Articles of Incorporation: What They Are?

A formal collection of paperwork called articles of incorporation is submitted to a government agency in order to formally record the formation of a corporation. The firm’s name, address, agent for service of process, and the quantity and type of stock to be issued are often included in the articles of incorporation. The corporation is formally established using the articles of incorporation.  Through LegalRegistration.com, you can form an LLC in no time.

Articles of Incorporation: An Overview

A corporation is a sort of commercial activity that is founded in the state of Georgia where the company conducts its operations, and it is how many businesses are established in the U.S. A business must take specific actions and make specific decisions as needed by corporate law in order to be legally recognized as a corporation. One such action is submitting the articles of incorporation. 

The document required to register a corporation with a state is called the articles of incorporation, and it serves as a charter to acknowledge the founding of a corporation. A corporation’s governance, the requirements for forming one, and the laws governing corporations in the state where the nonprofit articles of incorporation template Georgia are filed are all described in the document. For more information visit the website  LabyrinthTM Fundraising Compliance

Requirements for Articles of Incorporation Documents

The items (i.e. “articles” in the document) that are commonly present vary according to Georgia but include the following:

• Name of the company
• Contact information for the registered agent
• Corporate structure type (e.g., profit corporation, nonprofit corporation, non-stock corporation, professional corporation, a notice of incorporation Georgia, etc.)
• The first board of directors names and addresses
• Name, signature, and address of the person responsible for forming a corporation, known as the incorporator.

The objective of the company must also be stated in the articles of incorporation in the majority of states, though the corporation may define its purpose broadly to maintain operational flexibility. For instance, the aim of Amazon’s corporation is “to participate in any lawful conduct or activity for which domestic profit corporation Georgia may be constituted under the General Corporation Law of Delaware,” according to the company’s certificate of formation.  Additional information Business Licensing

Important Clauses

A company’s articles of incorporation may also contain clauses limiting the directors’ liability, authorizing stockholder action without a meeting, and granting the right to summon special stockholder meetings. Each state has a set of requirements that must be included in the articles of incorporation as well as additional optional clauses that the business may choose to include. Please give LegalRegistration.com a phone call if you need more information.

LLC Operating Agreement versus. Articles of Incorporation

A corporation must file a notice of intent to incorporate in Georgia‘s articles of formation with the state, whereas only an LLC may employ operating agreements. The articles of incorporation also describe the company’s information architecture. Operating agreements, on the other hand, frequently specify how disagreements among owners or members will be settled internally. Compared to the articles of incorporation, an LLC operating agreement serves more as a personal protection contract.

Business License versus Articles of Incorporation

A business license frequently enables a corporation to function in a certain region or sector. It grants the owner the authority to establish and operate a business in the specified geographic area where the license is issued. Although comparable information may be needed for both, the articles of incorporation only legally constitute an organization and are the highest governing document for a corporation, whilst the rights conferred by a business license are frequently more narrow and niche.  Get more information Sole Proprietor.

How to Start a Corporation in Georgia

A corporation is a kind of business structure that is more complicated than an LLC – but it offers benefits that an LLC does not. For instance, corporations are in a better state to carry money over between tax years. With a high startup survival rate of 76%, Georgia is a great place to incorporate.

Here is how to start a corporation in Georgia:

Name Your Corporation

There are two ways to form a corporation – you can do it yourself or hire a service to do it for you. If you want to form a corporation on your own money, you will be starting off with choosing and securing your corporation’s name.

The name is the first thing that the world will learn about your corporation; therefore, make sure to choose a name that both aligns with your brand and follows the rules of naming guidelines in Georgia. At this point, you will also have to check Georgia’s specific naming requirements. For additional information What services do we provide? 

According to the general rules, your name must contain the word corporation, company, incorporated, limited – or the abbreviation of one of these terms. Your corporation name cannot use the words “bank,” “trust,” and “credit union.”

Your corporation can also not be named in a way to be confused with a government agency. More importantly, the corporation name must be distinct from any other corporation in Georgia. 

Opt for a Registered Agent

You must choose a registered agent when you register your corporation in Georgia. The registered agent can be an individual in the company – including yourself – or you can hire a professional service authorized to do business in Georgia.

Conduct an Organizational Meeting

Before you officially file the formation documents, you will need to hold an organizational meeting to complete the following tasks:

• Create & approve bylaws
• Select initial directors
• Establish your share structure
• Execute an incorporator’s statement

File the Articles of Incorporation

You will need to file the articles of incorporation with the State of Georgia. Once the articles are approved, you will have officially formed a corporation. Check out the article Hit & Run 

You can file the articles of incorporation online or by mail with the Georgia Secretary of State. You should note that Georgia doesn’t provide a fillable form for mail and in-person delivery. In other words, you will have to draft them yourself.

The filing fees will vary, so you will want to do your research before filing. The Formation Documents will cover the basics of your corporation – including the corporate name and principal address, your registered agent’s name and street address, and the number of authorized shares that the corporation is allowed to issue.

As mentioned before, Georgia corporations must draft their own articles of incorporation. You must indicate if your corporation will issue more than one authorized share class or series.

File a Notice of Incorporation

At this stage, you must publish a notice of intent to incorporate in the newspaper record in the county where your corporation’s initial registered office is going to be located. Your notice of intent to incorporate should be sent to the newspaper no later than the next business day after filing the articles of incorporation with the Secretary of State.

Get an EIN

Lastly, you will need to get an EIN – or an employer identification number from the IRS. The EIN is also known as a federal tax identification number – this way, your EIN is like a social security number for your corporation. For additional information Category

The EIN is how the IRS tracks your business for tax purposes – but – it is also necessary to open a business bank account to legally hire employees. The good thing is that EINs are free and can be quickly attained by visiting the irs.gov website.