What are the legal steps and paperwork that need to be filed for before starting a Business in your state?

February 3, 2009 by · 4 Comments
Filed under: Blog 

Basically I'm in the process of starting a new business, basically an E-commerce type business. What I would like to know is what are legal paper works that I need to take of before launching the company? What i mean by paperwork I mean will I need to file with the state or my local charter for anything and also am I going to need to apply for an EIN with the IRS; I'm guessing so since it is me and a bud who owns the company. Also the state is PA.

I generally recommend consulting and retaining an attorney for matters like these. While some people do this on their own, more often than not they make mistakes along the way that could have been avoided by simply retaining an attorney to counsel them and handle the paperwork, usually for a nominal fee of a few hundred dollars in legal fees plus out of pocket filing fees such as state filing fees.

For arguments sake though lets say that you want to incorporate your business which would be what many people starting off a small business as the sole owner would want to do.

First pick a name for your corporation and search here to see if it is already taken:

https://www.corporations.state.pa.us/corp/soskb/csearch.asp?corpsNav=|

Next prepare and file Articles of Incorporation. Form and instructions can be found here:

http://www.dos.state.pa.us/corps/lib/corps/20/7/1306-2102.pdf

After you get written confirmation from the state that your Articles of Incorporation have been filed, get a federal employer identification number online here:

https://sa1.www4.irs.gov/modiein/individual/index.jsp

Select the option to get your EIN confirmation letter online and you will get a pdf version of it right away.

File a Form 2553 federal s-election within 75 days of your incorporation date. Form is available here:

http://www.irs.gov/pub/irs-pdf/f2553.pdf

Instructions are available here:

http://www.irs.gov/pub/irs-pdf/i2553.pdf

Within the same time period file your Pennsylvania S-election. Forms and instructions are here:

http://www.paopen4businessbriefcase.state.pa.us/Download/rev1640.pdf

Order a standard corporation kit for your corporation through any number of legal vendors. I am not going to post any specific one here because I don't want anything here to be deemed as spam and these are commercial vendors but if you look for minute books in a web browser search you will get a number of vendors back in your search results. The kit will have a minute book for your corporation with initial forms of incorporator and board minutes for you to fill out and documents to fill out regarding the issuance of the stock of the corporation to you. These are internal documents you keep that don't need to be filed anywhere but which you may one day have to present to another party in your business dealings.

Again, I recommend you retain an attorney to handle this but this is the very raw information on what you need to do to incorporate in Pennsylvania.

Edit: I just noticed you mentioned that you have a business partner. Your really should consult an attorney if you are going into business with someone else. Because it is not really responsive to your question though I will leave it at that.

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