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How to Incorporate Your Band

Before your band makes it big and signs a recording contract with a major record label, you should incorporate your band. A band name is like a brand. Incorporating your band will give it credibility. Incorporating your band will also protect personal assets in case your band is sued. Also if your band happens to split up and there are leftover equipment loans or recording bills, one specific person will not be held responsible to pay off the debt if financed through the corporation.

Instructions

    • 1

      Contact a local entertainment lawyer in your area.

    • 2

      Select a name for your corporation. It is generally accepted to use your band name.

    • 3

      Establish a set of bylaws. These show that all the members of the band are considered shareholders and how the stock will be divided if a member gets permanently injured, fired or decides to quit.

    • 4

      Fill out the necessary forms, particularly Articles of Incorporation and Bylaws. The form for bylaws should pertain to the state in which you are applying to incorporate.

    • 5

      Pay the lawyer's fee and the necessary payment for incorporation.The incorporation fee will vary according to the state in which you are filing. Have your lawyer review and send the necessary forms to the IRS.

    • 6

      Obtain a tax identification number. Once your corporation has been approved, call the IRS and acquire your tax identification number. You can also go to the IRS website and fill out the IRS form SS-4 to receive your tax identification number.

    • 7

      Open a business bank account under the name of your corporation. Choose a bank to open the account. Have a bank employee assist you with opening the account. Have your tax identification number on hand.

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