Incorporating a business can be a great way to save money on annual taxes, in addition to the protection it offers you from liability – and if you want your business to have a separate legal identity distinct from you, incorporation is crucial. However, there are some steps you need to take to ensure that the process goes smoothly, and that you meet all legal requirements. Furthermore, it’s especially important that you choose the right type of corporation for your small business.
Types of Corporations
When you incorporate a business, there are a number of steps you need to take. First and foremost, you must determine which type of legal entity you wish to form: