| CALIFORNIA |
| Name |
Must contain words Incorporated, Corporation Inc., Corp., Limited Liability Company, LLC, Ltd. or Co.To use a fictitious name, the filling fee depends on the county where filed. |
| Information about Directors and Officers |
Minimum number is 3. However, if the company has less than three shareholders, the number of directors may be less than 3, but not less than the number of shareholders. No requirements for residence. Age - at least 18 years old. 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 or Office street can be considered as company address. P.O. Box is not admissible. |
| Registered Agent |
Agent for Service of Process is required if you do not live or have an office in California. Otherwise, you can be your own Agent for Service of Process. |
| Shares/Stock information |
Number of shares is a matter of discretion. Initial filing fees do not change with an increase in shares or par value. |
| Annual statement |
Domestic Corporation must file with the Secretary of State within 90 days after filing the Articles or Incorporation. A Statement of Domestic Stock Corporation must be filed annually by the end of the calendar month during which the original Articles of Incorporation were filed. The cost is $20. |
| State fees |
State fee is $100 plus $15 expediting filing fee with State Secretary. |
| Income tax rate |
8.84% of net income for Corporations and 1.5% of net income for S Corporations. |
| Franchise tax |
Minimum franchise tax is $800 even if your Corporation does not have net income. Companies that incorporate qualify as foreign Corporations in the State on or after January 1, 2000 and are exempt from prepayment of franchise tax at the time of filing and are exempt from the minimum tax for its first tax year. However, taxes based on income must be paid during this first year. |
| S Corporations |
Status is recognized by the State. The Corporations are still required to pay franchise taxes at a rate of 1.5% of net income. A separate State election is required. |
| License requirements |
The State may require that you obtain a business license and pay a licensing fee based on your business type or profession. Check with the State to make sure your business is complying with the license requirements for your particular profession. |
| Corporate records |
An original or copy of Bylaws must be kept at the principal executive office or principal business office in the State. The minutes of directors and shareholders meetings must be kept in the principal office. |
