No matter if you are building a new company or taking your sole proprietorship to the next level, incorporation is the right step for your business. This guide is a short summary of the steps needed to incorporate a business under Alberta law, as well as some questions to decide whether it’s the right time for your business to incorporate. Here you will know about starting a limited company in Alberta and get answers to some common incorporation questions.

Selecting The Right Business Name : Selecting a name for your business is a little stressful, but ultimately, it’s a fun exercise. You have to follow five typical steps to confirm if there is a name available for your business.

A Numbered Company in Alberta : If you can’t, or would rather not, settle on a name, you can choose the option of a numbered company. In simple terms, a numbered company functions under a number assigned by the Alberta Corporate Registry and it does not have a distinctive name. ‘Alberta’ is always included after the number, and then there is a legal element.

Benefits of incorporation : The two main benefits to incorporate your business are limited liability and tax advantages.

Limited liability : If you incorporate, you can separate your personal and business obligations. Therefore, your personal assets always remain protected and untouched.

It is important to remember that directors of corporations may remain on the hook for unpaid employees’ wages in specific instances and unpaid taxes. This is different than if you remained a sole proprietor or a general partner in a partnership, as you would remain personally responsible for the debts of the business.

Tax advantages. Corporations' taxes are different from individuals. Generally, tax rates for corporations are not the same as the tax rates for individuals. Also, corporations need to pay flat rates of tax, where individuals need to pay taxes on a progressive basis. Lawnch can help you incorporate online with simple step-by-step forms and you’ll get the assistance of an experienced corporate lawyer along the way.

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