How To Form A Corporation In Kansas

Key takeaways

Get to know the necessity of a distinctive name for your company that conforms with Kansas's branding laws.
Learn how to send your articles of incorporation and registration cost to the Kansas Secretary of State.
Importance of an authorized representative with a Kansas residence.
Procedure for obtaining all permissions and permits required for the running of your company.
Importance of company rules and call an election for officers and directors at the organizational gathering.
Understand EIN and tax rules.

Choose a Corporate Name

Selecting the ideal corporate name can be crucial in building your identity.

Name Availability Search

For incorporating in Kansas, visit the Kansas Secretary of State's Business Entity website to perform a name availability check. You can input the company name you'd like to use and check the database to see if it's already taken. Selecting a name that is distinctive and different from other company names already used in the state is crucial.

Appoint a Registered Agent

The appointment of a Registered agent in Kansas is a crucial stage in the company formation process in Kansas. This includes documents like tax notices, court summonses, and other formal communication.

Who Can Be a Registered Agent in Kansas ?

The representative is chosen to accept law and corporate correspondence on your corporation's behalf.

Any Kansas resident and any company licensed to conduct business in Kansas may serve as a registered agent. To receive essential papers and messages, the authorized representative must have an actual location in the state and be accessible during regular business hours.

As the person who will receive crucial legal and financial papers for your company, your registered agent should be trustworthy.

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File Articles of Incorporation

The next step for Kansas business registration is to submit the Articles of Incorporation with the Kansas Secretary of State after deciding on a name for your Kansas company and appointing an authorized representative. This document formally registers your corporation with the state.

How to File Online or by Mail ?

Online filing

Visit the Kansas Secretary of State's website and register.
"Business Entity Formation" is the option under "File Now" in the drop-down selection.
Select "Articles of Incorporation" and follow the instructions to enter the necessary details.
Use a credit card to pay the $90 registration charge.
Examine your application, then send it. A confirmation text will be sent to you once your registration has been completed.

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Mailing Paperwork:

You can obtain the Articles of Incorporation document online at the Kansas Secretary of State website.
Fill the form with the required details.
Make the $125 registration charge payable to the "Kansas Secretary of State" on a cheque or money order.
Send the finished application along with your money to the following address:

120 SW 10th Avenue, 1st Floor, Kansas Secretary of State Memorial Hall Topeka, Kansas 66612-1594

Await notification that your registration has been completed from the Kansas Secretary of State.

Draft Corporate Bylaws

Drafting Kansas corporate bylaws is the next stage in forming your company after submitting your articles of incorporation and receiving your certificate of incorporation from the Kansas Secretary of State.

Importance of Bylaws

Bylaws help members of your company comprehend the policies and processes that control it, which can help avoid mistakes and uncertainty.
Your corporation's bylaws clearly outline the duties and obligations of officers and directors and the processes for making decisions and resolving conflicts.
Bylaws must comply with Kansas state law, so having them in place can help ensure your company functions legally. They also help ensure conformance with federal law.
By defining protocols for handling conflicts of interest, voting procedures, and other crucial information, bylaws can help safeguard the company.

What to Include in Bylaws ?

A description of the objectives, aim, and purpose of the organization.
Establish the requirements for membership, the procedure for joining, and the rights and responsibilities of members if your company will have them.
Establish the composition of the board of directors, including the number of members, their terms of office, and the methods used to elect and dismiss members.
Define the functions and duties of the various officials, including the president, vice president, clerk, and cashier.
Meetings: Specify the rules for the board of directors and group meetings, how often they will occur and how to schedule them.
Voting: Specify the voting procedures and requirements, such as the votes needed to approve a motion.
Financial Issues: Discuss money-related issues, such as how the company will collect and disperse money and manage its assets.
Clause: Include a clause that allows the bylaws to be amended in the future.

Appoint Initial Directors and Hold First Board Meeting

A new corporation's initial directors should be chosen, and the first board conference should be held as one of the first stages.

Legal requirements for holding board meetings

When having board meetings, regulatory requirements must be adhered to.

All of your board members must receive adequate notification of the meeting, a majority of the board must be present to conduct business, and the session must be properly recorded, including minutes detailing the decisions and actions.
The board must abide by state and federal laws that may be in force, including securities laws and laws about corporate administration.
The conduct of all board sessions must therefore be by the relevant law standards.

How to hold a board meeting ?

Select a convenient time and place for all board members, and then convene a meeting after sending out the schedule. Several crucial subjects must be addressed and recorded during your first board gathering. These include selecting committee members and electing officials, approving company bylaws and other administration papers, establishing a fiscal year, and issuing stock.

Obtain an EIN from the IRS

Your Kansas company will receive an Employer Identification Number (EIN) from the IRS as a tax identification number. To establish a business bank account, file taxes, and recruit staff, you'll need an EIN for Kansas corporation.

How to Obtain an EIN ?

A current Taxpayer Identification Number is required to acquire an EIN. (TIN). If you're filing for a subsidiary or connected business, you may use your Individual Taxpayer Identification Number (ITIN), Social Security number (SSN), or another EIN.

Applying for an EIN is possible online, by facsimile, or by letter.
Apply online: Using the IRS website to submit an online application is the simplest and quickest method to get an EIN.
Fill out Form SS-4, accessible on the IRS website, if you wish to submit your application by fax or postal. Once finished, you can fax the document to the appropriate IRS location.
Await proof: You will receive a confirmation from the IRS that your EIN has been issued after completing your application.

Importance of EIN

Whether you're a company, partnership, or single proprietor, this pertains to you. To submit employment taxes to the IRS and to provide W-2 forms to your workers at the end of the year, you must have an EIN. However, you require an EIN, even if you don't have any workers.

Register for Kansas State Taxes

Although registering for Iowa state taxes is a simple procedure, you must follow the steps to prevent any fees or penalties in the future.

Kansas Business Tax Registration

Find out what taxes you owe: The first stage is determining which taxes your company must file for. Kansas levies several taxes, including use, salary, and withholding taxes which you can check out on the Kansas Department of Revenue website.
File for taxes: The Kansas Department of Revenue's company Tax Application site allows you to file for Kansas company taxes online. Your corporation's name, EIN, and company operations will all be requested in the application.
Provide the necessary documentation: Depending on the kind of tax you're applying for, you might also need to provide a sales tax pledge or a security bond. To ensure you send all required paperwork, examine the criteria for each tax.
Obtain confirmation: The Kansas Department of Revenue will send your registration confirmation.

Sales Tax Registration

You must ascertain your sales tax responsibilities and apply for a sales tax permit through the Kansas Department of Revenue to register your Kansas company for sales tax. Sales tax applies to the majority of physical personal property as well as some services in Kansas. Following registration, you must regularly file and submit sales tax returns, receive sales tax from customers, and file and send sales tax returns.

Kansas business license and permits

Identify your licensing needs: Your Kansas corporation's licensing needs will rely on your sector, region, and line of business.

Apply for licenses and permits: You can apply for licenses from the relevant state or municipal authority. Some licenses and permits might charge an application fee or demand extra materials, like an insurance certificate or company plan.
Renew your licenses and permits: Licenses and permits must be reissued regularly, such as once a year or every two years. Keep track of your renewal dates to prevent any fines.

Comply with Ongoing Requirements

Keep in mind the following significant continuing requirements:

Annual reports: The Kansas Secretary of State must receive a yearly report from each Kansas company.
Kansas tax requirements for corporations: As a company proprietor, you must stay current on your federal, state, and municipal tax obligations. This involves filing and paying income, sales, and other relevant taxes.
Corporate meetings are required if there are numerous owners or executives to debate and decide on the company's direction.
Changes to your company: If your corporation experiences any changes, such as a shift in ownership or office location, you must notify the relevant state authorities and amend your records.
Maintaining accurate and current records of your corporation's financial activities, licenses and permits, and other significant papers is crucial.

Annual reports

Every year, you must submit a report to the Kansas Secretary of State containing your company's basic details, including your registered agent, primary location, and business purpose. You can submit your yearly report quickly and easily online via the Kansas Secretary of State website. It's crucial to submit your Kansas annual report by the due date because failing to do so could lead to fines or even the dissolution of your company.

Changes to Corporate Structure or Name

You must submit the necessary papers to the Iowa Secretary of State's office to alter your company's formal structure (for instance, from a sole proprietorship to an LLC). Depending on the sort of business body you're forming, this typically entails submitting articles of organization or incorporation. Additionally, you'll need to secure any licenses and permissions your new company may require.

Changing your company structure: You must submit the necessary papers to the Kansas Secretary of State and the IRS to change your corporation's structure, such as going from a C-corporation to an S-corporation. Your rules and other governing papers must be updated to reflect these changes.

Changing your corporate name: If you want to change your corporation's name, you must submit a name change revision with the Kansas Secretary of State.

Changing your registered agent: You must submit a change of agent document to the Kansas Secretary of State if you need to modify your registered agent. Keep thorough documents of these changes and inform your new registered representative of their duties.

Your company licenses, permits, and other formal papers must also be updated with your new name and structure.

Consider Working with a Business Attorney or Incorporation Service

A business attorney can assist you with drafting your rules and other company papers, navigating the legal requirements for establishing in Kansas, and ensuring you comply with all local, state, and federal laws.
Many administrative duties involved in forming your corporation, such as submitting your articles of incorporation and getting your EIN from the IRS, can be handled by an incorporation agency. A registered agent service and yearly report submissions are just two examples of the continuing help they can offer your company.
Check out a potential business lawyer's qualifications and expertise before hiring them, and request referrals from other company owners who have worked with them.

Summary

You can ensure that your Kansas company is ready for success and in compliance with all state and federal laws by following the instructions in this guide. Remember to choose an authorized agent, submit your articles of incorporation, write your rules, and acquire all required licenses and permits. Be sure to also keep up with continuing obligations like yearly reports and tax returns.

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Note: Our content is for general information purposes only. Levy does not provide legal, accounting, or certified expert advice. Consult a lawyer, CPA, or other professional for such services.