Whether your company is large or small, incorporating can be a smart business decision. Here are five key benefits to forming a corporation, LLC, or non profit.

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1. Protect your business name

Filing articles of incorporation serves to strengthen and protect your businesses name. It prevents other businesses in your state from using the name of your business as their own. This in turn can improve marketing, branding and general name recognition.

2. Establish legitimacy

Once you establish your business as its own entity, you gain legitimacy.  You can do things with your business that are often more difficult for sole proprietors, such as raising funding, finding advisors, and partnering with other companies.

Potential customers also appreciate dealing with registered companies they know will be around for a while.

3. Protect personal assets

Incorporating your business creates a separate legal entity for your business. Operating your business as a separate entity protects your personal assets, like your home, car, and savings. You will not be personally liable for the debts and judgements against your business.  

4. Perpetual existence

Corporations continue to exist even if the founder or manager leaves the company. This is different than a partnership or sole proprietorship where a change in ownership can result in the destruction of the business entity. Incorporation grants stability and establishes a legacy, something that clients, shareholders and those you do business with can appreciate.

5. Tax benefits

An incorporated business can be taxed separately from the owner, which is favorable in many cases. Self employment tax credits, health insurance for employees and other tax considerations may become available after incorporating.

If you have a non-profit organization, you can't be considered for tax exempt status until you have incorporated.  Without tax exempt status, it is extremely difficult to receive grants and other charitable giving.  Any donations you receive are not tax deductible.

Get Started Start your incorporation Answer a few questions. We'll take care of the rest.

Get Started Start your incorporation Answer a few questions. We'll take care of the rest.