State Processing Fees and Times
Wondering what the processing times and fees are for starting a Louisiana corporation? We have a complete list of the average wait times for both expedited and standard filings.
Louisiana charges a corporation filing fee. Visit "compare pricing" in our incorporation center to see all state fees for Louisiana.
Deciding Between a Delaware S Corp and C Corp Tax Designation
Because limits on liability, structure, management and compliance documents are the same, deciding between an S Corp and a C Corp in Louisiana comes down to the following differences:
- Ownership Rules: A C Corp can have unlimited shareholders and unlimited stock classes. An S Corp is limited to a maximum number of shareholders, usually 100, and only one stock class.
- Taxes: A C Corp is taxed separately. It files taxes at the corporate level, and shareholders can also pay taxes on dividends they receive. S Corps are "pass-through" tax entities. No taxes are paid at the corporate level. Instead, taxes are paid individually by the owners.
- Documents: An S Corp must file IRS Form 2553 to gain S Corp status.
Every state has its own personnel requirements for incorporating. In Louisiana, they include the following:
- Age requirement: Incorporators must be at least 18 years of age.
- Number of incorporators: One or more incorporators are required. An incorporator may be a person or a business entity.
- Number of directors: One or more directors are required. A director must be a person, not a business entity.
- Residency: There is no residency requirement for incorporators or directors in Louisiana.
Other Requirements for Your Articles of Incorporation
In addition to personnel requirements, your Louisiana Articles of Incorporation must also address the following issues.
Every Louisiana corporation should appoint a registered agent. A registered agent is the person or business responsible for receiving tax, legal and government documents for your corporation during regular business hours. Every corporation needs one. Your registered agent must have an address in the state. In Louisiana, your agent does not have to be included in your Articles of Incorporation, but you must include your agent in the initial report you're required to file simultaneously with your Articles. We can help you designate your registered agent when you incorporate with us.
You must also include the following in your Articles of Incorporation in Louisiana:
- The signatures of each incorporator. The document must be in English.
- The name of the corporation.
- The purpose of the corporation.
- The duration of the corporation, if it's not perpetual.
- The number of shares authorized for issue.
- The relative rights of different classes of shareholders.
- The name and address of each incorporator.
- The corporation's taxpayer ID number.
Other Required Paperwork
Your corporation must file an initial report with its Articles of Incorporation. The report must be signed by each incorporator and it must state the location and municipal address of the corporation's registered office. It must also include the full name and municipal address of each registered agent, and the names and addresses of the first directors if you've chosen them by the time you file your Articles.
Guidelines for Your Name
Your corporation's name is how it will be known to the world. Louisiana has a few requirements:
- Your corporation's name must be expressed in English letters or characters.
- Your name must include "Corporation," "Incorporated" or "Limited." It may include the word "Company" or its abbreviation, as long as it's not stated "and Company." The abbreviation "DBA" or the words "Doing Business As" may not be used.
- Your name can't include "Bank," "Banking," "Banker," "Savings," "Trust," "Deposit," "Insurance," "Mutual," "Assurance," "Indemnity," "Casualty," "Fiduciary," "Homestead," "Building and Loan," "Surety," "Security," "Guarantee," "Cooperative," "State," "Parish," "Redevelopment Corporation," "Electric Cooperative" or "Credit Union."
- Your name must be unique and not similar to any other name already registered with the Louisiana Secretary of State.
- If your name includes the words "Engineer," "Engineering," "Surveyor" or "Surveying," you must provide evidence that a copy of the corporation's Certificate of Incorporation has been delivered to the Louisiana Professional Engineering and Land Surveying Board.
Louisiana Corporate Taxes and Reports
Louisiana requires that corporations file an annual report on the anniversary date of incorporation.
Although it's not the most enjoyable part of owning a business, you'll have to pay taxes for your new corporation. Before you start doing business, you must apply to the IRS for an EIN, an employer identification number. An EIN is the equivalent of your company's Social Security number. We have more information about the tax structures of both C Corps and S Corps.
Corporate Record Keeping and Filing Requirements
Louisiana does not require that corporations create bylaws, but it does require them to keep meeting minutes to maintain their corporate status. It's recommended that you keep these documents regardless of whether they're required by your state, because they help protect the legality of your corporate status. We have more detailed information about Louisiana's requirements for bylaws and meeting minutes.
Starting a new Louisiana corporation is exciting and challenging. We have all the legal documents, filing and tax information you'll need to get started.
This article contains general legal information and does not contain legal advice. Rocket Lawyer is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.