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Forming a corporation instead of an LLC
open_in_newOpen Form a company in Genayaarrow_outwardPick Corporation on the first step of Form a company and the rest of the wizard adapts - the packages, the legal name suffix, an extra tax-treatment question, and who you list as owners. Everything else about ordering, paying, and tracking the filing works exactly like an LLC order.
What differs from forming an LLC
- Tax treatment
- A corporation also picks how it is taxed - C Corporation or S Corporation. Genaya files the formation with the state; the S election itself is made with the IRS, not the state.
- Officers, not members
- Instead of Members or Managers, you name officers with corporate titles - President, Vice President, Secretary, Treasurer, CEO, CFO, or COO.
- Legal name suffix
- A corporation's legal name must end with Inc., Incorporated, Corp., Corporation, Company, or Limited - never LLC, L.L.C., or Limited Liability Company.
- Expedited filing
- Not available. Expedited state filing is an LLC-only add-on today, in Arizona, Delaware, Florida, Nevada, New York, and Wyoming - a corporation files on the standard track in every state.
- State fees
- Set separately by the state per entity type, and usually different from the LLC fee in the same state - Genaya's service fee is the same either way. See the state fee comparison below.
- Operating agreement vs. bylaws
- LLC Complete includes an operating agreement template to complete and sign with E-Sign. Corporation Complete does not - corporations adopt their own bylaws, and Genaya does not draft or provide a bylaws template.
- Annual report rules
- Some states require a periodic report from a corporation but not from an LLC, or the other way around, and the cadence and deadline can differ too. Genaya shows the right rule and due date for your company's state and entity type on State Compliance.
A state fee example: Florida
| LLC | Corporation | |
|---|---|---|
| Formation fee | $130 | $78.75 |
| Annual report fee | $138.75 | $150 |
| Expedited filing | Available ($195 state fee) | Not available |
Where the annual report rules differ
- Arizona requires no annual report from an LLC, but a corporation files one on the anniversary of incorporation.
- Missouri requires no annual report from an LLC, but a corporation files an annual registration report by the end of its incorporation month.
- New Mexico requires no annual report from an LLC, but a corporation files a biennial corporate report.
- Ohio, Oklahoma, Alabama, and South Carolina require no periodic report from a corporation.
infoGenaya calculates the exact due date per state and entity type and shows it on that company's State Compliance tab - you never have to look up the rule yourself.
lightbulbAlready have a corporation formed elsewhere? Bring it onto State Compliance for free with Set up compliance - it accepts a corporation and its tax treatment the same way it accepts an LLC.
Frequently asked
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