How to form a C-corporation for Travel and Lodging

Introduction

If you want to start your own business, starting a C Corporation can be a great way to do so. In this post, we’ll walk you through the steps of incorporating your company.

Find Out If You Need to File Articles of Incorporation

If you want to set up a corporation, then you will need to file articles of incorporation. There are two different types of corporations: C-corporations and S-corporations. A C-corporation is taxed as a separate entity from its owners, while an S-corporation is taxed as part of the owner’s personal income. However, if your business is not yet generating substantial profits or if you don’t have much money to invest in the company at this time, it may be better for you to start out with an LLC (limited liability Company) instead of a C-corp until your business grows substantially and makes more profit every year.

Choose a Corporate Name

• Do not use the same name as other companies in your industry. This will make it harder for customers to find your business online and may lead them to believe that there is only one company offering services in that area of expertise.
• Make sure the name you choose is available as a domain name.  If someone else has taken it, try out some variations before giving up completely on any particular idea.
• Use the same name across all social media accounts and advertisements you have created so far (if any). This helps people recognize whom they’re dealing with when they see posts from past clients using similar wording or imagery; it also makes things easier if one day someone decides they want to start advertising more aggressively than others do!

File Articles of Incorporation in Your State of Residence

In order to form a corporation, you will have to file articles of incorporation with the secretary of state in your state of residence. The articles of incorporation contain a number of items including:

• Name of corporation
• Purpose of corporation
• Number and type of shares issued (usually one class)
• Corporate officers (president, vice president, secretary, and treasurer). These individuals are responsible for administering the business affairs of the company.
• Corporate seal

Adopt Corporate Bylaws

Corporate bylaws are the internal rules of a corporation. They establish how the board of directors will operate and how decisions will be made within the organization.

The bylaws must be adopted by the board of directors, who have sole authority to adopt them at any time. The adoption should be recorded in the minutes of the meeting where it was adopted. If a corporation has no minutes yet, then you should create a record of this action immediately after adopting your corporate bylaws since it may have legal implications if you later decide to dissolve or wind up your business.

Hold Your First Board of Directors Meeting

• Establish a Corporate Bank Account, and Open a Corporate Credit Card Account
• Obtain a Federal Tax ID Number

Issue Stock and Make Capital Contributions

You can issue stock to shareholders by signing the certificate of incorporation and having it notarized. Once you’ve formed your corporation and issued shares of stock with the secretary of state, you’ll need to transfer ownership of those shares among shareholders. This is similar to how people transfer property deeds in real estate transactions: You get a document from one party transferring ownership to another party. The document should be signed by both parties—the seller and buyer in this case—and witnessed by two other individuals who subscribe their names (signatures) of their own free will without being required or coerced into doing so by either party involved in a said transaction occurring between said people named above mentioned.

Get an (EIN) From the IRS

An EIN is a number assigned by the IRS to a business entity. It’s used as an identifier for tax purposes, helping you avoid having your business confused with other companies in the system.

In order to start a C corporation, you must first incorporate your business

• A C corporation is a corporate entity that has been incorporated by filing articles of incorporation with the state.
• When you form a company, you have to create it as a separate entity, distinct from yourself and other managers. You’ll need an attorney to help you file the necessary paperwork and establish your business legally as an LLC or corporation.
• Once formed, the company will operate separately from its owners and make its own decisions without needing their approval every step of the way—like if they want to take out a loan or hire someone new on staff, for example. This means that even though it’s owned by one person (you), multiple people could manage day-to-day operations without needing approval from everyone else involved in running things day-to-day.

Conclusion

In this article, we’ve talked about how to form a C-corporation for travel and lodging. This is a great option if you want to keep your personal assets separate from your business and want more flexibility with who can own shares in your company. The process can seem daunting at first, but with some guidance from an expert like us here at Trademark Avenue, it should be easy!