Steps to Forming a Pennsylvania Corporation
Information We Need From You to Start Your Corporation
1: Select a Name: Your company name must include a corporate designator: Corporation, Incorporated, Limited, Company, or an abbreviation of one of those words.
2: Authorize Shares: Corporations are owned by shareholders. A shareholders owns shares of stock in the company, which designate ownership and give them voting rights. Pennsylvania requires you to determine an initial number of authorized shares. Most of the time, you would authorize a small number of shares, say 100, and then issue 51% of those shares to yourself at the first shareholders meeting. The remaining shares can be held for future business partners.
3: Choose Management: A corporation is managed by its Directors. The Directors are responsible for setting company policies, determining salaries and bonuses, issuing additional stock, and appointing the corporate officers (President, Secretary, Treasurer). Typically, you would appoint yourself the sole Director and take on the roles of the corporate officers.
4: Remaining Info Needed to File:
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Commercial Registered Office Provider: a legal commercial registered office provider (also known as a registered agent) must maintain a physical street address within the state. This is called a registered office, and it cannot be a PO box. All of our Speedy filings come with one free year of Pennsylvania commercial registered office service by Northwest Registered Agent. This service keeps your private home and office addresses out of the public record and fulfills your registered office, mailing and principal office requirements.
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Effective date: if you want the official date of your formation to be a later than your filing date, you can specify a future day and hour (not to be more than 90 days after filing).
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Business activity: the lawful business your corporation will pursue.
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Fiscal year end: the ending date of your fiscal year.
Form Your Corporation Here Online
Steps to Forming a Pennsylvania LLC
Information We Need From You to Start Your LLC
1: Select a Name: Your company name must include one of the following designators: Company, Limited, Limited Liability Company, or an abbreviation of these words. If you want to see if your company name is currently available, you can do a Pennsylvania business name search.
2: Membership: The owners of an LLC are known as members. They are not given shares of stock, as they would be in a corporation. Instead, members receive an ownership percentage. The percentage is usually in direct proportion to how much a member has invested in the company.
3: Choose Management: LLCs are typically managed by their members. The members oversee company policy and engage in the daily business operations. However, in some cases, an LLC will choose to appoint a manager to run the company. Managers may be members, or they can be outside parties.
4: Remaining Info Needed to File:
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Commercial Registered Office Provider: a legal commercial registered office provider must have a physical street address within the Commonwealth of Pennsylvania. This is called a registered office, and it cannot be a PO box. All of our Speedy filings come with one free year of Pennsylvania commercial registered office service. This free service keeps your personal home and office addresses off the public record and fulfills your registered office, mailing and principal address requirements.
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Management: whether your company is managed by your members or by a manager.
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Effective date: if you want your LLC’s official formation date to be later than your filing date, you can specify a particular day and hour in the future (no more than 90 days after filing).
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Business activity: the lawful business your LLC intends to perform.
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Fiscal year end: the ending date of your fiscal year.
Form Your LLC Here Online
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