Choose a name for your corporation: Choosing a name for your corporation is the first stage in writing your articles of incorporation. Check to see if the name is available in the state where you intend to incorporate.
2. Identify the organization’s goals: The reason for your company’s existence is its purpose. Your corporation’s planned business operations should be briefly described in this section. 3. Specify the original directors and officers: The initial directors and officers of the corporation should be specified in the articles of incorporation. These people will be in charge of overseeing the company’s daily operations.
4. Calculate the total number of shares that are authorized: This is the most shares that a corporation is permitted to issue. The par value of the shares, which is the lowest price at which they may be sold, should also be included in this section. After completing your articles of incorporation, you must file them with the Secretary of State’s office in the state where you intend to incorporate.
What distinguishes bylaws from articles of incorporation?
Bylaws are internal regulations that control how the corporation functions, whereas articles of incorporation establish a corporation as a legal body. Bylaws often address matters like the duties and responsibilities of the directors and officers, the conduct of meetings, and the method of decision-making.
You can ask the Secretary of State’s office in the state where you formed for a certified true copy of your articles of incorporation if you require one. A fee will be charged to you for the copy.
In New York, creating an LLC costs $200. Additionally, you must spend several hundred dollars to issue a notice of formation in two newspapers for six weeks in a row.
Each state has its own requirements for how long it takes to approve an LLC. The processing of the LLC creation papers by the New York Secretary of State normally takes two to three weeks. However, if there are problems with the paperwork or if the state is dealing with a high volume of filings, it can take longer.