○ State Filing Fee
○ Corporate Initial Report
○ Registered Agent
○ Employer Identification Number
○ Bylaws & Minutes of Initial Meetings
○ Certified copy of Articles of Incorporation
○ Complete Publication Package*
*Obligatory for every domestic corporation to publish a legal notice of its formation)
The entire filing process takes on average 15 to 21 business days, however the State offers expedited filing
of 3-5 business days with additional fee of US$100.
RockVentures is able to assist you with setting the up of a variety of companies in US, Georgia. Below is a compressed version of the types of business entities in the United States, for more information contact us here.
Good to Know
○ Business owned and controlled exclusively by one person.
○ This person is responsible for the business/firm, including all liability and any profit or loss.
○ There is no limit to the owner’s liability for the firm’s obligations.
– Inexpensive to form and Easy to dissolve
– Generally have no tax aspects
– Virtually no formalities to be observed except basic bookkeeping
○ It is an association of two or more persons to carry on, as co-owners, a business for profit.
○ These individuals are responsible for the business, including all liability and any profit or loss.
○ Required to file returns to the government to report the profits and losses
○ Liability of partners is joint and several and any particular partner can be made to pay the entire debts of the partnership.
– Relatively inexpensive to form
– Each partner has joint and several liability to the partnership.
– Taxation is a bit complex, but the partnership itself pays no taxes
○ A rather new classification that is now allowed in most states.
○ This type of organization provides a flexible structure to meet various needs.
– LLC’s are extremely flexible, and can be used for a very wide range of businesses.
– LLC’s can be as simple or complex as the member’s desire.
– Can elect to be taxed either as corporations, or as partners (if they have two or more members)
or be disregarded for tax purposes like a sole proprietorship.
– S corporation (S corp)
– C corporation (C corp)
○ A business corporation is a legal entity established by individual(s) under the laws of a state to conduct particular
types of business or transactions.
○ The owner becomes a shareholder and has the option to sell the business if things don’t work out for continued ownership.
○ The negative piece of this option is that it is more expensive than the others and takes a bit more time.
○ It is subject to much more compliances as compared to a Sole Proprietorship or Partnership or Limited Liability Company.
– Centralization of Management
– The corporation exists separately from its shareholders, directors and employees.
– A corporation is a ‘person’ in the eyes of the law. A corporation functions in the same manner as a person
and has the same rights and responsibilities as a person.
– The corporation may make contracts, assume liabilities, sue and be sued.
– The corporation and its shareholders and directors have specific duties and obligations to each other.
– Liability of shareholders is limited to the amount of shares held by them. (Shareholders can transfer ownership interests)
– Continuity until dissolved according to law.