Incorporating a small business can offer you tax benefits, personal liability protection, and many other valuable advantages over operating as a sole proprietorship. While it may seem to be very complicated to incorporate, a small business attorney can easily walk you through the process, and the benefits are definitely worth it.
Once your business formation is completed, and you are operating as a corporation, there are several things you have to do in order to maintain your corporate status. Otherwise, you could lose all the benefits you were enjoying. Here are a few essential ways to maintain the corporate status of a small business.
- Maintain an up-to-date list of every corporate officer – you will need their most recent contact information
- Keep the company’s bylaws updated
- You will need to record the minutes from corporate meetings and hold these meetings at the required intervals
- Keep the company’s articles of incorporation updated
- Hold current information for all shareholders in the business
- Each year, you must complete an annual report for the business that accurately reflects the company’s finances
Of course, you may require the assistance of your business attorney or even an accountant to handle some of these matters. But don’t let that scare you off from getting the benefits of having your business incorporated.
Help for Small Business Corporations in California
Pokala Law APC in San Diego specializes in helping small businesses with matters like these. Remember that each state has different regulations regarding corporations, so you want a local attorney. Call 1.844.695.1487 to learn more today, or you can request your appointment online.
