Corporate Name Requirements
* The name of the corporation must be in English letters or numbers and must contain one of the following words: corporation, company, incorporated, limited or Societa per Azioni, or contain the abbreviation corp., inc., co., ltd., or S.p.A. The name may not imply that it is organized for any purpose not permitted in its certificate. The name must be distinguishable from the name of a domestic corporation; a reserved or registered corporate name; the fictitious name of a foreign corporation; the name of a nonprofit corporation; the name of any domestic or foreign nonstock corporation; or other business entities filed with the state.
Articles of Incorporation 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
- The officers are not required to be listed in the articles of incorporation.
Stock Information
- An increase in the shares may cause an increase in the initial filing fee.
Yearly Requirements
Annual Statements
- Domestic corporations must pay a fee $75 with each annual report. New domestic corporations file first report within 30 days after organization meeting.
- New corporations must file first corporate report in second year succeeding the calendar year in which it was incorporated.
Income Tax Rate
- For tax years commencing on or after January 1, 1999, the rate is equal to 8.5%; for tax years commencing on or after January 1, 2000, and thereafter, the rate is equal to 7.5%.
For more information on taxes, visit Connecticut Department of Revenue Services
C-Corporation
- Shareholders have limited liability protection
- May be listed and traded as a publiccorporation on the stock market or “over the counter”
- Has a separate and independent tax status from its owners
S Corporation
- Profits are not subject to “double taxation”
- Corporate losses may be “passed through” to share holders
- Shareholders are afforded the same protection as C Corp.
LLC formation
- Contains characteristics of both corporation and partnership
- Shareholders may take advantage of “Pass-Through” taxation
- Limited liability for share holders
Not for profit corp
- Eligible for tax-exempt status
- Limited Liability protection
- Qualify for public and private gains