Information on the 50 States and the District of columbia

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Incorporating in Pennsylvania

Corporate Name Requirements

* The name may be in any language but must be expressed in English letters or characters or Arabic or Roman numerals; shall contain word “corporation,” “company,” incorporated,” or “limited” or an abbreviation.

Articles of Incorporation Requirements

Director Information

  • Minimum Number – One or more.
  • Residence Requirements. – No provision.
  • Age Requirements – Must be 18 or older.
  • 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 – based on the amount of stock.

  • Basis. Capital stock value is (1) the product of one-half times the sum of a corporation’s average net income capitalized at 9.5% plus 75% of such corporation’s net worth (2) minus $100,000 [72 P.S. S:7601]. Algebraically, capital stock value equals [(.5) * ((average net income/.095) * (.75 * (net worth)) – $100,000)]. Net worth is the sum of the corporation’s issued and outstanding capital stock, surplus, and undivided profits as of the close of the tax year. Minimum tax is $300.

Income Tax Rate

  • 9.9% of taxable income.

For more information on taxes, visit Pennsylvania 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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