Advertise your business on TGF.
By Daniel Jameson
Company formation is a process of incorporation your business under the government law. It is some times refer as business registration.
You can register your business with these following steps-
Gives your company an attractive title
Want to gain fame then first give your company the suitable and appealing name. It should be unique and reflects the motive and services of your company. For this, go through the list of existing names of the business of the same field in the state. The company's name and trademark should not match with any of the current company. A good sign attracts the customers and investors and provides a direct support in the business growth.
Get a registered agent for your company
If you are planning to start a company in a new state then it is necessary to get a registered agent, who would collect your legal and tax documents. It can be a company or an individual having a physical address in the state and available in the working hours of the business days.
Article of Incorporation
Finally to create a corporation, one has to file "Article of Incorporation" to get it approved by the secretary of the state. In case to start an LLC, these documents are called "Article of Organization".
Providing name and addresses of the people/companies involved
The officers, directors and other members form a company. It is mandatory to give name and proof of address of each member who is the part of an organization.
Federal Employer Identification Number
The US Internal Revenue Service issues an identification number for companies known as Federal Employer Identification Number (FEIN) also called EIN once the company gets registered. This number is necessary to open the bank account in the state.
The actual work starts after receiving authorization for incorporation.
By Daniel Jameson
A seller’s permit is a state license that allows you to sell items at the wholesale or retail level and to issue resale certificates to suppliers. A seller's permit allows a state to identify a business as a collector of sales tax.
When you sell or lease merchandise, vehicles, or other tangible personal property in your state, even temporarily, you are generally required to register with the State, and to pay sales tax on your taxable sales. Sometimes people incorrectly refer to a seller’s permit as a resale number or resale permit. Seller permits may also be referred to as a resale permit, resell permit, permit license, reseller permit, reseller number, resale ID, state tax ID number, or reseller license permit.
As seller’s permits are issued by the state tax department, by applying for a seller’s permit you may be responsible for tax assessments from the state based on your taxable sales or projected taxable sales. It is your responsibility to file tax returns and pay assessed taxes.
By Daniel Jameson
You can apply for Employer Identification Number now through online from. It is one of its kind companies that offer online business services to apply and get your Employer Identification Number. It means getting EIN is now at your fingertips. You only have to get online, fill the easy form or contact company executives and you can have your number at the quickest possible time. No fuss and no hidden costs, you only have to pay minimum fees and company experts would take care of the rest.
Suggest for more ideas.
By Daniel Jameson
Thinking of dedicating life by doing good deeds and incorporating a non-profit organization, then here are the few tips for a great beginning:
Do some homework: Give a good amount of time to your idea, mission, and vision.
Analyze the objective of your Non-profit organization: Consider the main objective of your organization that is to be mentioned in federal form 1023 application for tax-exemption status and future fundraising. Make sure that no other organization is serving the same purpose. Check the availability of resources: Make a list of resources available like funds, office spaces, supplies, infrastructure. Set a deadline: Investigate the time that will be utilized to attain the goal. Build a solid foundation:
Draft your mission statement: Develop a mission statement mentioning the name of the organization by exploring non-profit engines, a purpose of the organization, its services (what and how). Write a business plan: A business plan helps to describe the purpose of the mission in more specific details. • Develop a board: Employ the members of the board for an organization by giving orientation, training, evaluation, and the cultivation. This will help to achieve a long-term success.
Registration of Nonprofit Organization
Once the actions outlined above have been established, then the organization is ready to apply for registration. Like a for-profit corporation, a nonprofit incorporation also needs to submit "Article of Incorporation" to the Secretary of the State. The national council of nonprofits does not provide legal advice, therefore, consultation with local legal counsel or taking help of online services available for incorporation is necessary to ensure that the process of registration is on the right track.
Some steps for registration of nonprofit incorporation are
• Providing an intended name of the corporation to make sure that no other nonprofit organization is running under the same name. • File "Article of Incorporation" with some information like Certificate of Disclosure, proof of corporate name, filing fees and other documents mentioned in the state laws of incorporation.
• Filing for Employer Index Number (EIN). To obtain this one has to fill a Form SS-4 that will provide EIN to the organization. It is needed for IRS, banking, hiring staff etc.
File for 501(c)(3) Tax Exempt Status
On getting an approval for incorporation there comes the next step of filing for federal 501(c)(3) tax-exempt status. To file for it there is a need to include the following list of documents:
• Certified copy of the certificate of formation from your state.
• Copy of bylaws
• Detailed pro forma financial statements, including revenue and expense statement for current and three preceding fiscal years.
• Proposal budgets for the next two fiscal years; including a list of anticipated financial support.
• A brief description of past, present, and future planned activities with an emphasis on the broad public benefit of the organization's activities.
• Name and addresses of director and officers
• Annual accounting period
• Statement as to whether the org is claiming status as a private foundation or the public charity.
• Employer Index Number
• The fees for filing
• Final registration for Charitable Solicitation and Fundraising
On receiving a determination letter from the IRS, the actual work begins. The state demands additional filing work to recognize an organization as tax-exempt. There is a need to check all the filing requirements and review of the IRS resources at StayExempt.org that will provide the information for maintaining a tax-exempt status. Besides, there is also need to submit an annual report to the state government, form 990 information return with the IRS or any other similar form required by the state.
EZIncorporate can make it possible to incorporate a Nonprofit Organization by providing the forms necessary for its registration and to obtain tax-exempt 501(c)(3) status with the IRS.