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BUSINESS INCORPORATIONS

A corporation or a C Corp is a legal “entity” that is separate from its owners/shareholders, its officers and its board of directors for income tax and liability purposes.  As such, a corporation’s owners/shareholders have limited liability and are not typically personally liable for the corporation’s debts.

A Subchapter S corporation, also called an S Corp, is a legal “entity” that is separate from its owners/shareholders, its officers and its board of directors for income tax and liability purposes. Therefore, S Corps also offer limited liability protection for their owners and officers.   However, an S Corp requires the owners/shareholders to hold a special election to have their income treated as partnership income and taxed to the owner’s individual tax forms. An S Corp is only available to businesses with 75 or fewer shareholders who must all be U.S. citizens or resident aliens.

SERVICES FOR BUSINESS INCORPORATIONS

At Noorani & Villar, we provide full services in incorporating your business, including conducting a search for availability of your proposed Corporate name with the Illinois Secretary of State, preparing and submitting the Articles of Incorporation with the State of Illinois, recording your Articles of Incorporation with the County Recorder, providing corporate record book including corporate seal and stock certificates, prepare stock certificates for corporate shareholders, preparing corporate by-laws,  prepare employee expense reimbursement agreements, and obtaining an FEIN (Federal Employer Identification Number) from the IRS.

Please contact Noorani & Villar, P.C. if you wish to incorporate your business.

DISCLAIMER: The information provided on this website is a basic overview of Noorani & Villar, P.C.’s areas of practice. It is intended for advertising purposes only and may or may not be correct, complete or current at the time of reading. The contents of this website do not constitute as legal advice and must not be used as a substitute for attorney legal advice or opinion. No Attorney-Client Relationship is created by anything on this site unless an Engagement Agreement is fully executed by both Attorney and Client. Please seek detailed legal advice regarding your specific facts and circumstances before acting on any legal matter.

NOORANI & VILLAR, P.C. located at 1900 East Golf Road, Suite 950 , Schaumburg, IL . Reviewed by JA rated: 5 / 5