Georgia Company Incorporation
Georgia is a state in the southeastern United States. It was established in 1733, the last of the original Thirteen Colonies Named after King George II of Great Britain, Georgia was the fourth state to ratify the United States Constitution, on January 2, 1788. It declared its secession from the Union on January 19, 1861, and was one of the original seven Confederate states. It was the last state to be restored to the Union, on July 15, 1870. Georgia is the 24th largest and the 8th most populous of the 50 United States. From 2007 to 2008, 14 of Georgia’s counties ranked among the nation’s 100 fastest-growing, second only to Texas. Georgia is known as the Peach State and the Empire State of the South. Atlanta is the state’s capital and most populous city and is a named global city, also called world city or sometimes alpha city or world center, a city generally considered to be an important node in the global economic system.
Georgia’s 2010 total gross state product was $403 billion. Its per capita personal income for 2011 put it 39th in the nation at $35,979. For years Georgia as a state has had the highest credit rating by Standard and Poor’s (AAA) and is one of only 15 states with a AAA rating. If Georgia were a stand-alone country, it would be the 28th largest economy in the world. There are 15 Fortune 500 companies and 26 Fortune 1000 companies with headquarters in Georgia, including such names as Home Depot, UPS, Coca-Cola, Delta Air Lines, Aflac, Southern Company, Anthem Inc. (one of the largest health benefits companies), Honeywell, and SunTrust Banks.
Company formation in Georgia
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 Georgia Company formation.
Corporations, regardless of size, must follow certain rules and regulations set forth by their state government. These regulations ensure the business is operating as its own entity outside of its owners. This includes the existence of a board of directors, board meetings, and carefully kept records of all business activities.
Choose a Name for Company
The corporation’s name must include “Corporation,” “Company,” “Incorporated,” “Constrained” or a shortening thereof. It must not surpass 80 characters, including spaces and accentuation. It may not contain dialect expressing or inferring the corporation is composed for a reason other than that allowed by Georgia law or the Articles of Incorporation. It must be discernable from the other corporation names in the state. Utilization of words, for example, “Bank,” “Credit Union,” “Insurance” and “Trust” require endorsement by other state divisions and additionally commissioners.
The following are Georgia’s requirements for directors of corporations:
Minimum number: Corporations must have one or more directors.
Residence requirements: Georgia does not have a provision specifying where directors must reside.
Age requirements: Directors must be at least 18 years old.
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 Georgia partnership is known as the Articles of Incorporation. The data required in the development report shifts by state. Georgia’s necessities 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 expansion in the quantity of shares or standard esteem does not influence beginning recording charges.
Registered Agent: Organizations must rundown the name and address of an enrolled operator with a physical address (no mail station boxes) in Georgia. The enlisted operator must be accessible amid ordinary business hours to acknowledge vital lawful and assessment reports for the business.
If you plan on incorporating a nonprofit, Articles of Incorporation are still a requirement. Non-profit Articles of Incorporation are very similar to Articles of Incorporation for corporations being operated for profit; however, you must include whether or not you will have members.
Other filing required while incorporating
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. Georgia requires the following:
- Initial report. Georgia requires corporations to file an initial report (Initial Annual Registration) within 90 days of incorporating.
- Publication requirement. Georgia requires corporations to publish notice of the incorporation in the county of the corporation’s registered agent. The publication must be forwarded for publication no later than one business day after the incorporation date with the Secretary of State.
Professional services businesses
Georgia allows professionals, such as accountants, attorneys and physicians to form a professional corporation (PC).