How to Incorporate a Business in Ohio (OH)
There are three ways to incorporate your business in Ohio: hire a lawyer to do the job for you (a very expensive option), walk in to the State Department office and do it by yourself or to use a professional incorporation company, like Active Filings. Whatever method you chose, this section will provide you the basic information you need to know about OH filings.
Articles of Incorporation Requirements
Corporate Name Endings
The name shall end with or include word or abbreviation “Company”, “Co.”, “Corporation”, “Corp.”, “Incorporated” or “Inc.” The name must be distinguishable from the name of another domestic or foreign corporation authorized to do business in the state or from any trade name. The name shall not contain language that implies it is connected with a government agency of any state or the United States.
Director Information
* Minimum Number – Three or more, except that where the shares of a corporation are owned by less than three shareholders, that corporation may have less than three directors but that number may not be less than the number of shareholders.
* Residence Requirements. – No provision.
* Age Requirements – Must be 18 years old.
* Directors are 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
* A domestic corporation incorporated on or after January 1, 1993 must file its first statement of continued existence on or before July 1 of the year following its year of incorporation and each July 1 thereafter. A filing fee of $5 will be charged.
Income Tax Rate
* The greater of: (1) 5.1% plus an additional corporate franchise tax of 0.11% of the first $50,000 of the value of the corporation’s issued and outstanding shares of stock determined according to net income (Basis B) and 8.9% (8.5% for tax years beginning after 1998) plus an additional corporate franchise tax of 0.22% of the excess over $50,000; or (2) 5.82 mills (4 mills after 1998) plus an additional corporate franchise tax of 0.14 mill of the value of the corporation’s issued and outstanding shares of stock Minimum tax $50.
For more information on taxes, visit www.state.oh.us/tax
Cost of Incorporating in Ohio
ONLY $59.00 + State Fees!
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