| PENNSYLVANIA |
| Name |
Must contain words Incorporated, Corporation, Company, Inc., Corp., Co., Limited Liability Company, Limited or Ltd. Fictitious name fee is $52. After receiving certified copy of articles, you are required to place a notice of incorporation in two newspapers. |
| Information about Directors and Officers |
Company must have at least one Director. 18 years of age or older and no residence requirements. One director can hold all officer positions. It is not required to list Directors and Officers in the Articles of Incorporation. |
| Requirements for address |
Home address can be considered as company address. P.O. Box is not admissible. |
| Registered Agent |
Registered Agent is required if you do not live or have an office in Pennsylvania. Otherwise, you can be your Own Registered Agent. |
| Shares/Stock information |
Authorize all shares you want. No extra filing fees based on number of shares or amount of par value. |
| Annual statement |
The tax is based on each dollar of the Corporations' capital stock value. The rate is reduced to 7.49 mills for the 2001 tax year, and is further reduced by one mill for each thereafter until it reaches zero in 2009. |
| State fees |
$100 filing fee. |
| Income tax rate |
9.9% of taxable income. |
| Franchise tax |
Net worth basis. Capital stock value is (1) the product of one-half times the sum of a Corporation's average net income capitalized at 9.5% plus 75% of such Corporation's net worth (2) minus $100,000 [72 P.S. §7601]. Algebraically, capital stock value equals [(.5) ((average net income /. 095) + (.75 (net worth)) - $100,000)]. Net worth is the sum of the Corporation's issued and outstanding capital stock, surplus, and undivided profits as of the close of the tax year. Minimum tax is $300. |
| S Corporations |
Status is recognized by the State. Separate State election from the federal election is not required. However, Pennsylvania imposes a franchise tax on S Corporations. |
| License requirements |
Certain types of businesses must obtain a license and pay a fee if operating in the State. Check with the State to make sure your business is complying with the license requirements for your particular profession. |
| Corporate records |
The stock transfer ledger must be kept at the principal office of the Corporation. |
