There are many benefits that can be derived from incorporating a small business. For one thing, you get protection for your personal assets by separating them from your business. You also get a number of tax benefits, including deductions that can only be taken by corporations.
But these benefits only continue as long as you maintain corporate status. What are some of the things that you need to do?
Necessary Records for Corporations
Record keeping is important for corporations. Some of the things you need to keep up to date in order to maintain your corporate status include:
- Updated contact information for corporate officers
- Current shareholder information
- Meeting minutes for corporate meetings
- Articles of incorporation
- The bylaws of the company
- Annual reports documenting the corporation’s financial state
Besides maintaining these and other records, you also need to comply with additional federal and state laws that apply to corporations.
Why You Want a Small Business Attorney
Since state and federal laws regarding corporations can be difficult to understand, it makes sense to hire a small business attorney to help with your business formation and to assist you in maintaining your company’s corporate status along with all of the benefits that it brings. If you are operating a small business in southern California, Pokala Law APC can help.
We’re a small business, so we understand your specific needs. And business formation law is one of our specialties, so we can help you to incorporate your small business and protect your assets. To learn more, call 1-844-695-1487, or schedule an appointment online.