ir4u4[at]yahoo.com (Equis Uno) wrote

- quote -

Then make sure the name is available. Reserve the name if
there is a chance someone else may take it before you get
your articles on file.

- quote -

The corporation can only spend money it gets in exchange for
stock for as loans. But loans are limited to three or four
times the amount contributed for capital. So be sure you
know what you will need.

- quote -

You can do that by telephone or internet and get the number
issued immediately.

- quote -

The state has a template that should be followed. Go to the
California Secretary of State website, http://www.ss.ca.gov/

- quote -

Send them an original and two copies. They will return the
copies to you as filed. If you file it by hand at any of
the satelite offices outside of Sacramento, you will have to
give them an extra copy.

- quote -

Before you issue stock you have to give notice to the
Department of Corporations that you will be issuing stock,
the approximate amount of consideration paid for the stock,
and that the issuance of stock is exempt from registration
under the securities laws. Normally your exemption will be
under either section 25102(f) or 25102(h) of the California
Corporation's Code.

- quote -

In addition to the Articles of Incorporation (and the Notice
of Transaction filed with the Department of Corporations),
they give you a form called Statement by Domestic Stock
Corporation, where you have to list the officers and
directors of the company. That must be filed within 90 days
of incorporation or you could be liable for a $250 penalty.

Additionally, you will need to develop initial minutes for
the corporation appointing directors, adopting bylaws,
electing officers, declaring the corporation's tax year,
adopting a time for an annual meeting and develop a plan to
issue stock, among other things relevant to your particular
business.

Stu

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I'd like to write up a simple checklist to be followed when
I create my C corporation (in California).

I list below some items I know which need to be on the checklist:

-Decide on a suitable name which is obviously unique.
Ex: Y Buy Donuts Software Services, Inc.

-Obtain a physical address

-Fund the C corporation with some initial money to pay for
simple expenses like fees, postage and photocopies.

-Fill out an IRS form SS-4 to obtain a TaxID (aka EIN) for
the TP. On the SS-4 line 8a, I specify that the
coroporation will file form 1120.

-I file the SS-4 and wait for a response from the IRS.
Eventually the IRS responds by issuing an EIN (aka TaxID)
to the C corporation.

-Find an 'Articles Of Incorporation' template and fill it
out such that I take on all the officer roles in the C
corporation like President, Treasurer, Secretary.

-Establish a calendar for the officer so he will do things
like hold board meetings and file taxes.

-File 'Articles Of Incorporation' with the State with
appropriate fees.

-Issue stock to myself.

-Work hard and generate profits

-File tax returns every March

This is what I have so far.
Alert me if I obviously left anything out.
Also I'm a bit fuzzy about the exact paperwork I must
submit to the CA Secretary of State.

-moi

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