How to Start a Corporation in Missouri: A Legal Guide

How to Start a Corporation in Missouri: A Legal Guide

Starting a corporation in Missouri can be a rewarding venture, allowing you to limit personal liability and potentially enjoy tax advantages. This guide will walk you through the essential steps to establish your corporation in the Show-Me State.

Step 1: Choose a Corporate Name

Your corporation's name must be unique and not already in use by another business in Missouri. It should also include a designation such as "Corporation," "Incorporated," or abbreviations like "Corp." or "Inc." You can check name availability through the Missouri Secretary of State's website.

Step 2: Designate a Registered Agent

A registered agent is an individual or business entity responsible for receiving legal documents on behalf of your corporation. This agent must have a physical address in Missouri and be available during regular business hours. Choose someone reliable who understands the importance of timely communication.

Step 3: File Articles of Incorporation

To officially form your corporation, you must file the Articles of Incorporation with the Missouri Secretary of State. This document typically includes:

  • The corporation's name
  • The purpose of the business
  • The registered agent's name and address
  • The number of shares your corporation is authorized to issue
  • The names and addresses of the incorporators

The filing fee is generally around $50 for online submissions and may vary for paper filings. Ensure you keep a copy of this document for your records.

Step 4: Create Corporate Bylaws

Bylaws are essential governing documents for your corporation. They outline the rules for operating the corporation, including the roles and responsibilities of shareholders, directors, and officers. While bylaws do not need to be filed with the state, they are critical for internal governance and can help resolve disputes down the line.

Step 5: Hold an Organizational Meeting

After incorporating, it's crucial to hold an organizational meeting to adopt the bylaws, appoint directors, and handle other necessary formalities. This meeting should be documented in the minutes, which you should keep in your corporate records.

Step 6: Obtain Necessary Licenses and Permits

Depending on your business type and location, you may need specific licenses and permits to operate legally. Check with local and state agencies to ensure compliance with regulations, such as zoning laws, health regulations, or professional licenses.

Step 7: Apply for an EIN

An Employer Identification Number (EIN) is necessary for tax purposes, especially if you plan to hire employees. You can obtain an EIN for free by applying through the IRS website.

Step 8: Comply with Ongoing Requirements

Once your corporation is established, Missouri requires ongoing compliance, including:

  • Filing an annual report with the Secretary of State
  • Maintaining corporate records, including meeting minutes and bylaws
  • Paying any applicable taxes

Failing to comply with these requirements could jeopardize your corporation's good standing.

Conclusion

Starting a corporation in Missouri involves several steps, from selecting a name to maintaining compliance. By following this legal guide, you can navigate the process and set your business up for success in the ever-evolving marketplace.

Always consider consulting a legal professional for tailored advice and to ensure you meet all legal obligations. Good luck with your new corporation!