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North Carolina
Corporate Name Endings
- The name must
contain the word "Corporation," "Incorporated," "Company," Limited,"
or the abbreviation "Corp.," "Inc.," "Co.," or "Ltd." Names may not
contain language stating or implying the corporation is organized for
purposes not permitted by the Act and its articles. The name must be
distinguishable from the name of any domestic, foreign, or nonprofit
corporation, or the reserved or registered name of a limited liability
company or partnership.
Corporation Requirements
- Director Information
- Minimum Number - One or more.
- Residence Requirements - No provision.
- Age Requirements - None.
- Directors are
not required to be listed in the articles of incorporation.
- Officer Information
- Officers are
not required to be listed in the articles of incorporation.
- Stock Information
- An increase
in shares or par value does not affect initial filing fees.
- Corporate Records
- The articles
of incorporation, bylaws or restated bylaws, resolutions, minutes,
written communications, financial statements to shareholders, names
and business addresses of current directors and officers, and most
recent annual report must be kept at the principal office of the
corporation.
Taxes and Fees
- Annual Statements
- Domestic and
foreign corporations authorized to transact business in North Carolina
must file a Business Corporation Annual Report with the Secretary
of State within 60 days following the last day of the month in which
the corporation was incorporated (or received a certificate of authority).
The filing fee is $20.
- Income Tax Rate
- The income
tax rate is 6.9% of net income allocated and apportioned to North
Carolina. Payment must be made by the 15th day of the third month
following the end of the corporation's tax year.
- Franchise Tax
- A franchise
tax is also assessed on all corporations including S corporations.
The rate is $1.50 per $1,000 of issued and outstanding capital stock,
surplus and undivided profits allocable to North Carolina. The minimum
tax is $35.
- S Corporation
- S Corporation
status is recognized by the State of North Carolina. A separate
state election from the federal election is not required.
- License Requirements
- North Carolina
requires most businesses to obtain a license and pay a fee if operating
in the state. Please check with the state to make sure your business
is complying with the license requirements for your particular profession.
For more information on taxes, visit
http://www.dor.state.nc.us/.
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