Customer Reviews

Incorporate Your Business: A Legal Guide to Forming a Corporation in Your State

5 star:		(5)
4 star:		(1)
3 star:		(0)
2 star:		(0)
1 star:		(0)

 

 

I looked at several books and found this one by Nolo to be COMPLETE, SUPERB, EASY TO FOLLOW. It explains benefits of incorporating then lead you through very clear step-by-step instructions. CD provides samples, save you from typing and there's explicit instructions fro each state. I incorporated in MA successfully using this guide. The author(attorney) has written many related books in similar clear step-by-step fashion. Thank you so much. I couldn't have had the guts to incorporate without this book and it turned out to be so easy.

I purchased this book even though I incorporated already. I wanted to review some items and also assist my father in law with possible incorporation. He read some of it and commented that it was a good text - clear and informative. I also found the text to be clear, informative and exactly what I was looking for. I would recommend this text to others, I would be interested to see what additional information is in the updated 4th edition.

Very easy to read and understand.
I wasn't sure if I should attempt to set up our new corporation myself or have an attorney do it so I decided to get this book and see how difficult it really was. I ended up doing it myself and saving several hundred dollars in attorney fees. It was not difficult at all.
It comes with a CD that has all the templates needed for bylaws and other start up forms. I highly recommend this book.

I bought the pdf version of the 6th edition of this book direct from Nolo. I am in the process of starting a business for the first time, so prior to buying the book I had no background experience apart from what I had gleaned from a week or so on the internet researching the pros and cons of different business structures.

I found the book to be very thorough, clear, informative, easily read and well organized. I would definitely recommended it. As well as explaining what has to be done, there are many sample forms that are used to show in detail what has to be filled out and filed and also pointers to external resources. Also as well as detailing the most straightforward ways of doing things, the author highlights areas in which an individual business's circumstances may add additional complexity. He also provides advice on how to find state-specific information in the states' Business Corporation Acts. Judicious use of sidebars and "skip ahead" notes help the reader avoid getting too bogged down in details they may not immediately need.

The author is also careful to point out areas in which a business founder may need to get additional legal and accounting advice and gives specific information on developing relationships with suitable advisors.

The only limitations I found...

The treatment of S-corps seems a little on the light side. Pros and cons relative to other business structures are summarized pretty well in Chapter 1, but in Chapters 4 & 5, which deal with the actual tasks that need to be undertaken during and immediately after incorporation, there is no mention of anything that is different about forming an S-corp compared with a C-Corp. Chapter 1 notes that it is necessary to make an S corp election with both the IRS and the state tax authority, but the only elaboration is a reference to IRS Form 2553 in parentheses in one cell of a table in Ch 1.

Perhaps, there just isn't much that is different apart from the IRS election filing that needs to be highlighted, but in that case just a note pointing out that everything discussed applies regardless of whether you are forming an S-corp or C-corp would be reassuring.

Also a little more on tax procedures would be helpful. There is a lot of very good information about tax implications of different business decisions, compensation strategies etc. And although filing tax returns isn't strictly part of the incorporation process, a little more practical guidance about forms and schedules would have been useful.

Also, most of the book is also based around an assumption that the company will be incorporated in the same state that its principal office is located. So if you are forming say a Delaware corporation from somewhere else, some of the advice and the wording in some documents would need tweaking to reflect that.

However these issues are generally minor in comparison with the overall quality and quantity of content. Overall this is a very worthwhile read, and even if you plan to have an attorney do much of the work it's a good source of understanding of what is involved in incorporating a business and the factors that should be considered in the early decision-making around that process.

[Update: Again I stress that I have no past experience in forming corporations and I'm certainly not a lawyer, but I believe I have found a minor error in the book, specifically in the model bylaws it proposes. In Section 7 of Article 2 (Shareholders' Meetings), I noticed the phrase "the affirmative vote of the majority of shareholders represented at the meeting", and I was a little confused because the immediate context talks about voting according to the number of *shares* represented, not the number of *shareholders*. Wanting to be sure that I understood what was going on here, I went and checked Delaware State Corporation Law, and in Title 8, Chapter 1, section 216, (2), I found that it refers to "the affirmative vote of the majority of shares present in person or represented by proxy". This makes much more sense to me, so I think the reference to "shareholders" in the book's model bylaws is probably incorrect.]

This book is a great starting point for understanding how corporations work and the process for forming them. The issues of compensation, stock options, and taxes are covered well and the reader is able to get the big picture without getting lost in the technical details. I would recommend this book for anyone interested in starting a company or working closely with a start-up. However, if you don't have some experience with the legal or financial aspects of running a business, you should consider getting some legal and/or accounting advice prior to taking the plunge.

Con los cargos que cobran los CPAs para abrir una corporación, esta es la mejor alternativa. Todo lo que hay que saber sobre cómo incorporarse está aquí. Fácil de usar, todos los formatos en un CD listos para imprimir. Lo único que hay que hacer es comenzar el proceso.
Si te quieres incorporar o tienes preguntas sobre el tema, este es el mejor comienzo.

A perfect alternative to high CPAs costs. Everything you need to know about how to incorporate is here. Easy to use, all forms are in a CD ready to print. the only thing left is to start the process.
If you want to incorporate or have questions about it, this is the best start.