Legalzoom can form your C-corp affordably and quickly. While many new startup businesses choose to form an LLC instead of a Corporation, there are situations in which a Corporation is the best business structure entity choice. If you plan to get venture capital or take our company public incorporate your business.
If you are unsure, read LLC vs. Corporations – Which are Best?
Setting up a C-corp can be complex because each state has its particular steps for forming a new corporation. There are plenty of laws, paperwork, and fees to pay – plus records and reports to submit annually. Legalzoom takes this overwhelming process and automates it so you can run your own corporation.
Form a corporation with speed, value, and ease
Incorporation Packages at Legalzoom
The prices to register your corporation will vary depending upon your state. Each state determines their filing fee which starts as low as $25 and can increase to several hundred dollars, as it is in my state of New York at $200.
There are three packages – for Legalzoom services:
- Economy – $149 – Solid basics to get your corporation formed and your business launched.
- Standard – $239 – Adds an Incorporation Kit to keep all your important incorporation documents organized.
- Express Gold – $369 – Best Value because of the added services of rush processing, 2-day delivery, 30 days free Attorney Advice and a $30 discount on your EIN – Employers Identification Number obtainment.
C Corp Definition
A C-corp, the abbreviation of C Corporation, is a legal form of business entity structure or formation. If your company chooses to incorporate it becomes an independent legal entity that is separate from you, the business owner. Since the c-corp is a legal type of person it is taxed and can be sued separately from the owners of the business. In the eyes of the law, your corporation is a type of living being, so it does not cease to exist when shareholders die.
C corporations are owned by shareholders and are required to have a board of directions that make company decisions and oversee operations. Requirements for reporting of financials are required and sent to your state attorney general.
Advantages of C Corp
Limitations of owner liability if a significant benefit of a C corporation. The shareholders are not personally liable for business debts, and court judgments against the company. Owners are protected from being sued individually for corporate misdoings.
- Corporations have a lower risk of tax audits by the IRS as opposed to LLC
- Owners and shareholders are protected against liability for business debts
- C corporations can write off the cost of health plans as a business expense.
- Profit splits for shareholders and owners can save taxes for the first $50,000 in income that is taxable.
- Unlimited number of shareholders which allows for stock shares to be used for raising business capital
- Foreign nationals can own and invest in C corporations, which is not permitted by S Corporations.
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Check out my guide on how to start your business right with tons of useful tips I learned by successfully starting, building, and selling multiple companies.