The Quickest, Easiest and Affordable Way to Incorporate, Register, Create, Start, Establish or Form any type of company in Canada. www.companyformations.ca
Types of Corporations in Saskatchewan In Saskatchewan, there are two types of corporations: â—? a business â—? a not-for-profit Business Corporations A corporation is its own legal entity (i.e. a pretend person), unlike a sole proprietorship or a partnership. The corporation owns the assets and has the liabilities, not the shareholders (or the directors). A corporation may own property in its own name, and it may sue and be sued in its own name. It is the corporation who owns the business, not the shareholders (or the directors). To set up a corporation, you have to file articles of incorporation with the government. You also have to set up a separate bank account for the corporation, and the corporation files its own tax return. The corporation is the employer (not you). Incorporate today a new Saskatchewan Corporation in 1 hour for only $49.99 You can incorporate a corporation to operate your business, and you can be the only director, officer and shareholder. If two or more people set up a corporation they are not partners in the legal sense; they are likely the directors and shareholders of the corporation. Because the corporation is a separate legal entity, you can be an employee of the corporation. Further, the corporation is taxed on its own, and you pay tax on what the corporation pays you (either by way of salary or dividends).