Sole proprietorship. This is the simplest and most common structure for many businesses. The individual operator collects all the profits, but is also responsible for all the obligations and debts of the business. General partnership. This is a business formed by two or more partners, who agree to share the costs and responsibilities of operating the business. Corporation. A corporation is a separate legal entity. The corporation itself is responsible for any losses or obligations. Profits of the corporation are either returned to the corporation as operating costs or are paid out as dividends to shareholders. Limited liability company (LLC). An LLC is similar to a corporation in that it separates the owners from the losses or obligations of the business. There are special tax treatments for LLCs that differ from corporations. Limited partnership. A limited partnership is formed by two or more individuals (these may be people or could be other legal entities like corporations). A limited partnership contains both limited partners and general partners, with the general partners sharing the costs and obligations of the business.
Be as precise as you can when entering search terms. For example, a search for “Tarheel” produced over 1,000 responses. However, a search for “Tarheel Business Transportation Corp. ” reported no conflicts at all.
Complete the application form for the reservation, and then submit it by mail to the Secretary of State’s Office, Corporations Division, P. O. Box 29622, Raleigh, NC 27626-0622. Include a filing fee of $10, by check made payable to the Secretary of State. The name reservation is valid for ten years.
The provided form is not specifically required. You may create your own Articles of Incorporation, if you wish. The provided form includes the minimum information that is required to create a corporation in North Carolina. You may wish to consult with an attorney to determine if you wish to include additional terms.
a statement of the purpose of the corporation the names and addresses of the initial directors of the corporation provisions relating to the management structure of the corporation provisions that limit, regulate or define the powers and duties of directors, officers, or managers provisions defining the rights and responsibilities of shareholders provisions that limit personal liability of directors of the corporation for their official duties
If the Articles of Incorporation are prepared and filed by an attorney acting for the corporation, the attorney should indicate with the signature that he or she is acting in the capacity as attorney.
If you are filing by mail, you should include a copy of the Articles of Incorporation. The copy will be certified as received and will be returned to the address provided for the incorporator.
