Corporation Setup – Contractors Exam Center Can Help
Incorporating your contracting business offers a unique set of benefits, most of which are simply unavailable to sole proprietorships and general partnerships. Corporation setup, whether in Arizona or Nevada, gives you tax flexibility, limited liability and an entity infrastructure for raising capital. Incorporation is the best path for you and your new contracting business. You’ll want to incorporate your construction business for four very important reasons.
Being a corporation provides business credibility to creditors, prospects and clients, because they know your construction business is fully in compliance with state law. Simply adding “Inc” or “LLC” to your business name affords you the business credibility and professional appearance that your customers are looking for.
The tax benefits that corporations are allowed to deduct include far more expenses than informal businesses. Insurance, travel, and entertainment are corporate deductions. Those write-offs can be substantial and add a lot to your bottom line. Corporations and those who own them are also free from paying certain self-employment taxes. The tax benefits of incorporating your construction business far outweigh the costs of incorporation.
Should a corporation become unable to pay its debts, the owners enjoy a “limited liability” asset protection status. Their personal funds, property and other assets cannot be collected, impounded or put in lien to pay their business debts. If proceedings are brought against a corporation, the owners’ personal assets are safe from forfeit. Incorporation means Asset Protection.
If your business is a corporation, “perpetual lifespan” means changes in ownership will not require it to be dissolved. Your incorporated construction business is a perpetual entity. The transfer of ownership can be accomplished through the simple sale of common or unrestricted preferred stock, or by membership interest transfers. Being a perpetual entity also makes it easier for incorporated businesses to get bank loans, or attract investors. Loans and debt are in the Corporation’s name, so the transfer of ownership is immaterial.
Arizona Corporation setup and processing includes domestic corporation setup, foreign corporation setup, reservation of trade names, statutory agent and publishing of articles. We will handle all of the paperwork and hand deliver your forms to the Corporation Commission.
Don’t wait another minute. Call us today or simply stop by our office for a free consultation. You’ll be glad you did!
You will find all of our pricing information below.
Nevada Corporation Fees – Call for pricing.
|Corporation Processing||$ 250.00|
|Corporation Application Fee for Arizona Corp**||$ 95.00|
|Corporation Application Fee for Foreign Corp**||$ 210.00|
|Publishing Fee for Arizona Corp||$ 125.00|
|Publishing Fee for Foreign Corp||$ 200.00|
|Statutory Agent Fee (1 year)||$ 125.00|