A corporation is an entity that has shareholders and is controlled by bylaws. A corporation is started by the filing of an article of incorporation with the Maine Secretary of State. After we have helped with filing all of the necessary papers with the State, we will assist you by preparing bylaws to control your corporation. These are written rules of the organization that cover everything from voting to election of officers. A separate shareholder agreement may control the manner in which the shareholders interact as well. We will also draft initial meeting minutes electing officers such as a president, vice president, treasurer, and clerk. We will help you pass a resolution to authorizing the opening of bank accounts and taking on of debts, as well as take other steps necessary for your business to succeed. After we have helped you establish a corporation, and if you select us as your registered agent, we will ensure that an annual report, which is required by the State, is filed with the State each year.
Corporations offer a variety of advantages and come in several forms. They are taxed differently depending on the form of the corporation and the tax election taken (i.e., C. Corp, S. Corp.). Moreover, corporations, if done properly and operated according to the law, will provide you with limited liability as a shareholder or officer.
Call us today for help getting your business corporation started whether it is a non-profit or a for profit business.