South Dakota Incorporation: Incorporate in South Dakota
South Dakota Incorporation
Business owners are able to incorporate to keep their personal assets safe from business debts and liabilities. In South Dakota, you can form and manage a incorporation which will help to handle your business effectively without worrying about losing certain assets due to mismanagement.
Reasons to form a South Dakota Corporation
- Less risk from personal liability for business debts
- No fear of closing the corporation due to reasons like death of the owner or their leaving the business
- No restriction on the number of C-Corporation shareholders. There is no need for all of them to be U.S. citizens or permanent residents
Requirements for South Dakota Filing
- The corporation can be formed directly with the state without the signature of the owner
- The filing is done within 2 weeks
- The corporation can also be nonprofit and can be formed with the help of the Secretary of State
The various documents needed to form a corporation in South Dakota are: Steps to Incorporate, Articles or Certificate of Incorporation, By-Laws, Organizational Minutes, Annual Minutes, Notices, Resolutions, Stock Transfer Ledger, Simple Stock Certificate, IRS Form SS-4 to Apply for Tax Identification Number, and IRS Form 2553 to Apply for Subchapter S Tax Treatment. Also, various minutes, notices and bylaws are needed after incorporation.