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As an INC 500 Company, we have incorporated in excess of 150,000 clients. Based on our extensive experience, and the feedback we have received from our clientele, we have compiled an extensive list of the most frequently asked questions. Simply click on any of the links below to obtain answers to your questions.
 
If you have further questions, or if you would like to place your order over the phone, call us at 1-800-ITS-TIME. Additionally, if you wish to place an order online please see our online incorporation form or our online LLC formation form, respectively.
 
     
 What is a Corporation?  What is a Limited Liability Company?  C Corporations Compared to S Corporations
 What are the advantages of a corporation?  What are the benefits of a LLC?  S Corporations Compared to LLC's
 Do I need an attorney to incorporate?  What is the organizational structure of a LLC?  C Corporations Compared to LLC's
 Naming the Corporation  Naming the LLC  
 What are the advantages of a S corporation?  What is a LLC kit?
 What is a corporate kit?  What is a registered agent?  What is your low fee policy?
 How do I file for my Corporation?  How do I file for my Limited Liability Company?  What is the best state to form my Entity in?
     What services does IncorporateTime provide for  me in a formation of my Enity?
     
     
The corporation is a separate and distinct legal entity apart from the owners of the business. A corporation can own property, enter into contracts, and conduct business under its own name.
 
 
 
A Corporation is a separate legal entity with its own identity separate and apart from its shareholders (owners). As a separate legal entity, a corporation is responsible for its own debts. Normally, shareholders, directors, and officers are not responsible for corporate liabilities. If the corporation suffers losses, the corporation itself must bear those losses to the extent of its own resources, and not the personal assets of the individual shareholders. Thus, the corporation protects the owner of a business against personal liability.
 
Other advantages include:
 
  • Sale of stock for the purposes of raising capital is often more attractive to investors than other forms of equity.
  • A corporation can continue to exist after the death of its founders Stock may be transferred so that owners can distribute their interest in the corporation without the corporation dissolving.
  • Corporations have many tax options available, including setting up pension, profit sharing, and stock option plans.
 
 
 
While you may consult with an attorney to form your corporation, it is not necessary. We will do all the work necessary to form your new corporation. Simply fill out our online order form, or call 1-800-ITS-TIME and speak to a representative and leave the rest to us and save money on attorney’s fees.
 
 
 
The owner can chose any name for your corporation that you prefer, however, the name must not be the name of an existing corporation, i.e., the name must be distinguishable. As part of our service, we will perform the preliminary name check for you.

Additionally, "Inc", "Co", "Incorporati on", "Corporation", "Company", "Limited", or "LTD" must follow the corporate name.

 
 
 
An S corporation is the election of a special tax designation which must be applied for and granted by the IRS to corporations that have already been formed. This election, in general allows for the income of the S corporation to be taxed to the shareholder of the corporation as opposed to the corporation per se. Our online order form allows you to choose this option.
 
The primary advantage of an S corporation is the avoidance of double taxation. That is, the avoidance of payment of income tax on corporate net income, and then the payment of a further tax on the dividend income that is derived from the corporation.
 
Thus, an S corporation allows certain income, deductions, and losses to be passed through the S corporation to the individual tax return of each shareholder.
 
 
 
The corporate kit includes a professional customized binder with your corporate name and a matching slip case, custom corporate seal, 20 custom stock certificates with your corporate name, stock transfer ledger, sample minutes of organizational meetings and sample bylaws. In most states, the corporate seal is frequently required to open a corporate bank account.
 
 
 
IncorporateTime.com will file and execute all the necessary paper work and documentation to file your corporation. Simply utilize our online order form or call 1-800-ITS-TIME to place your order over the phone.
 
 
 
An LLC or a Limited Liability Company is a separate legal entity (business structure) from the owners of the LLC. An owner of an LLC is frequently referred to as member.
 
An LLC is frequently referred to as a hybrid of a corporation and a partnership. The members of a limited liability company are shielded from personal liability and profits and losses may pass directly to the members without taxation of the LLC itself.
 
 
 
As mentioned above, an LLC offers primarily two benefits. First and foremost, an LLC provides the members protection from personal liability. Additionally, an LLC provides certain tax benefits. That is, an LLC allows for pass through taxation.
 
An LLC is similar to a corporation because it has a) limited liability; b) free transferability c) continuity; d) centralized management.
 
The taxation of a limited liability company is comparable to an S corporation. However, unlike an S corporation an LLC can have an unlimited number of shareholders or "members" as they are known in an LLC. Additionally, there are no restrictions on who is a shareholder as there may be with an S corporation.
 
Thus, an LLC is similar to a corporation because it allows for protection from personal liability and simultaneously it is similar to a partnership because it allows for pass through taxation. Therefore, an LLC is commonly referred to as "hybrid corporation/partnership".
 
 
 
The company may be directed by the members, or members may designate a manager. If management is by the members then each member is a manager of the company.
 
 
 
The owner can chose any name for your LLC that you prefer, however, the name must not be the name of an existing LLC, i.e., the name must be distinguishable. As part of our service, we will perform the preliminary name check for you.
 
 
 
The LLC kit includes a professional customized binder with your LLC name and a matching slip case, custom LLC seal, 20 custom membership certificates with your LLC's name, sample operating agreement and transfer ledger. In several states, the seal is necessary to open a bank account under the LLC.
 
 
 
Most states require a registered agent. A registered agent is responsible for receiving any legal documentation on behalf of the corporation.
 
Quite frequently, YOU can act as your own registered agent as long as your address is within the state that you are incorporating in.
 
There are other services that will charge you a service fee for not choosing them as a registered agent.
 
Not us!!
 
As a matter of fact, we encourage you to act as your own agent and, of course, there is no charge. 
 
However, if registered agent services are required, we are able to assist in any state (as we frequently do in Nevada and Delaware for out of state residents).
 
Simply call 1-800-ITS-TIME to inquire.
 
 
 
 
 
IncorporateTime.com will file and execute all the necessary paper work and documentation to file your LLC. Simply utilize our online order form or call 1-800-ITS-TIME to place your order over the phone. 
 
 
 
 
Below is a comparison of C Corporations and S Corporations:  
 
 
C Corporation: S Corporation:
  • Potential double taxation at the corporate level
    and the shareholder level. That is, the corporation is first subject to tax at the corporate level, and then any profits (or dividends) the corporation distributes to the shareholders are subject to tax as well.
  • S Election avoids double taxation as it is treated as a pass-through entity. That is, in an S corporation the profit or losses pass through the entity directly to the ownership (shareholders) level. In sum, the S Corporation avoids double taxation as it is only taxed once, i.e., at the shareholder level.
 
  • Unlimited number of shareholders.
  • Limited Number of Shareholders: 75
 
  • Shareholder can be a foreign citizen.
  • Must be a US Citizen
 
  • Both a Corporation and an S Corporation are separate legal entities that offer the same liability protection
    for their owners.
 
  • In essence, an S Corporation is a C Corporation that elects the sub s election tax status. As explained above, the S election avoids double taxation that is common to C Corporations. We can file your entity as an S corporation, simply check the S election option at the end on our incorporation order form at: https://www.incorporatetime.com/OrderINC.htm
 
 
 
Below is a comparison of S Corporations & LLC's:
   
S Corporation:
LLC:
  • Separate legal entity that offers liability protection for it's stockholders, i.e., shareholders of an S Corporation are generally not liable for the obligations of the business.
  • Separate legal entitity that offers liability protection for it's members, i.e., owners of a limited liability company are generally not liable for the obligations of the business
  • Limited Number of Shareholders: 75
  • Allows for an unlimited number of members.
  • Must be a US Citizen
  • Member can be a foreign citizen
  • S election avoids double taxation as it is treated as a pass-through entity. That is, in an S corporation the profit or losses pass through the entity directly to the ownership (shareholders) level. In sum, the S Corporation avoids double taxation as it is only taxed once, i.e., at the shareholder level.
  • An LLC is treated as a pass-through tax entity. That is, in an LLC the profit or losses pass through the entity directly to the ownership (member) level, avoiding double taxation.
  • An S corporation must hold annual shareholder meetings. In addition, a corporation must keep written corporate meeting minutes.
  • An LLC has less corporate formalities, i.e., members of an LLC are not required to hold annual meetings.
 
 
 
Below is a comparison of C Corporations & LLC's:
   
C Corporation:
LLC:
  • Separate legal entity that offers liability protection for it's stockholders, i.e., owners of a C Corporation are generally not liable for the obligations of the business.
  • Separate legal entitity that offers liability protection for it's members, i.e., owners of a limited liability company are generally not liable for the obligations of the business.

   
  • Allows for an unlimited number of shareholders.
  • Allows for an unlimited number of members.
   
  • Shareholder can be a foreign citizen
  • Member can be a foreign citizen
   
  • Potential double taxation at the corporate level and the shareholder level. That is, the corporation is first subject to tax at the corporate level, and then any profits (or dividends) the corporation distributes to the shareholders are subject to tax as well.
  • An LLC is treated as a pass-through tax entity. That is, in an LLC the profit or losses pass through the entity directly to the ownership (member) level, avoiding double taxation.
   
  • A corporation must hold annual shareholder meetings. In addition, a corporation must keep written corporate meeting minutes.
  • An LLC has less corporate formalities, i.e., members of an LLC are not required to hold annual meetings.
 
  • Incorporatetime.com prepares and files all the necessary documents to form your entity.
    If you wish to form a corporation or an limited liability company please see our online incorporation form or our online llc formation form, respectively.
 
IncorporateTime will file all the all the paperwork and documents necessary to form your entity. In addition, our low fee also includes name search and availability and a payment of the state filing fees.
 
 
 
We offer you the lowest possible price on the internet. If you find a lower total inclusive price please let us know and we will do
our very best to satisfy you.
 
 
 
You are free to form your entity in any of the 50 states. While we cannot give you legal advice, statistically most small businesses choose their home state. The primary reasons are for ease, convenience, and cost.
 
The savings of forming your entity in your home state are realized by the fact that you may serve as your own registered agent if you reside in the state that you are forming in. A registered agent is simply a person that is designated to receive
documentation (mail or service of process for example) on behalf of the entity. To reduce costs many of customers prefer to act as registered agent for the entity being formed. At Incorporatetime, we encourage you to act as your own agent and, of course, there is no charge.
 
 
 


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