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Corporation

Incorporation -  Corporation


An  Corporation is a state created business and tax related legal person or entity. 

It is a person because it can sue and can be sued as a natural person.  
Thus, it is a separate person. 

If you are a member of an  Corporation, your personal assets are not at stake when your  Corporation is sued.  
Therefore, it is a favorable entity to form as opposed to forming a sole proprietoship.  

If you form an  Corporation, you will also need a business license and a federal tax id.  If you will sell taxable merchandise or you want to buy wholesale, you will also need a seller's permit. 

Note forming an  Corporation means that you will have to obtain an  Corporation state official certificate and have an operating  Corporation agreement as well.  

You cannot become an llc unless you register with the state and have the  Corporation certificate.  

Some people think that obtaining a federal tax id as an  Corporation is same as forming an  Corporation -  Not true!
 Corporation fee is $49 plus state fee.



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