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Open a Corporation in the US Quickly by Using these Simple Steps

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Are you among those people who always wanted to have their own business? Read this guide and learn how to start a corporation quickly in a few simple steps.

Some people are born to be entrepreneurs. They see opening of a  company as a worthwhile challenge and nothing can stop them on the way to success. Then again, some others know that having their own business will give them many benefits, but are afraid to open this new chapter in their life.  

According to government data, there is a constant increase in new businesses. No matter which of the two groups you belong to, you must agree that having your own business has many advantages. Apart from being your own boss, it gives you the freedom to set your rules and deadlines, select working hours that suit you, and allows you more spare time to spend with family and friends.

If you have decided to open a company, the first thing you must do as a business owner is to decide on the best way to structure the business. In the US there are several ways to start and operate a business: you can select among a sole proprietor, a partnership, a limited liability company (LLC), or a corporation. If you are a group of people who have big plans for their business, then you should consider opening a corporation.

Why is a corporation a popular way to run a business?

When selecting the best way to operate their business, entrepreneurs are trying to understand which one will suit their needs and give them more benefits.

A corporation is an organization that usually includes a group of persons or a company and is authorized by the State to act as a single entity. It is also recognized as such by law for certain purposes.

It is also easier to raise capital for a corporation than for an LLC. A corporation also enjoys several corporate tax benefits and doesn’t need to pay  self-employment tax, unlike an LLC. Also, a corporation has a more formal management structure and the possibility of unlimited capital generation so it is more credible in the eyes of potential investors.

Several states have created laws to make corporations more attractive for future business owners. Also, non-citizens can start a corporation in the United States if they have a physical mailing address and a bank account in the US.

By keeping in mind that the initial cost of opening a corporation can be as low as $45, depending on the state, then it is a wise business structure to consider.

What are the types of corporation and which should I select?

Depending on your business and goals, you can select among several different types of corporation.

C Corporations 

C Corporations (C Corps) are the most basic and all businesses start with this type. They can be owned by many people and can have an unlimited number of stockholders. C Cops also have a board of directors; they can also be listed on a stock exchange and become public.

S Corporations 

S Corporations (S Corp) are known as unique type of corporatios. They are not a standard business structure, but offer a type of tax status. Their difference from C Crops is that ownership is limited to 100 shareholders and they can pass-through any business income to the shareholders to avoid double taxation.

Professional corporations 

Professional corporations are formed from professionals, licensed individuals from the same field. These are usually groups of lawyers or accountants who want to work together as a business entity for various reasons, including the tax and liability advantages offered by corporations.

Nonprofit corporations

Nonprofit corporations are charitable, educational, religious, or science organizations which do not pay income taxes on their profit. They are formed to use profits for a company’s mission rather than to distribute it to shareholders.

How to start a corporation

The process of starting a corporation requires several steps that should be followed before successfully completing the registration process.

Select a Proper Name

This is a very important step in forming a corporation. You should select a name that is simple and unique but also fulfills any of your state requirements. It must include the word “corporation,” “company,” “incorporated,” “limited” or an abbreviation of any of these terms. There are some names that you should avoid, like those which have words that cannot be used without approval, are trademarks or names which can be confused with the names of government agencies.

To be sure that a trademark or service mark is available, make sure you have checked the Federal trademark Database to make sure that the name you have selected for your corporation is available.

Select a Registered Agent 

A registered agent will conduct the necessary processes on behalf of your business, like dealing with the correspondence and paperwork for the state. A registered agent can be an individual or a business and is a service that is recommended in most of the states to prevent any negative consequences.

Hold an Organizational Meeting 

Holding an organizational meeting is an obligatory process before filing the formation documents for the corporation. The organizational meeting requires the fulfillment of several tasks, including setting the rules which will determine how your organization will run, determining the share structure, and appointment of directors. It culminates with everyone present signing the Incorporator’s Statement.

File the Formation Documents 

File the Formation Documents which cover the basics of your organization with your state. In most states, you can find these documents online.

Identify Your Business Entity 

Get an EIN to identify your business entity. It is used by the federal government and obtained by the business owner of the company to be able to open a bank account, hire employees, and use it for tax purposes.

Once the business is registered, you can open a business bank account, get a business credit card, take out insurance, and sign legal documents on behalf of your corporation. 

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Interview with Jason Ho, CEO of Teklium: A Vision for the Future of Technology

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Photo courtesy of Teklium 

By Mj Toledo

There is a wealth of experience behind Teklium, and it is embodied in its chief executive officer (CEO), Jason Ho. His educational foundation was laid at National Chiao Tung University and Pennsylvania State University, where he developed his skills in electrical engineering. With over 400 patents to his name, he has played a key role in advancing semiconductor technologies and artificial intelligence (AI).

From leading custom chip design for the F35 Fighter Jet to innovating at Teklium, Ho’s work has been adopted by major corporations worldwide. In this interview, he shares his vision for the future of technology and how Teklium’s developments fit into this broader landscape.

Q: Hi, Jason. For those who may not be familiar with Teklium, could you tell us more about your company?

Jason Ho: Certainly. Teklium is a technology company focused on improving AI and semiconductor technologies. Our mission is to create self improving AI systems and hardware that can tackle various technological challenges and shape the future of multiple industries.

Q: You hold over 400 international patents, with one of your most notable innovations being hydrogen battery technology. What inspired you to promote this sustainable transportation solution?

Jason Ho: I’ve always been deeply interested in finding sustainable energy solutions, especially in transportation. Traditional lithiumion batteries have clear limitations, both in terms of performance and their environmental impact due to resource mining. Hydrogen batteries present a promising alternative, offering both environmental benefits and faster refueling times, which could make electric vehicles more practical and appealing.

Q: What drove you to focus on hydrogen battery technology specifically?

Jason Ho: My collaboration with Mark Bayliss, President of Visual Link, played a significant role. Mark introduced the concept of a closed loop hydrogen system, and our joint efforts resulted in the development of a hydrogen battery technology that we believe can provide a clean and safer alternative to lithiumion batteries. This inspired me to continue refining the technology, working with Visual Link to bring it to market.

Q: How do you see your company’s hydrogen battery technology impacting the electric vehicle industry in the next decade?

Jason Ho: I’ve thought about this a lot. Our hydrogen battery technology has the potential to revolutionize the electric vehicle industry by offering a more efficient and sustainable energy source. The ability to refuel quickly, combined with the technology’s adaptability to a wide range of temperatures, could make electric vehicles far more practical and attractive to consumers in the long term.

Q: Can you explain the significance and potential impact of Teklium’s closed loop hydrogen energy system on global energy consumption?

Jason Ho: The closed loop hydrogen energy system is groundbreaking because it enables onsite hydrogen generation through water electrolysis, eliminating the need for external supply chains. This drastically lowers energy consumption and minimizes environmental impact by recycling water in a continuous loop. The system offers an environmentally friendly solution for industries beyond transportation, including energy storage and telecommunications.

Q: What challenges do you foresee in scaling up hydrogen battery production, and how does Teklium plan to address them?

Jason Ho: Scaling up hydrogen battery production comes with significant challenges, including the development of necessary infrastructure, reducing production costs, and ensuring safety standards. At Teklium, we plan to address these obstacles by partnering with industry leaders to build the required infrastructure and by investing in research to lower costs. We’re also committed to implementing rigorous safety protocols to ensure the technology performs reliably.

Q: How does Teklium’s strategy for AI infrastructure differ from traditional approaches?

Jason Ho: At Teklium, we’re taking a different approach by exploring ways to develop advanced materials and technologies that could improve the performance and efficiency of AI infrastructure. We’re focused on moving beyond traditional silicon based systems and envision a future where we can create three dimensional chip structures that significantly reduce data movement and energy consumption. By integrating memory and processing capabilities, we believe we can revolutionize AI workloads.

Q: Teklium has ambitious plans for extending Moore’s Law. Can you elaborate on how these plans could transform the semiconductor industry?

Jason Ho: Siliconbased chips are nearing their physical limits, so we’re exploring technologies that could allow us to scale transistor density both vertically and horizontally. By adopting these new approaches, we aim to significantly increase chip performance and, in doing so, challenge the traditional expectations of Moore’s Law. We also envision a future where chips are reusable and can be reprogrammed over decades, which could reshape the semiconductor industry’s business model in terms of sustainability and efficiency.

Q: What environmental benefits could Teklium’s technologies bring, particularly in reducing carbon emissions and resource consumption?

Jason Ho: Our innovations could have a profound impact on the environment. We’re committed to developing technologies that reduce resource consumption and minimize waste. By creating more efficient manufacturing processes and extending the lifespan of chips, we hope to significantly reduce electronic waste. Our work on AI infrastructure could also cut energy consumption in data centers by as much as 60%, which would translate into substantial reductions in carbon emissions. And, of course, our hydrogen battery technology offers a clean energy storage solution that could accelerate the adoption of renewable energy sources.

Q: Aside from electric vehicles, what are some other exciting applications of Teklium’s hydrogen battery technology?

Jason Ho: While electric vehicles are an obvious application, there are so many more exciting possibilities. Our hydrogen batteries could serve as large scale energy storage solutions, balancing grid loads and supporting renewable energy sources like wind and solar power. They could also power remote cell towers and data centers in areas where traditional power sources are unreliable. In aerospace, these batteries could enable long range drones and even electric aircraft. The potential applications in disaster relief and military operations, where portable and reliable energy is critical, are also very exciting.

Q: How does your collaboration with companies like Nantero and Visual Link advance Teklium’s technological developments?

Jason Ho: Our collaboration with Nantero is allowing us to explore advanced memory architectures, while our partnership with Visual Link offers crucial insights into practical applications and market needs. Visual Link also helps us navigate regulatory challenges, ensuring our innovations are commercially viable and compliant with industry standards.

Q: Teklium is involved in the concept of AI City in partnership with West Virginia Data Center Group. Can you tell us more about the vision for this project?

Jason Ho: AI City is an ambitious concept that we’re working on with the West Virginia Data Center Group to turn into reality. The idea is to create an intelligent infrastructure that incorporates cutting edge technologies in AI and data centers, optimizing everything from energy usage to communication networks. We envision a city that can learn and adapt to the needs of its residents, reducing inefficiencies and improving quality of life. It’s still in the planning stages, but we’re confident it can become a reality in the near future.

Q: What are your long term goals for Teklium, and how do you see your inventions influencing future generations?

Jason Ho: My long term vision for Teklium is to become a leader in sustainable technology solutions. We aim to continue pushing the boundaries of AI, semiconductor technology, and energy solutions. I want our innovations to inspire future generations to tackle global challenges like climate change and resource scarcity. Ultimately, I hope Teklium’s work contributes to a more connected and sustainable world.

While Teklium’s advancements may take time to fully realize, they open up exciting possibilities for addressing critical challenges like energy consumption and sustainability. Under Jason Ho’s leadership, Teklium is poised to make a significant impact on the future of technology and the environment.

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