All topics
Glossary
The words you'll see while forming and running a US company, in plain English.
A
- Annual report
- A filing many states require after a company is formed. The name and timing depend on the state: some call it an annual report, a biennial report, a statement of information or a franchise tax report. Your compliance calendar lists the ones for your company.Read: What is the compliance calendar?
- Articles of incorporation / Certificate of incorporation
- The formation document the state issues or accepts for a C-Corp. In Documents it appears as Certificate of incorporation.Read: Where to find your company documents
- Articles of organization / Certificate of formation
- The formation document the state issues or accepts for an LLC. In Documents it appears as Certificate of formation.Read: Where to find your company documents
B
- Bylaws
- The governing document of a C-Corp. Formation includes a standard bylaws template for you to review and adopt.Read: What is included in Formation?
C
- C-Corporation (C-Corp)
- A company built for stock ownership, venture capital, employee equity and international investors. It pays corporate income tax.Read: What is the difference between an LLC and a C-Corp?
- Compliance calendar
- The list of filings your company has to make after it's formed, with their due dates, based on the rules your state publishes. It starts once all formation steps are done.Read: What is the compliance calendar?
E
- EIN (tax ID)
- Your company's federal tax ID, issued by the IRS. Every company needs one, and your order includes the application, with or without an SSN.Read: Do I need an SSN to get an EIN?
- Expedited EIN
- An optional add-on that puts your EIN application on the expedited track. It's only for companies where no owner has a US SSN, and it's refunded automatically if anyone on the order turns out to have one. It describes how the request is handled, not when the IRS issues the EIN.Read: What is Expedited EIN, and who can add it?
F
- Filing authorization
- The authorization you sign by typing your full legal name before you submit. It authorizes Incorpify to file the formation of your company in your state on your behalf.Read: How to review, authorize and submit your order
- Form 5472
- An IRS form that a single-member LLC owned by a non-US person files with a pro forma Form 1120. It is not part of Formation today, and it is not on your compliance calendar.Read: What is included in Formation?
- Form 8821
- An IRS form that lets our formation partner talk to the IRS about your EIN application. You sign it from Home only if you added Expedited EIN.Read: What is Form 8821, and when do I sign it?
- Form SS-4
- The IRS application for your company's EIN. The responsible party signs it from Home once our formation partner prepares it. Nobody can sign it for you.Read: How to sign Form SS-4
- Formation partner
- The company that files your formation with the state and applies for your EIN. Our team checks every order before it's placed with our formation partner.Read: Why our team checks your order before it's placed
I
- ITIN
- The IRS number for people who can't get an SSN. It isn't needed to form a company. If asked, you only enter its last four digits.Read: Do I need an SSN to get an EIN?
L
- LLC (Limited Liability Company)
- A flexible company structure with pass-through taxation by default, limited liability and lighter paperwork.Read: What is the difference between an LLC and a C-Corp?
M
- Main owner
- The person who owns the largest share of the company.Read: Do I need an SSN to get an EIN?
O
- Operating agreement
- The governing document of an LLC. Formation includes a standard operating agreement template for you to review and adopt.Read: What is included in Formation?
R
- Registered agent
- A person or company with a street address in the formation state who accepts legal papers for your company during business hours. A PO box or virtual mailbox doesn't count. Ours is included for your first year.Read: What your registered agent does in your first year
- Responsible party
- The person who controls the company, usually the main owner. They are named on the EIN application and sign it.Read: How to choose the responsible party
S
- SSN (Social Security number)
- The personal US tax number the US government issues to citizens, permanent residents and some visa holders. It isn't needed to form a company. We only ever ask for its last four digits.Read: Do I need an SSN to get an EIN?
- State filing fee
- The fee your state charges to form your company. We pass it on at cost and show it for your state at checkout, before you pay.Read: What is the state filing fee?
U
- US person (for tax purposes)
- A US citizen, a green-card holder, someone who meets the substantial-presence test, or a US entity. It is not the same as where someone lives.Read: How to add owners and ownership
Still need help?
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