Forming a new corporation requires some careful planning and a number of key steps. Here is a checklist of some of the important issues to address.
1. Choose a corporate name.
2. Decide in what state to incorporate.
3. Start preparing the incorporation documents.
4. File the Certificate of Incorporation with the Secretary of State.
5. Determine the right capitalization for the corporation.
6. Issue stock to the shareholders and comply with securities laws.
7. If you have more than one shareholder, think about whether you should have a Shareholder Agreement or Buy-Sell Agreement.
8. Make sure you have a Corporate Minute Book.
9. Elect the Officers and Directors of the Corporation.
10. Obtain your state and Federal Tax ID number.
11. Determine if you need any special licenses for your business.
12. Set up a corporate bank account.
13. If you are going to hire employees, make sure that you have all the proper forms and agreements for them.
14. Decide if you should elect to be an S corporation.