A Corporation is created by submitting articles of incorporation for an organization, which may be a profit-making business or a nonprofit entity that operates for charitable, social, religious, or educational purposes to the Secretary of State, appointing a board of directors, holding a first meeting of the board of directors to launch the enterprise, and issuing stock according to state laws and regulations of the Securities and Exchange Commission. The creation of a corporation provides the owners/shareholders with shelter from the debts of the corporation, provides for an organized governance structure and can simplify the transfer or sale of the business. Small businesses that incorporate normally choose to be treated as a Subchapter S Corporation which allows them to treat the income and expenses of the corporation as if they were the income and expenses of the owners despite the incorporation of the business.
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