A Set Of Guidelines For Delaware Articles Of Incorporation
The state of Delaware is known as The First State, and the Small Wonder, and what better place is there to start your own corporation than in this thriving area for economists? One of the most business-friendly characteristics of the state is that there are no corporate taxes, and its corporate law structure leads to a very profitable environment for any business. If you would like to have a great start in business and you would like to form a corporation in Delaware, be it a profit or nonprofit company, or a stock or non-stock organization, the first thing that you need to learn is how to write the Delaware Articles of Incorporation. This is the legal document which is the first step towards registering your organization, and the Delaware Articles of Incorporation needs to be filed with the office of the Delaware Secretary of State before you can officially start your business.
First things first, you need to think of a name for your organization and you need to make sure that the name is not already taken by an existing corporation in the same state. When filing for the Delaware Articles of Incorporation, the name should be followed by the following words or its corresponding abbreviations: Company, Limited, Incorporated, Corporation or Association. For non-profit organizations, the names usually end with the words Foundation, Club, Institute or Society. The second thing that you need to decide on, which is important as well when starting establishing a company is whether you will be building a C or an S corporation.
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The difference between the two lies in the way that the income of each type of corporation is taxed. With a C Corporation, the income is taxed while the income under the S Corporation is not taxed, with a few exceptions under the Federal Income Tax Laws. Once the distinction has been made, the next item that you need to include with the Delaware Articles of Incorporation is a brief overview of the bylaws.
To finish it all off, you should include some more items in the Delaware Articles of Incorporation like the names and addresses of the incorporators, the stock information, the registered corporate address in Delaware and the address of the registered agent the contact person to whom all the official correspondence will be addressed to. Once all of these items have been included and they are clearly stated in the Delaware Articles of Incorporation, the document should be filed with the office of the Secretary of State in Delaware.
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