A corporation is a creature of statute. That means there are certain things that must be done to be, and stay, a corporation. It is formed by filing Articles of Incorporation with the North Carolina Secretary of State. There are fees for filing, set by the statute, which are amended from time to time. Mailing your Articles of Incorporation does not make you a corporation at that time. Unless and until it is filed with the Secretary of State, the corporation has no authority to act. It is not officially formed until filed with the Secretary of State. Accordingly, you should not do any business as a corporation until your articles are filed with the Secretary of State. The Secretary of State can take as long as two to four weeks to file your corporation. You can pay an additional fee to expedite the filing, which is set forth by the Secretary of State.
The corporate name must also be sufficiently different from other corporate names as to properly identify the corporation. The availability of a corporate name can be checked on the North Carolina Secretary of State’s website. A corporate name must end with “company”, “corporation”, “incorporated”, “limited”, “co.”, “corp.”, “inc.”, or “ltd.” All corporations in North Carolina must have a registered office and a registered agent. The registered office must be located within this state and the registered agent must be a resident of this state. At least one person must sign the articles as the incorporator. The incorporator can be, but does not need to be, the same as the registered agent.
By-laws should be adopted by the corporation after incorporation. These by-laws govern how the corporation is to be operated.
Corporations can elect to file as a regular C-corporation or, if you meet the requirements, as a Subchapter S “Small Business” corporation. An election must be made within a certain period of time after the articles are filed to claim Subchapter S status. This must be filed with the Internal Revenue Service. Each election has different consequences as to how the corporation or shareholders are taxed
Once you are formed as a corporation, you must file an annual report with the Secretary of State and pay a fee for the annual report. Additionally, as a corporation, you must keep annual minutes with your corporate books in order to maintain your corporate status. Corporations and limited liability companies, as well as limited partnerships, are effective ways to limit liability. A Monroe, NC business attorney can help you ensure your corporation is set up correctly.
With over 110 years of combined legal experience, you can trust your case with us.
Business LawView details
A business requires legal representation from beginning to end. A smart business owner realizes the significance of realistic and educated experience when dealing with every aspect of business law.
Civil LitigationView details
Our North Carolina civil litigation attorneys are strong and effective advocates for our clients. We have deep experience handling complex civil matters - representing individuals, families, companies, property owners, and other entities.
Family LawView details
Instead of hiring someone who does family law on the side, look for an attorney with substantial experience in this area. To help you identify whether we are the right lawyer for you...
Personal Injury / Wrongful DeathView details
Personal Injury / Wrongful Death
When you or a loved one are injured or a loved one is killed due to the negligence of another individual, you may be facing tremendous financial burdens due to medical costs, lost wages, and other expenses.
Social Security DisabilityView details
Social Security Disability
If you are unable to work because of a physical or mental impairment, you may be entitled to receive social security disability benefits. The process of obtaining social security disability benefits can be complex, time consuming and frustrating...
Estate PlanningView details
The last will and testament is one of the most important documents in estate planning. A will allows the person making the will (the testator) to name recipients of his or her property, to explain how property...
Probate and Estate AdministrationView details
Probate and Estate Administration
When a loved one passes away, their assets and debts must be dealt with according to law. The person who handles the Estate Administration (an administrator if the deceased died without a will...
Criminal LawView details
Anytime a person has been charged with a crime, it is a stressful situation. The criminal defense attorneys at Perry, Bundy, Plyler & Long, L.L.P. will provide counsel during this stressful time...
Traffic TicketsView details
Your first instinct might be to quickly pay the ticket and suffer the points added to your driving record. After all, traffic ticket lawyers charge for their services, and you may think it’ll cost more to hire one to fight your ticket than to simply admit guilt.
Real EstateView details
When involved in a real estate transaction, such as buying, selling or renting property, it is vital to have a thorough understanding of your rights and obligations, which can avoid any future problems...