What Does Inc Mean? | Inc Meaning?
What does Inc mean? Inc meaning?
- Inc is an abbreviation for Incorporated. For instance, when you form a Delaware corporation the following endings are available:
- When a company decides to "incorporate", they are forming a legal entity that is separate from themselves. This legal corporation entity can be any of the following
- For example, if someone operates an ecommerce business under their own personal name, "John Smith," they would be considered a Sole Proprietorship. They would file a personal tax return known as a 1040 and would file a Schedule C for their business income and expenses.
- If they "incorporate" their personal name, they would now be known as "John Smith, Inc."
- "John Smith, Inc." would get it's own federal employer tax identification number from the Internal Revenue Service (aka IRS) and file a separate tax return known as form 1120.
- As long as John Smith the person uses "John Smith, Inc." on his contracts, business cards, bank accounts, etc., and does not comingle his personal funds and with his business funds, the entity known as "John Smith, Inc." will be liable for any wrongdoing NOT "John Smith" the person.
When you are ready to incorporate your business, contact us and we'll be happy to answer your question.
LAUNCH YOUR BUSINESS TODAY FOR $70 PLUS STATE FILING FEES. 1ST 12 MONTHS OF REGISTERED AGENT SERVICE IS FREE!
Included in all incorporating services:
- Company Name Check Verification & Availability
- Preparation & Filing of Articles of Formation
- Same Business Day Processing
- Registered Agent (1st Year FREE)
- Email Reminders & Alerts
- Lifetime Customer Support
Start Your Business Today for Only $70.00 Plus State Filing Fees.