How to form a C-corporation for Scientific Devices

How to form a C-corporation for Scientific Devices

Introduction

In order to form a C-corporation, you must follow specific steps as outlined by your state’s corporation division. When you have followed every step correctly and on time, you will receive official documents showing that your corporation was formed under the laws of your state.

Choose a business name

You’ll want to do some research before settling on the perfect moniker, however. Make sure that it’s not too similar to other companies, or else there could be legal trouble down the road. You can find out if a specific business name is in use by entering it into the online database of registered trademarks at [USPTO]. If your desired name does appear in this database as being owned by someone else, try coming up with something else—there are plenty of options available! You also need to make sure that your domain names haven’t already been taken.

Appoint a registered agent

The corporation must appoint a registered agent who is authorized to receive legal documents on behalf of your corporation. The person or company that you designate as the registered agent must be located in the state where your corporation was formed. Your designated registered agent should be able to provide you with copies of all legal filings, including annual reports and tax forms, as well as an address where these documents can be delivered. A lawyer, accountant, or business, the service provider may serve as your registered agent if they sign an Acceptance of Registered Agent form stating they will accept this responsibility.

File Articles of Incorporation with your state

The time period for filing varies by state, but it’s usually between 30 and 90 days after you’ve formed your business. In many cases, you’ll need to pay a small fee to file the documents with the secretary of state’s office or equivalent agency. In addition to filing with your state, it’s also important to remember that if you want to do business across state lines (or even internationally), some requirements may vary depending on where you plan on conducting business within that jurisdiction. For example, if all or most of your sales come from outside California but you’re doing all design work in California—and thus have no physical presence in any other states—you should still file as an out-of-state entity because this will allow investors who are buying shares in C Corp Scientific Devices Incorporated (its name) through different services.

Draft Corporate bylaws

You’ll need to create a set of corporate bylaws. These are internal rules that govern how the corporation will be run, including its purposes and powers. They can also include information on who may serve as corporate officers, how meetings should be conducted, and what types of amendments might be needed.

Bylaws are not required by law; they’re simply a way for your company to reflect its values and intent in writing.

Hold an initial meeting of shareholders and directors

At this meeting, the shareholders and directors should:

  • Elect officers. The shareholders will typically elect a president, secretary, and treasurer. Then each director should be assigned one or more specific duties within the company. For example, one director may work on marketing; another may be in charge of human resources, and yet another might oversee the company’s finances.
  • Adopt bylaws. These are rules that govern how your corporation is run on an ongoing basis—everything from how often you meet to what happens if someone quits their job with the company (or dies). You’ll want to make sure these policies match up with your corporate goals (for example, if you’re planning on issuing stock in the future), but otherwise, you can use templates provided by professional organizations.

Get an EIN from the IRS

An EIN (employer identification number) is a tax ID number, like your social security number. Every business in the U.S. must have one to legally operate. It’s similar to how you need a license to drive a car or get married, but it’s much more important than that! If your business doesn’t have an EIN, it can’t collect money from customers and vendors.

The IRS will issue you an EIN if you’re operating as a sole proprietorship or partnership—you’ll just need to submit Form SS-4 along with proof of ownership for the business entity (like a copy of the articles of incorporation). You can also apply for an EIN online. Once you receive your new EIN from the IRS, keep it somewhere safe so no one accidentally uses it for another purpose!

Conclusion

Choosing the right business entity is an important decision for any entrepreneur, and we hope we’ve given you some helpful information to consider. If you need more information about how to form a C-corporation or other types of companies, please contact us at our office or speak with your accountant.

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