Corporate Name Endings
The name of the corporation must be in English letters or numbers and must contain one of the following words: “Corporation,” “Company,” “Incorporated,” “Limited,” “Societa per Azioni,” or contain the abbreviation “Corp.,” “Inc.,” “Co.,” “Ltd.,” or “S.p.A.” The name may not imply it is organized for any purpose not permitted in its certificate. The name must be distinguishable from the name of a domestic corporation; a reserved or registered corporate name; the fictitious name of a foreign corporation; the name of a nonprofit corporation; the name of any domestic or foreign non-stock corporation; or other business entities filed with the state.
Corporation Requirements
Director Information
Minimum Number – One or more.
Residence Requirements – No provision.
Age Requirements – None.
Directors are not required to be listed in the articles of incorporation.
Officer Information
Officers are not required to be listed in the articles of incorporation.
Stock Information
An increase in the shares may cause an increase in initial filing fees.
Corporate Records
The certificate of incorporation, bylaws, certain resolutions adopted by the board of directors, minutes of all shareholders’ meetings, records of all action taken by shareholders without a meeting for the past three years, names and addresses of current directors and officers, and the most recent annual report must be kept at the principal office of the corporation.
Taxes and Fees
Annual Statements
Domestic corporations must pay a fee of $75 with each annual report. Foreign corporations must pay a $300 fee. New domestic corporations file their first report within 30 days after an organizational meeting.
Income Tax Rate
The income rate is equal to 7.5% of net income. Effective July 1, 2002, an annual tax of $250 is imposed on each company that is treated as a partnership, limited liability partnership, or S corporation for federal income tax purposes.
S Corporation
S Corporation status is recognized by the State of Connecticut. A separate state election from the federal election is not required.
License
Certain types of businesses in the state are required to obtain a license and pay a fee. The following is partial list.
- Accountants
- Architects
- Attorneys
- Barbers
- Child day care services
- Collection agencies
- Electrical workers
- Fund-raising organizations
- Home improvement contractors
- Insurance
- Investment
- Professional engineering services
- Real estate
- Television
- Radio, stereo, and receiving equipment service
- Repair vending machines and operators (food and drinks)
Please check with the state to make sure your business is complying with the license requirements for your particular profession.
