How to Incorporate Your Business With Incfile
Whether you’re a first-time entrepreneur or a veteran, Incfile makes it simple to incorporate your business. Their user-friendly interface is easy to navigate and focuses on personalized steps for every state.
Incfile also offers several entrepreneurial resources, including a DIY email course, small business startup guides and state-specific guides. Its learning center is a great place to start if you want to learn more about your business entity type and how it can affect taxes.
How It Works
Incfile is a well-known business formation service provider with more than 1 million companies formed since it opened in 2004. Its basic package is free and all you need to pay is your state filing fee.
This is a huge value-add, especially when compared to other competitors that charge hundreds of dollars for their services. The company also offers other helpful features at a low price, such as registered agent and bank resolution drafting.
For example, they can also get your business a tax ID number – this is useful for establishing credit, paying employees, opening a business bank account, and filing tax returns. It’s included in the Gold and Platinum packages, but you can also pay a one-time fee for it separately.
Despite its easy-to-use interface, Incfile has a few issues that may put potential customers off. First, their cancellation policies are not clearly stated alongside their services. In addition, most yearly services are renewed automatically without your consent, so it can be difficult to know when to cancel.
Documents You’ll Need
Incorporating a business with Incfile means that you’ll be formally established as a corporation. This designation gives your business credibility and helps you build trust with clients.
But it also means that your business must register to pay taxes, which can vary by state. And if you plan to hire employees, you’ll need an Employer Identification Number (EIN).
A good way to ensure that your business is properly registered and in good standing with the state is to obtain a Certificate of Good Standing from your Secretary of State office.
Incorporating with Incfile gives you all the necessary paperwork for these and other business essentials all in one place. With a free Registered Agent service, name availability search, articles of organization, tax planning consultation and more, Incfile’s standard package is the ideal starting point for any small business owner. Plus, you’ll have access to additional business services from within your dashboard when you need them.
Taxes
Incfile provides a wide range of business formation and small business-related services. It helps users set up legal entities and add bookkeeping services. It also has several entrepreneurial guides, free business tools and downloads, and an informative blog.
LLCs, C-corporations, S-corporations, and nonprofits can be formed with Incfile. It can also help you file for a federal Employer Identification Number (EIN) and prepare tax returns.
Articles of Organization are a legal document that establishes your business’s management structure, rights, powers, liabilities, and duties. They’re required by all U.S. states when starting an LLC.
Registered Agent: Every LLC in the United States must have a registered agent. If you choose a free plan from Incfile, it will act as your registered agent for the first year.
After that, it will automatically renew your service for $119 per year unless you cancel it. This is among the lowest prices for a registered agent service among business formation services.
Requirements
Incfile offers a wide variety of business entity types. It can help you form LLCs, S corporations, C corporations, and nonprofits. It also provides a range of helpful resources for entrepreneurs.
Incorporating your business with Incfile can be easy, especially if you take advantage of the company’s free plan. Its packages include features that other services charge a higher fee for, such as a business name and an EIN.
An EIN is an Employer Identification Number, or tax ID, that you need to open a business bank account and hire employees. You can get one from the IRS, but you may prefer Incfile’s streamlined process.
Another important document you’ll need is an operating agreement. It will outline how your business will operate, who has the responsibility for it, and what laws apply to you. Additionally, Incfile can help you draft a banking resolution that will authorize your company to open a business bank account. In addition, it can assist you with filing your annual reports and other paperwork, which is a great feature for many businesses.