California Company Incorporation
California is the most populous state in the United States. It is also the third most extensive by area. Los Angeles, in southern California, is the state’s most populous city and the country’s second largest after New York City. California also includes the nation’s most populous county, Los Angeles County, and the largest county by area, San Bernardino County. Geographically located in the western part of the United States, California is bordered by the other United States of Oregon to the north, Nevada to the east, and Arizona to the southeast. California shares an international border with the Mexican state of Baja California to the south and the Pacific Ocean is on the state’s western coastline. The state capital is Sacramento, which is located in the northern part of the state. A majority of California’s cities are located in either the San Francisco Bay Area or the Sacramento metropolitan area in northern California; or the Los Angeles area, the Riverside-San Bernardino-Inland Empire, or the San Diego metropolitan area in Southern California.
The economy of California is large enough to be comparable to that of the largest of countries. As of 2016, the gross state product (GSP) is about $2.514 trillion, the largest in the United States. California is responsible for 13.9 percent of the United States’ approximate $18.1 trillion gross domestic product (GDP). The five largest sectors of employment in California are trade, transportation, and utilities; government; professional and business services; education and health services; and leisure and hospitality. In output, the five largest sectors are financial services, followed by trade, transportation, and utilities; education and health services; government; and manufacturing.
Company formation in California
Every state has distinctive prerequisites for shaping a company. Whether you are beginning a business or consolidating a business as of now in presence, you’ll need to comprehend state prerequisites for California Company formation.
Choose a Name for Company
Name endings are not required to be utilized as a part of the corporate name unless the corporation is being documented as an expert corporation or close corporation, or in the event that it is utilizing a man’s name. In such cases, the name must end with “Corporation,” “Company,” “Incorporated,” “Limited” or a shortened form thereof. The name must not be probably going to misdirect general society. It must not be the same as, or look like so intently as to prompt to misleading, the name of a residential or qualified outside corporation, a name under reservation or the enrolled or accepted name of a remote corporation. The name needs Superintendent of Bank’s endorsement on the off chance that it contained the words “Bank,” “Banc,” “Trust” or “Trustee.”
The following are California’s requirements for directors of corporations:
Minimum number: Corporations are required to have not less than three directors unless (1) shares have not been issued, then the number can be one or two, (2) the corporation has one shareholder, then the number can be one or two, or (3) the corporation has two shareholders, then the number can be two.
Residence requirements: California does not have a provision specifying where directors must reside.
Age requirements: California does not have age requirements.
Inclusion in the Articles of Incorporation: Director Names and addresses are not required to be listed in the Articles of Incorporation.
Articles of Incorporation Info
The record required to frame a corporation in California is known as the Articles of Incorporation. The data required in the development archive shifts by state. California’s prerequisites include:
Officers: Officer Names and delivers are not required to be recorded in the Articles of Incorporation.
Stock: Approved shares and standard esteem must be recorded in the Articles of Incorporation. An increase in the quantity of shares or standard esteem does not influence beginning recording expenses.
Registered Agent: Corporations must rundown the name and address of an enrolled operator with a physical address (no mail station boxes) in California. The enlisted operator must be accessible amid typical business hours to acknowledge essential lawful and assessment records for the business.
Other filings required
Some states require additional filings or steps at the time of incorporation, such as a county level filing, publishing notice of the incorporation in a local newspaper or an initial report filing. California requires the following:
- Initial report. California requires corporations to file a Statement of Information within 90 days of incorporation.
Professional services businesses
California allows professionals, such as accountants, attorneys and physicians, to form a professional corporation (PC).