California C Corporation
An overview to incorporating a business in CA
If you’d like to incorporate in California, you would do so by drafting and filing
Articles of Incorporation with the Secretary of State’s office. The California Corporations
Code sets the guidelines for all business filings in California. California Articles
of Incorporation are pursuant to General Corporation Law, California Corporations
Code, Title 1, Division 1, Chapter 2, which sets forth the requirements for all
stock-issuing entities in the state of California. You'll deal with the Business
Programs division of the California Secretary of State, which is the state body
in charge of all corporate business filings.
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Steps to Forming a California C Corporation
The following information must be included in your Articles of Incorporation:
- Name: In this section of the California Articles of Incorporation you will fill
in the name of your company in exactly the manner you want it to appear on the records
of the California Secretary of State. In California, your business name cannot be
the same as any existing active corporation or any currently reserved corporation’s
name. Additionally, California has a list of certain words and professional designations
that are restricted for use by approval only. For instance, your XYZ Plumbing Supply
Company cannot claim to be a credit union, an insurer, or a cooperative, to name
a few, without approval from the state of California. To avoid a rejection, ClickandInc.com
can help you determine whether your name is available by performing a
business name search. Generally, California does not absolutely require
a corporate ending such as Incorporated, Corporation, or Company or their abbreviations,
although you may need to add a corporate ending if ever you decide to register as
a foreign corporation in a state which does require this. You may wish to review
more information on how
to name your business.
- Purpose: In California, you are permitted to form a corporation for any lawful business
activity. In this section, a statement provided by the state must be included exactly
as provided. The statement is: "The purpose of the corporation is to engage in any
lawful act or activity for which a corporation may be organized under the General
Corporation Law of California other than the banking business, the trust company
business or the practice of a profession permitted to be incorporated by the California
Corporations Code."
- Registered agent: In this section you will provide the name and California address
of the person you will be designating as your Registered Agent. P.O. boxes are not
acceptable on their own; a physical address is required. The Registered Agent can
be either an individual or an incorporate entity; however, a corporation is not
permitted to serve as its own Registered Agent.
- Shares: In this section you will indicate the total number of shares your company
will be authorized to trade. You will be required to comply with the Corporate Securities
Law overseen by the California Department of Corporations before you will be permitted
to sell or issue shares in your corporation.
- Execution: The person who drafted the Articles of Incorporation must sign them before
filing them.
If any of the above information about your business changes, you must file an amendment
to the Articles. It is very important that the state have accurate and up-to-date
information about your business.
Let ClickAndInc.com set up your
C Corporation in California for you—or take a look at
Sample California Articles of Incorporation.
Further Responsibilities of a California C Corporation
California corporations are required to file an initial Statement of Information
within 90 days of filing. Additionally, you will file an annual Statement of Information.
Failure to do so in a timely manner will result in hefty late fees.
Additional Information about a California C Corporation
Your C Corporation:
- Can sell stock and raise capital
- May deduct the cost of benefits provided to employers (such as parking permits,
health insurance, and so on)
- Has a board of directors, which oversees the policies of the corporation
- Issues limited liability for owners
- Can be owned by non-US citizens or non-resident aliens
- Can own other business entities
- Can be owned by other business entities
- Is taxed separately from the owners’ income
Shareholders of a California C Corporation cannot be held liable in a judgment against
the corporation for an amount greater than the amount of stock they hold. (This
does not include any personal liabilities, such as fraud, failure to pay taxes,
and so on.)
Other Types of Businesses in California
For information on other types of businesses in California, please explore the links
below.
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