North Dakota Incorporation: Incorporate in North Dakota
North Dakota Incorporation
A business can choose to incorporate in North Dakota if it is created by one or more individuals is certified or granted a charter. This corporation will have its own legal and tax benefits along with separate liabilities from those of its shareholders. A corporation is formed by law and it gets its power of operating in the state of North Dakota by statutes, articles of incorporation, bylaws, and the resolutions and decisions of its shareholders. A business is incorporated for tax and liability issues, generating capital as well as on the type of business.
A corporation has the following characteristics:
- limited liability
- continuity in its existence (unless dissolved or established for a predefined period and the ownership is transferable)
- tax advantages
A North Dakota corporation is formed after filing the articles of incorporation with the Secretary of State of North Dakota based on Business Corporation Act of North Dakota. The corporation comes into existence only after filing of this Articles of Incorporations or at a date indicated in the Articles of Incorporation which cannot be later than 90 days from the date of filing.
The purpose of the business corporation is to do business in a specific area and generate revenue for the shareholders. The purpose can be anything other than banking, farming or insurance. If the corporation doing business in North Dakota wants to use a trade name, it needs to file a Trade Name Registration with the Secretary of State of North Dakota. This trade name should be different from the corporate name.