How to Form a Washington Corporation: A Step-by-Step Guide?
A comprehensive guide to forming a Washington corporation, including choosing a business name, appointing a registered agent, preparing and filing Articles of Incorporation, issuing stock, and holding an organizational meeting.
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What are the benefits of forming a Washington corporation?
A corporation offers limited liability protection, which means that the personal assets of the shareholders are protected from business debts and liabilities. Additionally, a corporation can continue to exist even if a shareholder dies or leaves the business.
How do I choose a business name for my Washington corporation?
The first step in forming a Washington corporation is to choose a business name that is unique and not already in use by another business. You can search the Washington Secretary of State's website to check if your desired business name is available. If it is, you can reserve the name for 120 days by filing a Name Reservation Application with the Secretary of State.
Who is a registered agent and what is their role in a Washington corporation?
Every Washington corporation must have a registered agent, who is responsible for receiving important legal documents and notices on behalf of the corporation. The registered agent must have a physical address in Washington State and be available during normal business hours to accept service of process.
What are the requirements for preparing and filing Articles of Incorporation in Washington?
The next step is to prepare and file Articles of Incorporation with the Washington Secretary of State. The Articles of Incorporation must include the corporation's name, address, and purpose, as well as the names and addresses of the initial directors and shareholders. You can file the Articles of Incorporation online or by mail.
How do I issue stock to the initial shareholders of my Washington corporation?
After filing the Articles of Incorporation, you must issue stock to the initial shareholders. The number of shares and the par value of each share must be specified in the corporation's bylaws. You can issue stock certificates to the shareholders, which should include the corporation's name, the number of shares, and the par value of each share.
What is the purpose of an organizational meeting for a Washington corporation?
The final step in forming a Washington corporation is to hold an organizational meeting, where the initial directors and shareholders will elect officers, adopt bylaws, and approve the issuance of stock. The meeting must be held within 90 days of filing the Articles of Incorporation.
How long does it take to form a Washington corporation?
Forming a Washington corporation can be a complex and time-consuming process, but it's essential to do it correctly to ensure the success and longevity of your business. By following these steps, you can ensure that your corporation is properly formed and compliant with Washington state law.
