Making a decision to start a new business is a big step in anyones life. Choosing what kind of business to register is also an important decision, as it has implacations for the owners should they choose the wrong kind of business. The team at Register My Biz have been doing this a very long time, and this website is built with simplicity in mind in assisting potential business owners with the tools to make the choices they need to make when registering a new business. Using the RMB team takes the complexity out of starting out, Let us do that hard work for you.
There are different types of corporations for tax purposes, and you have to select the one that accurately describes your corporation type at the end of the tax year. The corporation type determines whether or not the corporation is entitled to certain rates and deductions. Make sure you know which type applies to you:
Canadian-controlled private corporation (CCPC)
(Most Popular)
Other private corporation
Public corporation
Corporation controlled by a public corporation
Other corporation
A change of corporation type may result in significant tax consequences. For example, certain calculations on the return depend on whether the corporation was a private corporation or a Canadian-controlled private corporation (CCPC) throughout the tax year, at any time in the tax year, or at the end of the tax year.
The corporation is a CCPC if it meets all of the following requirements at the end of the tax year:
The corporation is an other private corporation if it meets all of the following requirements at the end of the tax year:
The corporation is a public corporation if it is resident in Canada and meets either of the following requirements at the end of the tax year:
The corporation is a corporation controlled by a public corporation if it is a Canadian subsidiary of a public corporation. This type of corporation does not qualify as a public corporation for the purpose of determining the type of corporation when completing your T2 Corporation Income Tax Return.
The corporation is an other corporation if it does not fall within the other categories.
Examples of other corporations include general insurers and Crown corporations.
Click on the Corporation Button below to begin the registration application process.
