Is Article of Organization same as Article of Incorporation?

There are a number of legal conditions that must be fulfilled when starting a business. Articles of organization or incorporation must be submitted, depending on the type of business entity being formed, as one of these prerequisites. Despite the fact that the two terms may sound identical, they refer to distinct legal papers.

For the purpose of creating a limited liability company (LLC), articles of organization are utilized. The name of the firm, the names and addresses of the owners (also known as members), and the purpose of the enterprise are all included in this document’s basic sketch of the LLC. It also outlines the management of the LLC, how earnings and losses will be allocated, and how the company can be dissolved.

However, while establishing a corporation, articles of incorporation are employed. The basic guidelines and standards that will guide the business are outlined in this document, which also creates the corporation as a legal entity. It contains details about the corporation, including its name, goals, location, number of shares of stock, and the first board of directors’ names and addresses. In response to the query of what it means for a corporation to go from active to in existence, it is simply understood to mean that all business operations have been discontinued. This could be the result of a number of factors, including bankruptcy, dissolution, or a merger with another business.

A corporation’s status may be altered to “forfeited existence” if it doesn’t follow certain legal criteria, such filing yearly reports or paying taxes. As a result, the corporation is no longer in good standing and is unable to operate until the problem is resolved.

Moving on, the answer is that an LLC is required to get a business license in Georgia. The county or city where a business is located in Georgia is required to issue a business license to all enterprises operating there. In addition, certain business categories, such those that sell alcohol or tobacco, can need additional licenses or permissions.

Last but not least, there are a number of variables that affect how much it costs to incorporate an LLC in Georgia, including the filing price, name reservation fee, and publication fee. The name reservation price is $25, while the filing charge for the articles of formation is $100. A notice of intent to incorporate an LLC must also be published in a local newspaper, which can cost between $40 and $100 in some counties in Georgia.