Formation of Corporations
Connecticut Corporate Lawyers – Kocian Law Group
Forming a corporation requires attention to detail and a good team to manage any technical difficulties. Kocian Law Group offers a team of experienced, intelligent lawyers who will pave the way to your company’s development.
Though a group of people may run a corporation, the corporation itself counts as an independent legal entity. It can own property, have a bank account, and file suit in court. If a business venture fails or a corporation loses money, the corporation – not its creators or operators – is responsible for paying liabilities and debts.
Generally, there are two main types of corporations: “C” corporations and “S” corporations.
C corporations, named after Subchapter C of the tax code that governs them, may issue unlimited stock. The shareholders of a C corporation pay taxes on dividends they receive, and the corporation itself pays taxes.
C corporations are a common type of corporation, which gives this type of corporation a certain amount of prestige and credibility. They are also more likely to attract investors than other types of corporations.
S corporations, named after Subchapter S of the tax code, are similar to C corporations in some ways and different in others. For instance, in an S Corporations, only dividends paid to shareholders are taxed.
Understanding the differences between types of corporations can help you choose the best form to meet your business needs. The Kocian Law Group can help you differentiate between the forms and determine which will be the most compatible for your company goals.
Forming a Corporation
The first thing a new corporation needs is a name. The name must differ from any other corporation’s name, and it must include the words “corporation” “incorporated”, “company” or an abbreviation of one of these. Kocian Law Group will verify the uniqueness of your company’s name and ensure it meets all other legal requirements.
After the corporation is named, we will file Articles of Incorporation with the Secretary of State. Articles of Incorporation create the corporation as a legal entity. They typically include the following information:
- the corporation’s name
- the corporation’s address
- the registered agent’s name and address
- the directors’ names and addresses
Corporate Policies and Licenses
When you form a corporation, you want to make sure your company policies are legally binding when appropriate. Companies may have “terms and conditions,” or agreements made with customers in regard to payment, shipping, and other concerns. Kocian Law Group can help you select appropriate conditions for your company.
In addition to legally enforceable policies, be sure to get the appropriate licenses for running your business. Kocian Law Group can help you determine what specific licenses or certifications you may need to be in accordance with the law. We will also file all the necessary paperwork for you, and assist you in maintaining your proper certifications in the years to come.