Consequently, deciding on the form or structure of the business is one of the first important decisions the business owner makes. The choice of the business structure should be made in consultation with your attorney, accountant, or other competent business adviser. Advise on tax issues Assistance in preparation of a business plan Obtaining competent advice and services early in the process of embarking on a business venture can save both time and money by avoiding costly mistakes. A Louisiana corporation is formed by filing the articles of incorporation with the Louisiana Secretary of State. Once the articles are filed they become part of the public records and anyone can obtain the information in the articles of incorporation.
Corporations usually have a set of bylaws which govern how the corporation is run.
These bylaws are not generally a public record. The bylaws are adopted by the shareholders who formed the corporation or by the board of directors elected by the shareholders. The bylaws can later be changed by a vote of the shareholders or the directors, depending upon the provisions of the articles of incorporation or the bylaws themselves. Corporations enjoy many advantages as a business form. Perhaps the most important advantage is that a corporation's stockholders, directors, and officers are not liable for the debts or other obligations of the corporation.