BL Unit VI Mini Project: How to Start A Corporation in Texas, United States of America

Unit VI Mini Project Establish a Corporation In this exercise you will complete the steps necessary to establish a corporation. Remember, that a corporation does not exist until the corporation documents are both filed and accepted by its home state. You can complete the assignment by using the Secretary of State's web site in the State of Delaware or the Secretary of State's web site in the state where you live (or appropriate authority, depending on your state). **I would like to use Texas. Allen Smith and Bob Smith ask you to file the necessary corporate documents to form a corporation for the purposes of buying and selling vintage American racing cars within the United States and internationally. This has always been a lifelong dream of theirs, ever since they were children and built model cars as a hobby. They both have $500,000 as initial investment capital and each one has a son who will be a shareholder in the corporation. The Smith brothers would like to make sure that the corporation can be passed on to their sons in the future. They will operate the business out of their garage located at 123 Memory Lane, Orange Beach, Alabama, 36561. They would like to name the corporation Brother's Automotive, Inc. Allen Smith, Bob Smith and their sons, Chet Smith and Dean Smith, are all residents of Foley, Alabama. The Smiths also request that you research an entity to serve as the Registered Agent for the corporation. PART 1: Describe the process you will need to complete in order to file the documents and have them accepted by the State. Your answer should include the following: A. Research the name to see if it is available. If it is not available, then offer the Smiths two alternative names that are available. B. Identify and describe the documents required to file in the State. C. Identify the various methods that may be utilized to file with the State. D. Identify the fees accompanied with the filing. PART 2: Once you identified the documents necessary to form the corporation in your chosen state, prepare a draft of each document you will file to create the company. PART 3: Identify and describe the documents the corporation will need to file on an annual basis in the future. You may upload the completed documents combined in one single Word or PDF document. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. Any references or citations must be in the APA style. That assignment requires that you do several things including drafting the documents that are necessary to form a corporation. The documents that are necessary to form a corporation can be found on the Secretary of State website for the state that you select for forming your corporation, but the forms are provided in different formats by different states. Some states allow you to download the necessary form so that you can complete the forms. Other states allow you to fill out a form online, but you cannot save the form. You may have to type out the form that the state that you select provides. Please remember that the directions for this assignment advise you to combine your answer into a single document. This is a Turnitin assignment and Turnitin will only allow the submission of a single document. Also, please be aware that Turnitin will not accept scanned documents. I cannot accept any assignments or parts of assignments outside of the BlackBoard course. Please be prepared to spend the necessary time that this assignment requires. Please do not simply copy everything that a state's website has to offer and submit all of that information.