Creating a corporation can be a demanding task, especially in regards to the paperwork required by Georgia and most other states. Although the process may one day just be handled online, you currently must still submit written documents through the mail to the Georgia Secretary of State, along with a $100 filing fee.
The following documents remain central to the formation of a corporation, although one item is designated as a strong suggestion as opposed to an actual requirement.
Paperwork & Records Required When Creating a Georgia Corporation
Articles of incorporation. This document must include your company’s name (selected based on specific requirements) and address, the name of the agent who stands ready to accept all legal documents served on the corporation, along with a list of the names of each incorporator;
Annual registration. You have 90 days from the date your business is firm incorporated to file your first registration form, along with a $50 fee, with the Georgia Secretary of State. You must make sure this paperwork provides the names of the three principal officers of your business entity;
Corporate bylaws. Although the state of Georgia does not require you to actually create these (or submit a copy of them for filing), you’ll find that drafting comprehensive bylaws can help you avoid a number of major disputes. Be sure to include information about how all recordkeeping should be performed and a description of all the regularly required meetings and administrative duties. You should also clearly spell out the rights and duties of all major officers of the corporation – along with all obligations owed to your shareholders;
- Create a Record Book for your corporation. You can simply use a large notebook you already have or you can purchase one professionally created for this purpose. (To find specially made notebooks, just go to an online search engine and enter the words “corporate record kits” in quotations)
This notebook should include all of the corporation’s key documents, formal “minutes” of all important meetings, stock certificates (and stubs), as well as any other paperwork you believe the state of Georgia or the IRS/federal government might want to review during an unannounced visit to your corporation’s principal office;
Pay all required taxes on a timely basis. Be sure to hire a highly skilled accountant or outside firm to pay all required taxes for you as they become due each year. You may want to meet with a tax law specialist during the early stages of forming your corporation to be sure you fully understand all major corporate tax issues.
To obtain help with handling all of your Georgia business planning needs, please contact Shane Smith Law today. You can schedule your free initial consultation with a knowledgeable Peachtree City estate planning attorney by calling: (770) 487-8999.