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Asset Protection from Liability. Incorporating in California offers protection for Officers and Directors from personal liability against any lawsuits or business debts arising from the operation of the corporation or by actions committed on behalf of the corporation. The extent of liability exposure is limited to the amount of initial investment. Stock Flexibility. California corporations may sell, transfer, gift, or purchase shares of it's own corporate stock. A corporation may issue stock for cash, property and services.

The decision to incorporate yourself or your company in California should be based on the business goals for your company, where you intend to conduct the business, and where you intend to bank and establish financial/credit footholds. If the vast majority of your business is to be conducted within the state, and you intend to open an account and establish lines of credit with a California bank, then it is easy to determine that this is the state you should incorporate in.

The formation begins with the filing of the appropriate documents with the appropriate state agency. Once your LLC is filed, you should create and then adopt an operating agreement (we provide assistance with this--Companies Incorporated delivers a comprehensive LLC operating agreement with each formation package) that is used to govern your company. The operating agreement is a legal document wherein the management type, ownership and interest, allocation of power and many other forms of company operations are described in legal detail.

A Professional Corporation is an incorporated business structure formed by individuals or groups of individuals that would other wise be exclude from corporate formation eligibility. These professionals include doctors, lawyers, accountants, engineers, etc., thought the list will vary in small detail state by state. The group must be organized with the intent of providing professional services, and must consist of professionals licensed to practice their particular profession.

An S Corporation is an incorporated business structure that is formed in such a way as to comply with sub-chapter S of the Internal Revenue Code. Limited to 100 shareholders in most states, the S Corporation provides for the limited liability of a standard Corporation, and couples it with the pass-through taxation of a partnership. This means that the shareholders avoid the pitfalls of double-taxation, where income is first taxed a the company level, then again at the individual level, while at the same time providing for the limited liability protection of a Corporation.

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