Incorporating your business is essential to ensure its longevity and success. By becoming a legal entity, you protect your personal assets and establish credibility among clients, investors, and vendors.
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In the state of Ohio, filing articles of incorporation is necessary to create a business entity known as a corporation. In this guide, we will navigate you through the step-by-step process to file Ohio articles of incorporation.
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Step 1: Name Search
Before filing articles of incorporation, you must choose a unique name for your business (Section 1701.03 of the Ohio Revised Code). Therefore, your first task is to conduct a thorough name search of the Ohio Secretary of State's database to ensure that no other business is registered under your chosen name.
To search for business names online, visit the Ohio Secretary of State's website and navigate to the [Business Database Search Page]. Type in the name you want to use; using a minimum of three words for the name yields better search results. The database will give you a list of business names that match or partially match the name you entered.
If your chosen name is not available, you will have to select another name or file for a name reservation that will give you up to 180 days to complete the incorporation process.
Step 2: Filing Requirements
You must provide several documents to file articles of incorporation (Section 1701.09 of the Ohio Revised Code). First, you will need to prepare a cover letter or a transmittal document with your company's legal name, contact information, a brief statement on incorporating the business, and the number of copies you are submitting.
You can file the articles of incorporation electronically or via mail with the Ohio Secretary of State's office. File using the [Ohio Business Central website]. You can also use paper forms to file via mail or in-person.
Below are the requirements for both electronic and paper filing:
Electronic Filing
* An Ohio E-ID Account
* Credit Card number or an ACH payment system
* Completed Articles of Incorporation form
Paper Filing
* A completed original Articles of Incorporation form
* A duplicate or triplicate copy of the Articles of Incorporation
* Check or money order for filing fee
As of August 2021, the filing fee for articles of incorporation is $99 in Ohio.
Step 3: Incorporation Documents
As per Section 1701.06 of the Ohio Revised Code, specific information must be provided in the articles of incorporation document to establish your corporation:
* Your corporation's legal name and Ohio-approved business name
* Corporation's statement of business purpose
* Registered agent
* Share authorization and structure
* Incorporators names & addresses
Corporation Name & Business Purpose
The most critical step in this process is writing the appropriate name and purpose. The natural consequences that will follow are immense, making it imperative to draft your corporation's legal name and statement precisely. The premise of incorporating your business will lie on your corporation name. Here are guidelines to keep in mind as Ohio applies strict naming requirements:
* The corporation’s name must include a corporate designator such as “Inc.,” “Incorporated,” “Ltd.” etc.
(do check the exact specifications for the Ohio revised code.)
* Your name should not be substantially the same as that of another corporation authorized to do business in Ohio
* The articles of incorporation must include the exact name utilized in the application letterhead and additional filings — inconsistency will lead to objections and may result in longer processing times, penalties, and numerous errors.
Registered Agent and Office
Another critical aspect is finding and naming a registered agent:
* The agent must be an Ohio resident, a foreign corporation(s) authorized to conduct business in Ohio
* The current office address should be provided.
Shares Authorization and Structure
The number and division of the corporation's shares should be specified in the Articles. This outlines who is an associate, how many shares they hold & how these shares are divided when time arises.
The Incorporator(s) and board
A name and Residences must be provided for all of the incorporator(s). Even though the incorporated company's direction into the future might deter equal input from individuals involved at the beginning, by recognizing your assembled charges, you have identified your essential station & planted essentials and values.
Step 4: Filing the Ohio Articles of Incorporation
Suppose you received approval on your legal and business names, completed all the required documents, and paid the relevant fee. In that case, you can apply electronically or via postal mail via Ohio Business Central. It is critical that you consult legal counsel to assess and negotiate contractual objectives, navigate potential issues, revenue recognition proposals and a dozen more details as they arise.
Step 5: Corporate Governance
After filing and establishing your corporation, you must establish its bylaws, certify taxes, elect your board of directors, and file an initial report. Check with federal, state and memorialize statutory requirements and legal structure.
# Conclusion
Incorporating your business contributes to building credibility and protects your assets to your clients and the state in which you presently set up residence. Establishing your business on a continuous path with help from experts while filing your Ohio Articles of Incorporation is paramount. Otherwise, minor errors can cause thorough holdups in processing results, heavy penalties or fines or postponed approval times leading to strains in generating income vital to scalability. Turning these initial knots tied, will pave the walking ground for favorable correlations for decades to come.
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