An incorporated business is one that the government recognizes as a separate legal entity. A business is incorporated when someone files legal paperwork with the state and creates a business entity. What’s more, incorporating a business creates a legal distinction between the business and the business owner.
Thus, the definition of incorporated business is a business that’s separate from its owners. Incorporating your business helps shield your personal assets and makes it easier to manage the business’s finances.
Wondering whether you should incorporate your small business? Here are some things to consider before taking the plunge.
Incorporated business benefits might include:
With these in mind, incorporating your business may help propel your business to the next level.
The disadvantages of incorporating a business revolve around having to do more paperwork and tax status:
Talk to an accountant to see how incorporating may impact the amount of money you pay in taxes each year.
Leave the paperwork with us. Luckily, our annual report service helps you stay on top of your filing requirements. We send you important reminders and help you stay compliant.
Another way to refer to an incorporated business is by the type of its legal business entity (e.g., LLC, S Corp). Let’s talk about examples of incorporated business types.
What are incorporated businesses? Examples of businesses that fall under the incorporated business definition include:
Incorporating your business means that you put up a shield between the business and your assets.
Wondering which type of incorporated business is right for you? We can help.
Incorporating your business is an important decision and can help take your business to the next level. Typically, incorporating your business is a good idea if:
If you would like to form an LLC or a corporation, we can help. With our streamlined business formation service, it can take mere minutes to prepare and file your paperwork. All you need to do is answer a few questions, select the appropriate service, and pay the modest fee (plus the state filing fee). More than 500,000 businesses have used our services to help set their business up for success. We’d love to be part of your success story, too.
What are the steps to incorporate your business? Look no further. Here are the basic steps to incorporating your business:
Feeling dizzy just thinking about all those steps? Take a deep breath and keep reading to find out how we can help simplify your day.
Creating and running a business is busy work. Luckily, we formed our business with people like you in mind. Save time and money by taking advantage of our business services and our template library. We’ve made it our job to be your paperwork people so that you do what you started your business to do (and take a few breaks).
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Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.