{"id":6982,"date":"2023-11-30T23:43:00","date_gmt":"2023-11-30T23:43:00","guid":{"rendered":"https:\/\/thewealthcircle.com\/?p=6982"},"modified":"2023-12-02T15:57:36","modified_gmt":"2023-12-02T15:57:36","slug":"how-to-start-a-corporation","status":"publish","type":"post","link":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/","title":{"rendered":"How To Start A Corporation | Easy Step By Step Guide","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n<p>When you decide to start up a <a href=\"https:\/\/thewealthcircle.com\/category\/businesses\/\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"broken_link\">business<\/a>, one of the things that come to mind is the form your business will take. Are you going to run a sole proprietorship business, a partnership, or a Corporation?<\/p>\n\n\n\n<p>A sole proprietorship is a form of business whereby you manage all the assets, liabilities, income, expenses, and daily operations alone. The partnership involves the coming together of one or more people with a common goal, in this form of business, the number of partners should not exceed 20.<\/p>\n\n\n\n<p>Starting a corporation means you\u2019re really to delegate duties to people, a corporation is a legal entity that is separate from its owners, it manages its business and daily operations with or without the owners.<\/p>\n\n\n\n<p>Deciding on which form your business will take depends on your aspirations and goals about the future for that business.<\/p>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-corporation\"><span id=\"what-is-a-corporation\"><strong>What is a Corporation?<\/strong><\/span><\/h2>\n\n\n\n<p>According to <strong><a href=\"https:\/\/en.wikipedia.org\/wiki\/Corporation\" target=\"_blank\" rel=\"noreferrer noopener\">Wikipedia<\/a><\/strong>, a corporation is an organization, usually a group of people or companies authorized by the state to act as a single entity and recognized as such in law for a certain purpose. <\/p>\n\n\n\n<p>A Corporation is a legally recognized entity that is separate from its owners, it has a life of its own, it can sue and be sued, collect loans, pay for tax, own assets, owe liabilities, employ people, and so on. Corporations possess and enjoy the same rights as individuals.<\/p>\n\n\n\n<p>Corporations are formed when individuals called shareholders, decide to partake in the ownership and formation of a corporation, through holding stocks to achieve a common purpose. A corporation can be for profit or not for profit.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-start-a-corporation\"><span id=\"why-start-a-corporation\"><strong>Why Start a Corporation?<\/strong><\/span><\/h2>\n\n\n\n<p>There are a lot of benefits associated with starting a corporation, which are not enjoyed by other forms of business like sole proprietorships or partnerships. The benefits outweighs the downsides. <\/p>\n\n\n\n<p>Benefits of starting a corporation includes:<\/p>\n\n\n\n<div class=\"wp-block-ugb-icon-list ugb-icon-list ugb-664ba6d ugb-icon-list--v2 ugb-main-block\"><style>.ugb-664ba6d li{font-size:15px !important;--icon-size:15px !important}.ugb-664ba6d li::before{width:15px !important;height:15px !important;background-image:url('data:image\/svg+xml;base64,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')}.ugb-664ba6d.ugb-icon-list ul{columns:3}<\/style><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><ul><li>Limited liability<\/li><li>Perpetual existence and continuity<\/li><li>Management<\/li><li>Legal actions<\/li><li>Retirement plan<\/li><li>Capital<\/li><li>Transfer of ownership<\/li><li>Tax advantage<\/li><li>Records<\/li><\/ul><\/div><\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-limited-liability\"><span id=\"1-limited-liability\"><strong>1. Limited Liability<\/strong><\/span><\/h3>\n\n\n\n<p>Corporations are distinct from their owners, whatever affects a corporation doesn\u2019t affect the owners, shareholders can partake in the profit-sharing through dividends but they can not be personally held for the corporation&#8217;s liabilities.<\/p>\n\n\n\n<p>It provides limited liability coverage for its shareholders, in case of liquidation, personal properties and belongings of its owners cannot be claimed by creditors.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-perpetual-existence-and-continuity\"><span id=\"2-perpetual-existence-and-continuity\"><strong>2. Perpetual<\/strong> <strong>Existence<\/strong> <strong>and<\/strong> <strong>Continuity<\/strong><\/span><\/h3>\n\n\n\n<p>Corporations enjoy an unlimited lifespan, the existence of a corporation doesn\u2019t depend on its shareholders&#8217; life. Even if the initial owners pass away or decide to sell off their shares it won\u2019t threaten the continuation of the corporation.<\/p>\n\n\n\n<p>Corporations run and operate for years unless the owners decide to close it down and this also depends on the majority vote of the board of directors.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-management\"><span id=\"3-management\"><strong>3. Management<\/strong><\/span><\/h3>\n\n\n\n<p>Shareholders vote and elect a board of directors to oversee the operation and management of the daily activities of the corporation.&nbsp;<\/p>\n\n\n\n<p>In a corporation, diverse departments are formed to manage different operations, this creates a structured and organized entity.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-legal-actions\"><span id=\"4-legal-actions\"><strong>4. Legal Actions<\/strong><\/span><\/h3>\n\n\n\n<p>Corporations have the right to sue and be sued in their own name without involving the owners. Lawsuits cannot be filed against its shareholders in case issues arise between the entity and other individuals or other companies.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-5-retirement-plan\"><span id=\"5-retirement-plan\"><strong>5. Retirement Plan<\/strong><\/span><\/h3>\n\n\n\n<p>Retirement plans and savings towards providing a good retirement settlement for management and employees can easily be established in a corporation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-6-capital\"><span id=\"6-capital\"><strong>6. Capital<\/strong><\/span><\/h3>\n\n\n\n<p>Corporations can easily raise money through the sale of their shares. Moreover, banks are always willing to lend money to corporations than other forms of business.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-7-transfer-of-ownership\"><span id=\"7-transfer-of-ownership\"><strong>7. Transfer of Ownership<\/strong><\/span><\/h3>\n\n\n\n<p>A corporation and all its assets and liabilities can easily be transferred through the use of a stock certificate. Ownership can be transferred amongst individuals or other corporate bodies through buying and selling of shares.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-8-builds-credibility-and-prestige\"><span id=\"8-builds-credibility-and-prestige\"><strong>8. Builds Credibility and Prestige<\/strong><\/span><\/h3>\n\n\n\n<p>Incorporating a business can easily build a trustworthy reputation and good name with suppliers, customers, banks, employees, government, etc. Besides, a corporation&#8217;s name sounds more attractive than a sole proprietor or partnership.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-9-tax-advantage\"><span id=\"9-tax-advantage\"><strong>9. Tax Advantage<\/strong><\/span><\/h3>\n\n\n\n<p>Corporations enjoy tax advantages like deduction of health insurance premiums paid for owners or employees, saving on self-employment taxes, workers compensation, medical insurance taxes, corporate profits are not subjected to social security.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-10-records\"><span id=\"10-records\"><strong>10. Records<\/strong><\/span><\/h3>\n\n\n\n<p>Corporations keep their financial records and accounts separate from that of it\u2019s shareholders or owners.<\/p>\n\n\n\n<p>It will avoid any confusion or issues arising from keeping them together, as money meant for the business could be spent on personal welfare.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-the-challenges-that-come-with-starting-a-corporation\"><span id=\"what-are-the-challenges-that-come-with-starting-a-corporation\"><strong>What are the Challenges That Come With Starting&nbsp;a&nbsp;Corporation?<\/strong><\/span><\/h2>\n\n\n\n<p>Anything that has an advantage will most certainly have a disadvantage, no matter how small. Below are the challenges associated with starting a corporation:<\/p>\n\n\n\n<div class=\"wp-block-ugb-icon-list ugb-icon-list ugb-22d4951 ugb-icon-list--v2 ugb-main-block\"><style>.ugb-22d4951 li::before{background-image:url('data:image\/svg+xml;base64,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')}.ugb-22d4951.ugb-icon-list ul{columns:2}<\/style><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><ul><li>Double taxation<\/li><li>Long application process<\/li><li>Expensive<\/li><li>Rigid formalities, protocols, and structure<\/li><li>Delay in decision making<\/li><\/ul><\/div><\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-double-taxation\"><span id=\"1-double-taxation\"><strong>1. Double Taxation<\/strong><\/span><\/h3>\n\n\n\n<p>A lot of corporations are usually taxed twice, that is, the corporation&#8217;s profit is taxed, on a corporate level, as well as that of the shareholders based on their percentage of dividend, on a personal level.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-long-application-process\"><span id=\"2-long-application-process\"><strong>2. Long Application Process<\/strong><\/span><\/h3>\n\n\n\n<p>The process involved in starting a corporation could be a lengthy and tasking procedure, you\u2019ll have to go through a thorough paperwork to carefully check and document the information of the business and it\u2019s ownership.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-expensive\"><span id=\"3-expensive\"><strong>3. Expensive<\/strong><\/span><\/h3>\n\n\n\n<p>Starting and operating a corporation involves a lot of money and spending, you\u2019ll have to source for a start up capital, pay filing charges and incur other expenses involved in running a corporation. States too might charge you a lot of money to start up a corporation but this depends solely on your choice state for running your business.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-rigid-formalities-protocols-and-structure\"><span id=\"4-rigid-formalities-protocols-and-structure\"><strong>4. Rigid Formalities, Protocols, and Structure<\/strong><\/span><\/h3>\n\n\n\n<p>Starting a corporation involves the complete dedication of time, energy, and patience, especially at its infant stage to avoid going against legal requirements. <\/p>\n\n\n\n<p>There are many protocols and formalities associated with starting and maintaining a corporation like appointing the board of directors, adhering to the bylaws of the corporation, having annual meetings, keeping board minutes, and Creating an annual financial statement.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-5-delay-in-decision-making\"><span id=\"5-delay-in-decision-making\"><strong>5. Delay in Decision Making<\/strong><\/span><\/h3>\n\n\n\n<p>Having a management team could also lead to a delay in decision-making, as people have their own different ideologies. Besides, no single individual owns a corporation, and even if you occupy a huge position like the Chief executive officer, it doesn\u2019t mean your decision will always be accepted, you could as well be voted out from that position by the majority vote of the board.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-long-does-it-take-to-become-a-corporation\"><span id=\"how-long-does-it-take-to-become-a-corporation\"><strong>How Long Does It Take to Become a Corporation?<\/strong><\/span><\/h2>\n\n\n\n<p>The duration involved in starting and becoming a corporation depends solely on the state, country, or jurisdiction you want to operate in, though it involves similar processes.<\/p>\n\n\n\n<p>If you\u2019re in a hurry to start a Corporation, then it is very important to carry out thorough research on incorporation and note the major information that each jurisdiction will require on the Article of Association. Starting a corporation could take a day or weeks to complete all formalities.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-much-does-it-cost-to-set-up-a-corporation\"><span id=\"how-much-does-it-cost-to-set-up-a-corporation\"><strong>How Much Does it Cost to Set Up a Corporation?<\/strong><\/span><\/h2>\n\n\n\n<p>The cost involved in starting a corporation depends solely on the state or jurisdiction you want to build your business, it is important you have a clear understanding of the expenses you\u2019re going to incur in starting a corporation. <\/p>\n\n\n\n<p>Here Is a breakdown of the expenses you\u2019re likely to expect:<\/p>\n\n\n\n<div class=\"wp-block-ugb-icon-list ugb-icon-list ugb-3e81165 ugb-icon-list--v2 ugb-main-block\"><style>.ugb-3e81165 li::before{background-image:url('data:image\/svg+xml;base64,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')}.ugb-3e81165.ugb-icon-list ul{columns:2}<\/style><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><ul><li>Filing Article of Association<\/li><li>Attorney&#8217;s Fee<\/li><li>Charges for Various Government Filings<\/li><li>Franchise Tax Prepayment in the First Year<\/li><\/ul><\/div><\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-filing-article-of-association\"><span id=\"filing-article-of-association\"><strong>Filing Article of Association<\/strong><\/span><\/h3>\n\n\n\n<p>The Article of Association which is also known as the certificate of incorporation is an official document you&#8217;ll get from the secretary of state, required for legally starting a corporation.<\/p>\n\n\n\n<p>The filing fees varies depending on the state or jurisdiction, the charges may be set, based on the number of authorized shares or sum of both. The secretary of state normally charges a sum of $100_$250 and above.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-attorney-s-fee\"><span id=\"attorneys-fee\"><strong>Attorney&#8217;s Fee<\/strong><\/span><\/h3>\n\n\n\n<p>It is not really necessary that you must employ an attorney before incorporating. With the internet, you can get any professional services you need, however, it is more advisable to work with a professional attorney to avoid mistakes that could lead to complications or lawsuits. <\/p>\n\n\n\n<p>Attorneys collect a flat fee of $500-$900 or more for incorporation. The charges include providing assistance in completing the legal documents and working with shareholders.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-charges-for-various-government-filings\"><span id=\"charges-for-various-government-filings\"><strong>Charges for Various Government Filings<\/strong><\/span><\/h3>\n\n\n\n<p>Corporations are expected to pay fees ranging from $50-$200 for government filing, this filing depends on the kind of business you\u2019re conducting and your chosen state.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-franchise-tax-prepayment-in-the-first-year\"><span id=\"franchise-tax-prepayment-in-the-first-year\"><strong>Franchise Tax Prepayment in the First Year<\/strong><\/span><\/h3>\n\n\n\n<p>A franchise tax is a sum of money paid for the privileges of operating as a Corporation in a particular state. The fees vary from $800-$1000, though not all states collect this tax.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-does-every-business-need-a-corporation\"><span id=\"does-every-business-need-a-corporation\">Does Every Business  Need&nbsp;a&nbsp;Corporation?<\/span><\/h2>\n\n\n\n<p>Generally, there\u2019s no law or written requirements that say that every business must be a corporation. As a matter of fact, there are other forms of business like the sole proprietorship and partnership, where you\u2019re only required to register your business.<\/p>\n\n\n\n<p>Deciding to incorporate depends totally on the vision you have for your business. Now, one major benefit of a corporation is the limited liability protection it gives its owners.<\/p>\n\n\n\n<p>However, if you like the flexibility of making decisions on your own without any interference from external forces, then there&#8217;s no need to incorporate.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-start-a-corporation\"><span id=\"how-to-start-a-corporation\"><strong>How to Start a Corporation<\/strong><\/span><\/h2>\n\n\n\n<p>The following steps are involved in starting a corporation:<\/p>\n\n\n\n<div class=\"wp-block-ugb-icon-list ugb-icon-list ugb-2982efc ugb-icon-list--v2 ugb-main-block\"><style>.ugb-2982efc li::before{background-image:url('data:image\/svg+xml;base64,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')}.ugb-2982efc.ugb-icon-list ul{columns:2}<\/style><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><ul><li>Select a business name<\/li><li>Find out if your chosen name is available<\/li><li>Register a DBA name<\/li><li>Elect a board of directors<\/li><li>File for an article of incorporation<\/li><li>Prepare a shareholders agreement document<\/li><li>Prepare your corporation\u2019s by-laws<\/li><li>Organize the first board meeting<\/li><li>Issue stocks<\/li><li>Register with the IRS, State, and Local tax bodies<\/li><li>Get a business license and permit<\/li><li>Open a business account<\/li><\/ul><\/div><\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-select-a-business-name\"><span id=\"1-select-a-business-name\"><strong>1. Select a Business Name<\/strong><\/span><\/h3>\n\n\n\n<p>Coming up with a business name is the first and most crucial step to take when starting a corporation.<\/p>\n\n\n\n<p>You\u2019ll need to add a corporate designation, a word that makes your business stand out as a corporation, it could be \u2018Incorporated\u2019 or Inc for short, \u2018Limited\u2019 or LTD and \u2018Corporation&#8217;. Avoid using restricted names, these are names your state restricts you from using example, insurance.&nbsp;<\/p>\n\n\n\n<p>In order not to cause confusion, avoid using similar names with other entities, select a name that is easy to pronounce and that\u2019ll make your business stand out, check out for domain names too, because having a great name without finding a suitable domain name can also pose as an obstacle.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-find-out-if-your-chosen-name-is-available\"><span id=\"2-find-out-if-your-chosen-name-is-available\"><strong>2. Find out if Your Chosen Name is Available<\/strong><\/span><\/h3>\n\n\n\n<p>After choosing a business name, it is very important to research that name. Find out if it is officially in use by another company in your jurisdiction. You can do this by going through the state\u2019s office of Corporation and business to find out the availability of your chosen name.&nbsp;<\/p>\n\n\n\n<p>Business names can be registered when filing for an article of incorporation.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-register-a-dba-name\"><span id=\"3-register-a-dba-name\"><strong>3. Register&nbsp;a DBA&nbsp;name<\/strong><\/span><\/h3>\n\n\n\n<p>DBA means &#8216;doing business as&#8217;. In most cases, you might want to run your business using a different name from the legal corporate name you\u2019ve registered. If this is the case, then you might have to register a DBA name or trade name.&nbsp;<\/p>\n\n\n\n<p>The laws guiding DBAs differ between states, countries, and jurisdictions. Check with your state\u2019s office of business development or corporation to get information about your location.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-elect-the-board-of-directors\"><span id=\"4-elect-the-board-of-directors\"><strong>4. Elect The Board of Directors<\/strong><\/span><\/h3>\n\n\n\n<p>The next step in starting your business is electing the board of directors to oversee the management of the corporation. The number of directors you\u2019ll appoint depends solely on the state or jurisdiction&#8217;s laws and regulations your business will be located at.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-5-file-for-an-article-of-incorporation\"><span id=\"5-file-for-an-article-of-incorporation\"><strong>5. File for an Article of Incorporation<\/strong><\/span><\/h3>\n\n\n\n<p>You\u2019ll have to meet up with your state\u2019s Secretary of State to collect, complete, and file your article of incorporation document.&nbsp;<\/p>\n\n\n\n<p>The names of your directors are required on the article of incorporation in some states. You might also need to get a registered agent, this is a contact person listed on the file.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-6-prepare-a-shareholders-agreement-document\"><span id=\"6-prepare-a-shareholders-agreement-document\"><strong>6. Prepare&nbsp;a Shareholders&nbsp;Agreement Document<\/strong><\/span><\/h3>\n\n\n\n<p>Though not necessary, a shareholder\u2019s agreement document is something you should have in case of dismissal, death, retirement, or any other issue that might warrant a shareholder to transfer ownership of his shares to the corporation. This assists in protecting the interest of the other owners if one dies, leaves, or retires.<\/p>\n\n\n\n<p>Having a professional corporate attorney is Handy in preparing this document.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-7-prepare-your-corporation-s-by-laws\"><span id=\"7-prepare-your-corporations-by-laws\"><strong>7. Prepare Your Corporation\u2019s By-laws<\/strong><\/span><\/h3>\n\n\n\n<p>By-laws are laws and regulations guiding the general operation of your business. Bylaws deal with things like the number of directors, authorized stocks to issue, procedures for holding meetings, and record keeping.&nbsp;<\/p>\n\n\n\n<p>Corporate by-laws are not required by the state, but you need them for a structured and efficient management of your business. Always seek help from a professional corporate attorney in preparing by-laws.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-8-organize-the-first-board-meeting\"><span id=\"8-organize-the-first-board-meeting\"><strong>8. Organize the First Board Meeting<\/strong><\/span><\/h3>\n\n\n\n<p>No matter the number of directors you have in your business, it is important to organize the first board meeting with your directors.&nbsp;<\/p>\n\n\n\n<p>This is done to handle issues relating to appointment of a structured management team, approval of by laws, and the authorization to issue stocks.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-9-issue-stocks\"><span id=\"9-issue-stocks\"><strong>9. Issue Stocks<\/strong><\/span><\/h3>\n\n\n\n<p>After appointing the board of directors and organizing the first meeting, where the directors authorized the issuance of stock, you can then proceed to issue stock certificates where necessary.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-10-register-with-the-irs-state-and-local-tax-bodies\"><span id=\"10-register-with-the-irs-state-and-local-tax-bodies\"><strong>10. Register with the IRS, State and Local Tax Bodies<\/strong><\/span><\/h3>\n\n\n\n<p>Corporations pay taxes on their profits, but before paying the tax, you\u2019ll have to get a tax identification number from the IRS, state, and local tax bodies. You can also carry out more research on corporate taxation laws in your chosen State or jurisdiction to know what is required of you.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-11-get-a-business-license-and-permit\"><span id=\"11-get-a-business-license-and-permit\"><strong>11. Get&nbsp;a&nbsp;Business License and Permit<\/strong><\/span><\/h3>\n\n\n\n<p>You can not start running your business without getting a license or permit to do so. Requirements for getting a permit and license depend on the state or jurisdiction you\u2019re operating in and the type of industry you\u2019re in. <\/p>\n\n\n\n<p>Carry out thorough research to find out the kind of license and permit your corporation needs in your chosen state.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-12-open-a-business-account\"><span id=\"12-open-a-business-account\"><strong>12. Open&nbsp;a Business&nbsp;Account<\/strong><\/span><\/h3>\n\n\n\n<p>A business account is required for structured and organized financial documentation. Shareholders&#8217; or owners&#8217; accounts are always separate from that of the corporation.<\/p>\n\n\n\n<p>Find a reliable bank and know what kind of documents you need in opening a business account, some ask for a corporate resolution while others need a copy of your article of incorporation and other relevant documents.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-conclusion\"><span id=\"conclusion\"><strong>Conclusion<\/strong><\/span><\/h2>\n\n\n\n<p>Corporations come with a lot of advantages with fewer disadvantages, though starting a corporation involves a lot of time, money, and patience.<\/p>\n\n\n\n<p>With corporations, shareholders&#8217; personal properties and investments are protected in any event of winding up. They cannot be held liable, or sued by creditors.<\/p>\n\n\n\n<p>I hope the information provided above covers everything you need to know about starting and managing a corporation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-references\"><span id=\"references\"><strong>References<\/strong><\/span><\/h2>\n\n\n\n<div class=\"wp-block-ugb-icon-list ugb-icon-list ugb-17e610b ugb-icon-list--v2 ugb-main-block\"><style>.ugb-17e610b li{margin-bottom:14px !important}.ugb-17e610b li::before{background-image:url('data:image\/svg+xml;base64,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')}.ugb-17e610b li ul{margin-bottom:14px !important}.ugb-17e610b.ugb-icon-list ul{columns:1}<\/style><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><ul><li><a href=\"https:\/\/www.investopedia.com\/terms\/c\/corporation.asp\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Investopedia<\/strong><\/a><strong> &#8211; Corporation<\/strong><\/li><li><a href=\"https:\/\/www.businessnewsdaily.com\/15805-corporation-advantages-and-disadvantages.html\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>BusinessNewsDaily<\/strong><\/a><strong> &#8211; Pros and Cons of Forming a Corporation<\/strong><\/li><li><strong><a href=\"https:\/\/startupnation.com\/start-your-business\/plan-your-business\/benefits-of-forming-a-corporation\/\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"broken_link\">StartupNation<\/a> &#8211; The 7 Benefits of Forming a Corporation<\/strong><\/li><li><a href=\"https:\/\/smallbusiness.chron.com\/long-incorporate-business-69809.html\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Chron<\/strong><\/a><strong> &#8211; How Long Does It Take to Incorporate a Business?<\/strong><\/li><li><a href=\"https:\/\/www.legalzoom.com\/articles\/what-are-the-general-costs-of-incorporating\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>LegalZoom<\/strong><\/a><strong> &#8211; What Are the General Costs of Incorporating?<\/strong><\/li><li><strong><a href=\"https:\/\/www.bizfilings.com\/starting-your-business\/state-fees\" target=\"_blank\" rel=\"noreferrer noopener\">BizFilings.com\/starting-your-business\/state-fees<\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.legalzoom.com\/articles\/how-to-form-a-corporation\" target=\"_blank\" rel=\"noreferrer noopener\">LegalZoom<\/a> &#8211; How to Form a Corporation<\/strong><\/li><\/ul><\/div><\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-author-s-recommendation\"><span id=\"authors-recommendation\"><strong>AUTHOR&#8217;S RECOMMENDATION<\/strong><\/span><\/h2>\n\n\n\n<div class=\"wp-block-ugb-icon-list ugb-icon-list ugb-8300b3b ugb-icon-list--v2 ugb-main-block\"><style>.ugb-8300b3b li{margin-bottom:14px !important}.ugb-8300b3b li::before{background-image:url('data:image\/svg+xml;base64,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')}.ugb-8300b3b li ul{margin-bottom:14px !important}.ugb-8300b3b.ugb-icon-list ul{columns:1}<\/style><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><ul><li><strong><a href=\"https:\/\/kiiky.com\/wealth\/how-to-trademark-a-name\/\">How to Trademark A Name of A Company Faster<\/a><\/strong><\/li><li><a href=\"https:\/\/kiiky.com\/wealth\/get-a-business-license\/\"><strong>How To Get A Business License In Lesser Time | Ultimate Guide<\/strong><\/a><\/li><li><strong><a href=\"https:\/\/kiiky.com\/wealth\/what-does-royalty-free-mean\/\">What Does Royalty Free Mean To Your Business Exactly?<\/a><\/strong><\/li><\/ul><\/div><\/div><\/div>\n\n\n\n<p><\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"When you decide to start up a business, one of the things that come to mind is the&hellip;\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":18,"featured_media":8475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1294],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.6 (Yoast SEO v22.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How To Start A Corporation | Easy Step By Step Guide<\/title>\n<meta name=\"description\" content=\"If you&#039;re thinking of starting a corporation but don&#039;t have any idea on how to start or what a corporation is all about, read this.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How To Start A Corporation | Easy Step By Step Guide\" \/>\n<meta property=\"og:description\" content=\"If you&#039;re thinking of starting a corporation but don&#039;t have any idea on how to start or what a corporation is all about, read this.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/\" \/>\n<meta property=\"og:site_name\" content=\"Kiiky Wealth\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/ihuomachidire\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-30T23:43:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-02T15:57:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IhuomaChidire\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@IhuomaChidire\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"IhuomaChidire\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"12 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/\"},\"author\":{\"name\":\"IhuomaChidire\",\"@id\":\"https:\/\/kiiky.com\/wealth\/#\/schema\/person\/85bd3822e96cc2f15f7e21beb465504e\"},\"headline\":\"How To Start A Corporation | Easy Step By Step Guide\",\"datePublished\":\"2023-11-30T23:43:00+00:00\",\"dateModified\":\"2023-12-02T15:57:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/\"},\"wordCount\":2601,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/kiiky.com\/wealth\/#organization\"},\"image\":{\"@id\":\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg\",\"articleSection\":[\"Businesses\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/\",\"url\":\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/\",\"name\":\"How To Start A Corporation | Easy Step By Step Guide\",\"isPartOf\":{\"@id\":\"https:\/\/kiiky.com\/wealth\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg\",\"datePublished\":\"2023-11-30T23:43:00+00:00\",\"dateModified\":\"2023-12-02T15:57:36+00:00\",\"description\":\"If you're thinking of starting a corporation but don't have any idea on how to start or what a corporation is all about, read this.\",\"breadcrumb\":{\"@id\":\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#primaryimage\",\"url\":\"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg\",\"contentUrl\":\"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Source: canva.com\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/kiiky.com\/wealth\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How To Start A Corporation | Easy Step By Step Guide\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/kiiky.com\/wealth\/#website\",\"url\":\"https:\/\/kiiky.com\/wealth\/\",\"name\":\"Kiiky Wealth\",\"description\":\"Learn How to Build Wealth Online\",\"publisher\":{\"@id\":\"https:\/\/kiiky.com\/wealth\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/kiiky.com\/wealth\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/kiiky.com\/wealth\/#organization\",\"name\":\"The Wealth Circle\",\"url\":\"https:\/\/kiiky.com\/wealth\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/kiiky.com\/wealth\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2022\/05\/kiiky-lwealth-logo.png\",\"contentUrl\":\"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2022\/05\/kiiky-lwealth-logo.png\",\"width\":255,\"height\":60,\"caption\":\"The Wealth Circle\"},\"image\":{\"@id\":\"https:\/\/kiiky.com\/wealth\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/kiiky.com\/wealth\/#\/schema\/person\/85bd3822e96cc2f15f7e21beb465504e\",\"name\":\"IhuomaChidire\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/kiiky.com\/wealth\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ca0c13460283e7cf7a68a6a377ff8240?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ca0c13460283e7cf7a68a6a377ff8240?s=96&d=mm&r=g\",\"caption\":\"IhuomaChidire\"},\"description\":\"I am a lawyer, human rights activist, and gender advocate. I also write prolifically and identify as a Smart Money Woman. I'm on my journey of financial independence. Also, the most resourceful person you'll find in the room is me.\",\"sameAs\":[\"https:\/\/about.me\/ihuomachidire\",\"https:\/\/www.facebook.com\/ihuomachidire\/\",\"https:\/\/www.instagram.com\/ihuomachidire\/\",\"https:\/\/www.linkedin.com\/in\/ihuomachidire-madu\/\",\"https:\/\/x.com\/IhuomaChidire\"],\"honorificPrefix\":\"Barr.\",\"honorificSuffix\":\"LLB\",\"birthDate\":\"1991-02-25\",\"gender\":\"female\",\"knowsAbout\":[\"Email Marketing\",\"Volunteering\",\"Gender Advocacy\",\"Legal Drafting\",\"Event management\",\"Writing\",\"Speaking\",\"Political & Financial conversations.\"],\"knowsLanguage\":[\"English\",\"basic French\",\"Igbo.\"],\"jobTitle\":\"Partnerships Manager & Legal Adviser\",\"worksFor\":\"Silison Africa Technologies Ltd.\",\"url\":\"https:\/\/kiiky.com\/wealth\/author\/ihuoma\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"How To Start A Corporation | Easy Step By Step Guide","description":"If you're thinking of starting a corporation but don't have any idea on how to start or what a corporation is all about, read this.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/","og_locale":"en_US","og_type":"article","og_title":"How To Start A Corporation | Easy Step By Step Guide","og_description":"If you're thinking of starting a corporation but don't have any idea on how to start or what a corporation is all about, read this.","og_url":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/","og_site_name":"Kiiky Wealth","article_author":"https:\/\/www.facebook.com\/ihuomachidire\/","article_published_time":"2023-11-30T23:43:00+00:00","article_modified_time":"2023-12-02T15:57:36+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg","type":"image\/jpeg"}],"author":"IhuomaChidire","twitter_card":"summary_large_image","twitter_creator":"@IhuomaChidire","twitter_misc":{"Written by":"IhuomaChidire","Est. reading time":"12 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#article","isPartOf":{"@id":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/"},"author":{"name":"IhuomaChidire","@id":"https:\/\/kiiky.com\/wealth\/#\/schema\/person\/85bd3822e96cc2f15f7e21beb465504e"},"headline":"How To Start A Corporation | Easy Step By Step Guide","datePublished":"2023-11-30T23:43:00+00:00","dateModified":"2023-12-02T15:57:36+00:00","mainEntityOfPage":{"@id":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/"},"wordCount":2601,"commentCount":0,"publisher":{"@id":"https:\/\/kiiky.com\/wealth\/#organization"},"image":{"@id":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#primaryimage"},"thumbnailUrl":"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg","articleSection":["Businesses"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/","url":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/","name":"How To Start A Corporation | Easy Step By Step Guide","isPartOf":{"@id":"https:\/\/kiiky.com\/wealth\/#website"},"primaryImageOfPage":{"@id":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#primaryimage"},"image":{"@id":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#primaryimage"},"thumbnailUrl":"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg","datePublished":"2023-11-30T23:43:00+00:00","dateModified":"2023-12-02T15:57:36+00:00","description":"If you're thinking of starting a corporation but don't have any idea on how to start or what a corporation is all about, read this.","breadcrumb":{"@id":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#primaryimage","url":"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg","contentUrl":"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg","width":1280,"height":720,"caption":"Source: canva.com"},{"@type":"BreadcrumbList","@id":"https:\/\/kiiky.com\/wealth\/how-to-start-a-corporation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/kiiky.com\/wealth\/"},{"@type":"ListItem","position":2,"name":"How To Start A Corporation | Easy Step By Step Guide"}]},{"@type":"WebSite","@id":"https:\/\/kiiky.com\/wealth\/#website","url":"https:\/\/kiiky.com\/wealth\/","name":"Kiiky Wealth","description":"Learn How to Build Wealth Online","publisher":{"@id":"https:\/\/kiiky.com\/wealth\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/kiiky.com\/wealth\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/kiiky.com\/wealth\/#organization","name":"The Wealth Circle","url":"https:\/\/kiiky.com\/wealth\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kiiky.com\/wealth\/#\/schema\/logo\/image\/","url":"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2022\/05\/kiiky-lwealth-logo.png","contentUrl":"https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2022\/05\/kiiky-lwealth-logo.png","width":255,"height":60,"caption":"The Wealth Circle"},"image":{"@id":"https:\/\/kiiky.com\/wealth\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/kiiky.com\/wealth\/#\/schema\/person\/85bd3822e96cc2f15f7e21beb465504e","name":"IhuomaChidire","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kiiky.com\/wealth\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ca0c13460283e7cf7a68a6a377ff8240?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ca0c13460283e7cf7a68a6a377ff8240?s=96&d=mm&r=g","caption":"IhuomaChidire"},"description":"I am a lawyer, human rights activist, and gender advocate. I also write prolifically and identify as a Smart Money Woman. I'm on my journey of financial independence. Also, the most resourceful person you'll find in the room is me.","sameAs":["https:\/\/about.me\/ihuomachidire","https:\/\/www.facebook.com\/ihuomachidire\/","https:\/\/www.instagram.com\/ihuomachidire\/","https:\/\/www.linkedin.com\/in\/ihuomachidire-madu\/","https:\/\/x.com\/IhuomaChidire"],"honorificPrefix":"Barr.","honorificSuffix":"LLB","birthDate":"1991-02-25","gender":"female","knowsAbout":["Email Marketing","Volunteering","Gender Advocacy","Legal Drafting","Event management","Writing","Speaking","Political & Financial conversations."],"knowsLanguage":["English","basic French","Igbo."],"jobTitle":"Partnerships Manager & Legal Adviser","worksFor":"Silison Africa Technologies Ltd.","url":"https:\/\/kiiky.com\/wealth\/author\/ihuoma\/"}]}},"featured_image_urls":{"full":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg",1280,720,false],"thumbnail":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-150x150.jpg",150,150,true],"medium":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-300x169.jpg",300,169,true],"medium_large":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-768x432.jpg",768,432,true],"large":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-1024x576.jpg",1024,576,true],"1536x1536":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg",1280,720,false],"2048x2048":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg",1280,720,false],"pk-small":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-80x80.jpg",80,80,true],"pk-thumbnail":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-300x225.jpg",300,225,true],"csco-small":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-80x80.jpg",80,80,true],"csco-intermediate":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-200x140.jpg",200,140,true],"csco-thumbnail":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-380x220.jpg",380,220,true],"csco-thumbnail-alternative":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-300x180.jpg",300,180,true],"csco-thumbnail-uncropped":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-380x214.jpg",380,214,true],"csco-medium":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-800x500.jpg",800,500,true],"csco-medium-alternative":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-560x336.jpg",560,336,true],"csco-medium-uncropped":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-800x450.jpg",800,450,true],"csco-large":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-1160x680.jpg",1160,680,true],"csco-large-uncropped":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-1160x653.jpg",1160,653,true],"csco-extra-large":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg",1280,720,false]},"post_excerpt_stackable":"When you decide to start up a business, one of the things that come to mind is the form your business will take. Are you going to run a sole proprietorship business, a partnership, or a Corporation? A sole proprietorship is a form of business whereby you manage all the assets, liabilities, income, expenses, and daily operations alone. The partnership involves the coming together of one or more people with a common goal, in this form of business, the number of partners should not exceed 20. Starting a corporation means you\u2019re really to delegate duties to people, a corporation is&hellip;\n","category_list":"<a href=\"https:\/\/kiiky.com\/wealth\/category\/businesses\/\" rel=\"category tag\">Businesses<\/a>","author_info":{"name":"IhuomaChidire","url":"https:\/\/kiiky.com\/wealth\/author\/ihuoma\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg",1280,720,false],"thumbnail":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-150x150.jpg",150,150,true],"medium":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-300x169.jpg",300,169,true],"medium_large":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-768x432.jpg",768,432,true],"large":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-1024x576.jpg",1024,576,true],"1536x1536":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg",1280,720,false],"2048x2048":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg",1280,720,false],"pk-small":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-80x80.jpg",80,80,true],"pk-thumbnail":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-300x225.jpg",300,225,true],"csco-small":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-80x80.jpg",80,80,true],"csco-intermediate":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-200x140.jpg",200,140,true],"csco-thumbnail":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-380x220.jpg",380,220,true],"csco-thumbnail-alternative":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-300x180.jpg",300,180,true],"csco-thumbnail-uncropped":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-380x214.jpg",380,214,true],"csco-medium":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-800x500.jpg",800,500,true],"csco-medium-alternative":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-560x336.jpg",560,336,true],"csco-medium-uncropped":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-800x450.jpg",800,450,true],"csco-large":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-1160x680.jpg",1160,680,true],"csco-large-uncropped":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation-1160x653.jpg",1160,653,true],"csco-extra-large":["https:\/\/kiiky.com\/wealth\/wp-content\/uploads\/sites\/4\/2021\/05\/How-To-Start-A-Corporation.jpg",1280,720,false]},"post_excerpt_stackable_v2":"When you decide to start up a business, one of the things that come to mind is the form your business will take. Are you going to run a sole proprietorship business, a partnership, or a Corporation? A sole proprietorship is a form of business whereby you manage all the assets, liabilities, income, expenses, and daily operations alone. The partnership involves the coming together of one or more people with a common goal, in this form of business, the number of partners should not exceed 20. Starting a corporation means you\u2019re really to delegate duties to people, a corporation is&hellip;\n","category_list_v2":"<a href=\"https:\/\/kiiky.com\/wealth\/category\/businesses\/\" rel=\"category tag\">Businesses<\/a>","author_info_v2":{"name":"IhuomaChidire","url":"https:\/\/kiiky.com\/wealth\/author\/ihuoma\/"},"comments_num_v2":"0 comments","gt_translate_keys":[{"key":"link","format":"url"}],"_links":{"self":[{"href":"https:\/\/kiiky.com\/wealth\/wp-json\/wp\/v2\/posts\/6982"}],"collection":[{"href":"https:\/\/kiiky.com\/wealth\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kiiky.com\/wealth\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kiiky.com\/wealth\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/kiiky.com\/wealth\/wp-json\/wp\/v2\/comments?post=6982"}],"version-history":[{"count":7,"href":"https:\/\/kiiky.com\/wealth\/wp-json\/wp\/v2\/posts\/6982\/revisions"}],"predecessor-version":[{"id":60357,"href":"https:\/\/kiiky.com\/wealth\/wp-json\/wp\/v2\/posts\/6982\/revisions\/60357"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kiiky.com\/wealth\/wp-json\/wp\/v2\/media\/8475"}],"wp:attachment":[{"href":"https:\/\/kiiky.com\/wealth\/wp-json\/wp\/v2\/media?parent=6982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kiiky.com\/wealth\/wp-json\/wp\/v2\/categories?post=6982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kiiky.com\/wealth\/wp-json\/wp\/v2\/tags?post=6982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}