What to do after articles of incorporation

[triedandtrue]

What is the name of your state? NC

I started a business as a sole proprietorship. I already had a resale id from the state, federal tax id and a business banking account among other accounts with suppliers. I incorporated this month in NC. I already received my articles of incorporation from the state. I have scheduled the first board meeting for January 31. My questions are: Do I have to send a copy of my articles of incorporation to the state to get a new resale number and apply for a new federal tax id number? Do I have to notify my bank since the structure of the business has changed and do I have to notify my suppliers?

Thanks alot.

 

[clueless3]

When you operated your business as a sole proprietor, you operate everything with your SSN. When you incorporate, the new corporation is a separate entity. It needs everything brand-new and separate from you.

First, you need to go to http://www.irs.gov/businesses/small/article/0,,id=102767,00.html and apply for the EIN. They'll need your SSN and the name of the new corporation.

Then you can go to your bank and get a separate account number for it, using the new EIN. They'll need your SSN and the copy of the Articles.

Then you can go to your state board of equilization (or whatever that they call in your state) to apply for the new resale number.

You might be able to contact your old suppliers and explain the situation. They might be able to cut you some slack and treat you as an old customer and not as a new customer.

You need to do everything all over, new, and separate. It's a hassle, but since you didn't incorporate at the beginning, this is a small price to pay.