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Incorporations, Inc.

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Step 1: Decide on a name for your business.
Keep in mind that even though it is possible to change the company name once it has been recorded with the Secretary of State, it is a time consuming, costly process. Make your name as unique as possible. The more unique the name, the greater the chance another company is not operating under that particular name. Because two companies may not operate under the same name, it is also necessary to come up with a second and third choice. It is perfectly acceptable to name your business after yourself (i.e. John Smith Trucking, Inc.)


Step 2: Decide on the type of legal entity that would be best for your business:
Listed below are the various types of legal structures that we recommend for trucking contractors. We have briefly defined each one, however, laws differ from state to state and your personal circumstances may make one choice better that another. We highly recommend that you call our toll-free number, 1-800-232-0391 to discuss the type of legal structure that is best for you.
TYPES OF LEGAL STRUCTURES
A corporation is typically formed when one or more individuals, partnerships, or other individuals join together to form a separate entity for the purpose of operating a business. A corporation has its own legal identity, separate from its owners. The corporation offers protection to the business owner's personal assets from debts and liabilities relating to the operation of the corporation.
Subchapter "C" Corporation
  • Taxed at the corporate tax rates
  • Owners pay personal income tax on dividends taken out of the company (double taxation)
  • Owners must be paid a salary and payroll taxes must be deposited timely
  • A corporate kit must be purchased (minute book, stock certificate, stock ledger and corporate seal - approximate cost $75)
  • An annual meeting and corporate resolutions are required to insure that you maximize your personal liability protection
Subchapter "S" Corporation
  • Taxed at your personal tax rate
  • No double taxation
  • Owners must be paid a salary and payroll taxes must be deposited timely
  • A corporate kit must be purchased (minute book, stock certificate, stock ledger and corporate seal - approximate cost $75)
  • An annual meeting and corporate resolutions are required to insure that you maximize your personal liability protection
Limited Liability Company (LLC)
  • Taxed at your personal tax rate
  • No double taxation
  • No payroll - owners can pay themselves whatever they want, whenever they want (income taxes on earnings must be deposited quarterly to avoid interest and penalties)
  • No corporate kit is necessary, although if you have more than one member, you may want to consider an operating agreement
  • No corporate meeting is necessary

Step 3: Decide if you will use Incorporations, Inc. as your registered agent, or if you will act as your own registered agent.
Most states require that you have a registered agent within the state for Service of Process (delivery of legal documents). Through our sister company, Incorporations, Inc., we can offer you the benefits listed below:
  • You have an official Registered Agent address for your company. The Secretary of State requires that they be notified each time your business moves and charges you a fee for recording the change. By using our service, you have a permanent address on record with the Secretary of State.
  • We provide free forwarding of all official correspondence.
  • We accept all Service of Process on behalf of your company.
  • We provide privacy regarding all corporate legal mail. Additionally, if you have a home-based business, you will not have to worry about misplaced mail.
  • We will complete your annual registration and direct you on the amount and due date of the registration. In some cases we can file electronically and bill you for the registration fee. Penalties for not filing timely can be significant.
Step 4: Complete the online application and payment forms.



Step 5: We will complete all of the legal documents needed in order to form your new business. We will mail them to you for signature. Simply sign in the areas designated and return the paperwork to us in the enclosed envelope.



Step 6: Wait...
Incorporations, Inc. will write the necessary checks to the Secretary of State and mail the paperwork to them. The Secretary of State usually takes 3-4 weeks to complete the paperwork. This varies from state to state and depends on the time of the year. During January and February, it could take up to two weeks longer due to the volume of filings being processed by the Secretary of State. Once we receive the legal documents back from the Secretary of State we will apply for your Employer Identification Number (EIN). We will mail you the original documents from the Secretary of State, along with your EIN.



Step 7: Open Business Checking Account
You must take the information from the Secretary of State and your EIN number to your bank and open a business checking account.



Step 8: Complete the direct deposit paperwork.
Complete the direct deposit paperwork and turn it into your manager. Your manager will submit the paperwork for processing.



Step 9: Apply for a business license.
Check with your local or county government to determine if you need to obtain a business license. This varies from state to state, and county to county. Now, you're finished!