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Saturday, November 25, 2006

The Incorporation Process

As I mentioned in previous articles, after an election there is always a rush of talent to the private sector, and much of that talent will start their own business. Starting a business can be a complicated process. There are laws and tax issues to consider. You'll also need someone to help you to incorporate, which is a legal process that basically lets the government know your business exists.

IncParadise.com is a company that helps people to incorporate in all 50 states. They have things like approved Articles of Incorporation and name checking services - you can't incorporate a business with the same name as a similar business - and these tools will make the process much easier for you.

IncParadise also has forms that you'll find are essential to any newly incorporated business, such as bylaws and minutes of meetings, along with templates for stock certificates. The fee differs by state, as each state has different filing fees.

If you have the freedom to choose which state to incorporate with - and I know many campaign staffers do because their home has been on the road for a very long time - IncParadise even tells you which states are best for your needs. For instance, some states have lower taxes, while others may offer a superb location for a more "local" business. If you're running a website, location may not be that important to you, so you might avoid a state if that's the main benefit.

You should not be incorporating your business on your own, unless you have a lot of experience doing it. Go to the pros at IncParadise and avoid the mistakes that your competitors will make, giving you the early edge in a competitive market.


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