How is an Ohio Corporation created?

Elliott Stapleton Corporation

To create a corporation in Ohio, Articles of Incorporation must be filed with the Secretary of State.  But that filing alone does not create a business with limited liability.

To be legally sound, the corporation must make all of the necessary tax elections, receiving any necessary federal, state, or local authorization, contributing assets to the corporation in exchange for stock, and creating a board of directors.

It is important to maintain a clear separation between the assets in the corporation and the assets owned by shareholders. If there is commingling of assets, liability of the business may be extended to the shareholder’s personal assets.

Without a properly formed corporation, the shareholder’s personal assets are at risk to the liabilities of the business. Click here to schedule a free consultation regarding the formation of your company.

 

  

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About the Author

Elliott Stapleton

Elliott is a partner in the firm of Cornetet, Meyer, Rush and Stapleton, LPA. His business clients range from small single member companies to large privately held businesses.

Elliott’s legal services include advice on Business Formation and Transactions, Real Estate Transactions, Trademark Law, Copyright Law, Estate Planning, and Probate Administration.