I am getting into a new business and need to incorporate...?

Question

I understand there should be 3 people involved in the corporation. How do I go about creating the corporation? Go to a lawyer? Do you know the procedures for corporate creation? Thanks.

Answer 1

In most states, you do not need three people to incorporate. You can be the sole shareholder.

If you have an attorney already, ask him/her about the costs involved. If not, you can form a corporation online. Costs can be anywhere from $100 to $300.

Once you are incorporated, you will likely want to file papers with the IRS to be an S-Corp. (This gives you substantial tax benefits over a C-Corp.) If you don't already have a CPA, get one involved in the early stages of the process.

Good luck.