To start a Pennsylvania Corporation, you need to make a unique business name for your startup. Your business name should have a designator like incorporated, corporation, limited and company to mention a few.
Apart from this, your corporation’s name should be distinguishable from other names of existing businesses. To check for availability, you can use the Pennsylvania Secretary of State’s business name search tool.
To reserve your business name for 120 days, file for a name reservation before the Pennsylvania Department of State. Along with a $70 filing fee, your application for reservation should be sent on this address:
Department of State, Corporation Bureau,
PO Box 8722, Harrisburg, PA 17105
Step 2) File Your Articles of Incorporation
One of the most important steps that you must take is to file your Articles of Incorporation before the Pennsylvania Department of State.Prepare the following information before you proceed with the filing:
Along with your articles of incorporation, you must also submit a New Entity Docketing Statement or form DSCB:15-134A. You file these forms through postal mail along with a $125 filing fee.
To officially make your business a Corporation, you need to file the Articles of Incorporation to the Secretary of State of Pennsylvania. When filing a Corporation in Pennsylvania, note that you need the following information:
Filing fee: $50
A Pennsylvania Registered Agent plays a big role in your corporation which is why you need to hire the most competent one for your business. Your agent will be responsible in receiving, sorting and prioritizing pertinent documents and mails in your business’s behalf.
In the state of Pennsylvania, you must follow basic requirements when designating an agent. He/she must be a resident of the state or an authorized company allowed to conduct business in Pennsylvania.
Your agent should also have a physical address where documents will be sent. The Pennsylvania Department of State website has a list of available registered agents that you can check out.
A Corporate Records Books is not a mandatory requirement but it’s an essential thing that you must have for your business.
It is where you can place and record all important documents and minutes for safekeeping. Some of the important documents that you may need to keep include business registration documents, state tax records and business licenses and permits.
You can buy your Corporate Records Books from your local office supply store or you may directly place an order at Amazon for direct shipping.
As the business owner, it is your responsibility to elect the initial directors of your Pennsylvania Corporation. They play an important role in your company as they will be at the forefront calling the shots and deciding what is best for your business.
Once you’ve elected the initial directors, create an Incorporator’s Statement stating all the names and addresses of your board of directors. Keep it in your Corporate Records Binder for safekeeping.
Once you have your initial directors, you can set a date for your first board of directors meeting. Some of the most important things that you will discuss during this meeting include the following:
If you’re thinking of forming an S-Corporation, you have to include this in your discussion. Document every point and agenda and prepare a minutes of the meeting, have it signed by your directors and keep it in your Corporate Records Book.
Compliance of business tax and license requirements is a mandatory requirement to start a corporation in the state of Pennsylvania. For smooth business operations and to avoid problems with the IRS and the Pennsylvania government, you must fulfill these requirements first:
Keep track of your business finances better and manage your expenses efficiently by opening a business bank account. By doing so, you will be able to separate your business and personal finances preventing any form of mix-up.
Recommended Resource: Look into this roundup to guide you and help you choose the best kind of business bank account for your Pennsylvania Corporation.
Congratulations! You are now officially a Pennsylvania Corporation. But before anything else, you need to complete these five requirements. Get things done and launch your business as soon as possible!
Finding enough capital is very important when building a business. You should never start your business undercapitalized because if you do so, it will be detrimental to the overall success of your business.
A business plan is a powerful tool to find the right funding option for your Pennsylvania Corporation. It is also a guide that will help you immensely.
A business website is essential if you want to keep up with the competition. Businesses today have websites in place because it enables them to reach a larger market and it helps them deliver their message and branding better.
With tools such as WordPress which allows you to build a website in just minutes and Bluehost, an excellent web building software that has a one-click WordPress installation service and customer support.
Resource for Getting Started: You can get started by checking out this step-by-step guide to assist you.
To make sure that you operate your Pennsylvania Corporation with efficiency and order, you must create a Corporate Bylaws.
The latter is a legal document that outlines your daily operations, enabling you to operate your business smoothly. A Corporate Bylaws is not a mandatory requirement so it doesn’t have to be filed with your Articles of Incorporation.
Please note that this article is informational in nature and should be treated as such. The main purpose of the guide is to give you instructions; it is not a legal document or a replacement for legal advice. If you have queries about the specifics of starting a corporation in Pennsylvania, you can address them to your lawyer.