If you have multiple classes of shares, you’ll also need to attach an explanation of the rights and limitations for each class.įorming one of those rare community development corporations? Your par value will be quite high at $100 a share, per Ohio Rev Code § 1726.02 (2019). If your shares don’t have par value, you can leave the “par value” section blank. Par value is also typically the lowest value at which a share will be traded. Par value is the face value of the share-the amount listed on stock certificates. Authorized Sharesįor each share type, list how many shares you’re creating and their par value. Tip: Most corporations skip the effective date. If you’d prefer to start on a specific date (maybe the next tax period is on the horizon), you can list an effective date up to 90 days in the future. Skip the effective date section if you’d like your corporation to begin right away. This section also includes the option to choose an effective date.
You don’t need to include a street address or even an address at all-just the Ohio city and county where your main office is located. Tip: Many corporations opt to keep it simple with “Corp” or “Inc.” 3. Your name must include “Corporation,” “Incorporated,” “Limited,” or an abbreviation for one of these words. Tip: Most corporations are not community development corporations. These businesses are formed under Ohio Revised Code Chapter 1726. These corporations are subject to many more regulations, including annual state financial reports, ownership restrictions, and par value and capital requirements. A community development corporation has the purpose of promoting business or industry in the state. Community Development Corporationĭon’t tick this box unless you’re forming a community development corporation. And for the cheapest way to start a business? Pay just $45 out the door with our Corporate Guide Service monthly payment option. We provide a free business address to list whenever possible throughout the filing to better keep your personal address private. Note that the information you provide becomes part of the public record-permanently.īetter yet, skip the form entirely and hire us to incorporate your Ohio business. Learn more about each Articles of Incorporation requirement below.
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