Table of Contents Introduction Just What is a Corporation, Anyway? Do I Really Need to Incorporate? Types of Corporations Which Format is Best for You? The Incorporation Process: What's Involved? Should You Consult an Attorney? Okay, You're Incorporated. Now What? Treat Your Corporation Like a Business "It's A Judgement Call" Acknowledgements

Okay, You’re Incorporated.

Now What?

Regardless of how you incorporate, you will have certain ongoing responsibilities and expenses. Your state will require an annual registration fee ($45 in Missouri) and a yearly report on corporate activities. (This is a form which you or an attorney can complete).

You will need to file a "corporate minutes" document annually to summarize business activities for the previous year. Reid especially recommends documenting any unusual corporate transactions, such as taking a loan or making a major purchase.

There are also additional tax returns, which you can handle yourself or hire an accountant to complete. Many states charge a franchise tax on corporations with assets above a certain level. Fees for preparing tax returns are partially tax deductible.