Congratulations — the state approved your Articles. Your company officially exists.
Now the real work starts. A filed corporation with no tax ID, no bank account and no way to take payments isn't a business yet. It's paperwork. The founders who scale are the ones who build the foundation in the right order, so banks, payment processors, lenders and contracting officers see a company that's clean and consistent from day one.
Here's the post-formation checklist we walk founders through at LGS.
Step 1: Get Your EIN
Your Employer Identification Number is your company's federal tax ID. You'll need it to open a bank account, set up payment processing, hire and file taxes.
You can get a free EIN directly from the IRS online, and eligible applicants receive it immediately. The IRS is clear: you never have to pay a fee for an EIN, so be wary of sites that charge for one.
Depending on your state and industry, you may also need state tax IDs. The SBA's guide to federal and state tax ID numbers explains when.
Step 2: Put Your Corporate Records in Order
A corporation is an institution, not a side hustle. Treat it like one from the start.
Adopt your bylaws
Bylaws set the internal rules: how directors are elected, how decisions get made, how meetings work. They're the operating manual for your corporation.
Document your first decisions
Record your initial organizational actions — appointing officers, issuing shares, authorizing the bank account — in writing, and keep them with your other corporate records.
Keep a corporate record book
Articles, bylaws, minutes, share records and your EIN confirmation letter belong together, organized and easy to produce when a bank or lender asks.
Requirements vary by state, so confirm specifics with your attorney or CPA. Every LGS C-Corp formation includes EIN, Articles, bylaws and core operating documents so you start with a real foundation.
Step 3: Open a Dedicated Business Bank Account
Never run company money through your personal account. Mixing funds muddies your records and can weaken the separation between you and your corporation. The SBA's guide to opening a business bank account covers what banks typically ask for: your EIN, formation documents and ownership details.
LGS tip: make sure your legal name, address and EIN match exactly across your state filing, IRS letter and bank application. Mismatches are one of the most common reasons setups stall.
Step 4: Set Up Payment Processing
If you sell online or invoice clients, you need a processor. Stripe is a popular option for small businesses; Stripe's payments documentation shows what's possible.
Processors verify your identity and your business before you can accept payments. Expect identity checks and be ready with documentation. A website that clearly shows what you sell, your policies and how customers contact you helps that review go smoothly.
Step 5: Launch a Credible, Compliant Website
Your website is often the first thing a bank, processor, lender or customer checks. At minimum, it should include:
- A clear description of your products or services
- A checkout or contact path
- Privacy and fulfillment/refund policy pages
- About and contact information that matches your filings
- A professional domain email instead of a free address
Professional visuals matter too. Through Bald Bastard Productions, our photography department, we offer headshots and brand photography for businesses in North Carolina — because a stock-photo website doesn't build trust.
Step 6: Start Building Business Credit
Business credit is built over time, separate from your personal credit. Getting started typically means establishing your business with consistent information and opening accounts that report to business credit bureaus, often called tradelines.
Approval and reporting timelines depend on each provider, so no one can honestly promise a fixed result. What you can control is a clean setup that supports underwriting when you apply.
Step 7: Build Your Compliance Calendar
Formation isn't one-and-done. Most states require annual or periodic reports and fees to keep your corporation in good standing, and you'll have federal and state tax deadlines. You may also need local licenses and permits. The SBA's guidance on staying legally compliant is a solid overview.
Put every deadline on a calendar the day you form, and assign someone to own it.
Step 8: Decide What You'll Delegate
Once the foundation is set, your time is better spent on revenue than admin. That's where LGS Virtual Staffing comes in — trained, accountable remote help for admin, bookkeeping, CRM and more. And if federal work is on your roadmap, our Government Contracting page shows what GovCon-ready looks like.
Want It Done for You? How LGS Packages Map to This Checklist
Our Business Formation Packages are built around this exact sequence:
- Business Formation — $595 per C-Corp: full C-Corp formation in any state, with EIN, Articles, bylaws and operating docs. (States with government filing fees over $150 may require an additional pass-through fee.)
- Business Launch — $1,145 per company: everything in Formation, plus a Stripe-compliant website with policy links and a dedicated checkout page, business bank account setup and Stripe payment processor setup.
- Alpha 8 Plus — $1,500 for one existing company: for founders already formed — website and landing page, bank and Stripe setup, BBB and Chamber registration, two business credit tradelines, pro domain email, contract templates, a funding strategy guide and a 30-minute CEO strategy call.
Need just one piece? Online business bank setup ($100 per account), Stripe setup ($150 per company) and tradeline setup ($100 per entity) are available individually. Website hosting, domains and third-party subscriptions are billed separately by those providers.
Frequently Asked Questions
What should I do first after my corporation is approved?
Get your EIN. Almost every other step — banking, payments, hiring — depends on it.
Do I have to pay for an EIN?
No. The IRS issues EINs for free.
How long does Stripe setup take?
In our experience it's usually completed the same day, once the business owner completes the identity verification steps.
Can I use my personal bank account for my corporation?
You shouldn't. A dedicated business account keeps records clean and supports the separation between you and your company.
Build It Right the First Time
Want a roadmap before you commit? Download our Free Business Road Map — seven phases from idea to expansion. Ready for help? Book a 30-minute Service Q&A or contact our team, and we'll map your next step.
This article is general information, not legal, tax or financial advice. Requirements vary by state; consult a qualified attorney or CPA for your situation.
