Best States for Business list.

Why so middle ground based for a state giving flying colors to do business in? New Hampshire holds a low unemployment rate, but also suffers from expensive energy and labor costs. As far as taxes go, New Hampshire has no sales tax or income tax reported on an individual’s reported W-2 wages. However, the state does have a controversial property tax, which according to former state senator Jackie Cilley, was noted in 2012 as having the third-highest property taxes in the nation.

Continue reading

Share!!!

50 States of Incorporation: Nevada

Nevada was born from the discovery of a major silver mine, and its reputation as a state where you can make it rich, and quick, has been well-earned. Home to Las Vegas, Nevada is known for being a place to gamble, and tourism remains its number-one industry. Of course, there is so much more to the ‘Silver State’ than the Las Vegas Strip. Nevada is still home to some of the most active precious-metal mines, and is a major ranching state.

Incorporate in Nevada

The State Seal of Nevada

Nevada also has a reputation as being a tax haven – the Tax Foundation ranked Nevada as having the third most-business friendly tax laws of all fifty states. Naturally, we receive plenty of questions on how to take advantage of that lax-tax law. If you are considering whether you should incorporate in Nevada, take the following into consideration:

  • A few forms are all you need to form a limited liability company or incorporate in Nevada. To help expedite the process, Nevada’s Secretary of State has set up ‘The Silver Flume‘ – an online business portal that allows entrepreneurs to register their business and set up a new business entity. The filing fee for corporations can fluctuate from the minimum of $75 depending on how many shares the corporation will be authorized to issue.

Continue reading

Share!!!

Business Basics: How to Start a Non-Profit Corporation

We have written on non-profit corporations before, but as we only dedicated a sliver of a paragraph to how you actually form a non-profit, we felt the topic was worth revisiting. A non-profit corporation is a great way to fulfill a philanthropic pursuit, and if you are looking at dedicating your life to charity, then running a non-profit may be right up your alley. Forming a non-profit corporation is actually very similar to forming a regular corporation.

Non-Profit

Step 1. Find a business name

Your non-profit is going to need a name just like with any other standard corporation. That name needs to be unique and, typically, has to include the a designator like ‘Corporation’ or ‘Incorporated,’ though not all states require that.

Step 2. File your Articles of Incorporation

After you’ve confirmed that your corporate name is available, you have to actually form the corporation by filing what is normally known as your Articles of Incorporation. The forms usually aren’t too complicated, and normally just ask for the names and addresses of the corporation, its registered agent, and its directors, as well as the corporation’s purpose for existing.

Continue reading

Share!!!