Guide to Incorporating:
What does your ideal business look like? Are you looking to work with others or go it alone? Do you want to work out of an office or out of your house? And how are you going to make your business work?
Regardless of what you decide to do or how you go about doing it, there are certain steps everyone must take when forming a business in North Carolina. You'll have to decide on your ideal business entity, which may include choosing between:
A sole proprietorship;
A partnership (or limited liability partnership);
A corporation (such as a C-corporation or S-corporation);
A limited liability company (LLC); or
A charitable organization
This list is non-exhaustive but is meant to provide you with an understanding of the options you have when choosing a business structure. The business structure you choose will determine how you are taxed and what laws govern your business entity, among other things.
Corporate formation is an area of law littered with cookie cutter articles and by-laws, vying for your hard earned dollars while trying to provide you with a one-size-fits-all corporate formation structure. It is possible to form your business entity without the help of an attorney, but you should consider your consultation an investment - money well spent now to prevent money or time spent in the future when trying to amend your business structure or understand the language used in its creation.
The Corporations Division of the Secretary of State's Office sets out certain guidelines for creation of a business entity. While their website and documents do not provide legal advice, they may nonetheless be a helpful tool in helping you understand what is required for proper business formation.
For questions such as what sort of business entity fits best for you, or what responsibilities you have, please contact me.