A primary purpose of a properly formed corporation is to protect you from individual liability related to your business activities. Our office performs thorough and detailed work to assist you in achieving this standard. Our goals:
- To make sure your corporation is properly formed pursuant to the statutory requirements.
- To clarify the business relationships between shareholders to avoid further disputes.
- To assist you in developing a working knowledge of how to maintain your corporation in the future.
Our work includes:
1. Initial Consultation. We have an initial consultation to discuss the mechanics of forming a corporation. Ideally, you have already met with your CPA who recommended that creating a corporation would benefit you from a tax perspective.
2. Corporate Information Sheet. Once you retain us, we’ll send you a corporate information sheet to find out some basic information about your business set up. We’ll answer any questions you may have about this.
3. Initial Documents to Sign. We will prepare the Articles of Incorporation and Consent to Serve as Registered Agent for your signature. (A registered agent is someone who accepts service of process on the corporation’s behalf.). This steps also involves the approval of the incorporators.
4. Secretary of State Filing. Your Articles of Incorporation and Consent to Serve as Registered Agent are filed with the Washington Secretary of State’s office.
5. Receipt of Confirmation from Secretary of State’s office. Our office will confirm that your corporation has been formed. Then you should work with your accountant in obtaining a federal tax identification number for your corporation.
6. Instructions and Answers. We will give you a very detailed letter of instruction that explains the mechanics of operating your new corporation. We will also be happy to answer any questions you may have, and to help in any way.
7. Follow Up Corporate Documents. We will work with you to develop Bylaws, Oath of Directors, Stock Certificates (if desired), Stock Receipts, Stock Journal and a Stock Subscription List, as well as documents related to your first meetings of shareholders and Board of Directors. We will also work with you to develop a Buy Sell Agreement if needed.
8. Meeting. We will conduct an initial meeting of the corporate shareholders and Board of Directors, either in person or by resolution.
9. Corporate Minute Book. We will set up your corporate minute book and mail it to you.
As part of our process, we will:
- Discuss the corporate formation process and the nature and goals of your business with you.
- Communicate with your CPA about whether your corporation is a C-corporation or S-corporation, the number of shares that each shareholder should be issued, and the initial capital contribution of each shareholder.
- Communicate with you regarding corporate officers, directors and shareholders.
- Communicate with you about your corporate bank account.
- Discuss all follow up corporate documents with you as needed to ensure your knowledge and understanding of the process.
- Work with you, as needed, to develop a Buy Sell Agreement to protect corporate shares from being improperly sold or distributed to third parties.
- Be available to answer all questions, provide on-going representation to conduct annual corporate meetings as required by Washington law, and work to meet the other legal needs of your business.
Any questions? Please contact Stacey’s office at email@example.com.
This overview provides general information and not legal advice or opinions on specific facts.