Information on the 50 States and the District of columbia

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Incorporating in North Carolina

Corporate Name Requirements

* Must contain words “corporation”, “incorporated”, “company” or “limited” or an abbreviation corp., inc., co., or ltd. May not contain language stating or implying corporation is organized for purposes not permitted by the Act and its articles. Must be distinguishable from name of domestic, foreign, or non-profit corporation, or the reserved or registered name of a limited liability company or partnership.

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

  • No extra filing fees based on number of share or amount of par value.

Yearly Requirements

Annual Statements

  • Domestic corporations and foreign corporations authorized to transact business in North Carolina must file an 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). Filing fee, $20.

Income Tax Rate

  • Corporate income tax is 2.50% effective for taxable years beginning on or after 1-1-2019.
  • For C-Corporations, the franchise tax rate is $1.50 per $1,000. The minimum franchise tax is $200.

For more information on taxes, visit North Carolina Department of Revenue

 

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
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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.
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LLC formation

  • Contains characteristics of both corporation and partnership
  • Shareholders may take advantage of “Pass-Through” taxation
  • Limited liability for share holders
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Not for profit corp

  • Eligible for tax-exempt status
  • Limited Liability protection
  • Qualify for public and private gains
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