Why Incorporation Accountant Matters
A business can incorporate provincially in Ontario or federally, and the choice affects where the business is permitted to operate under its name and how it is regulated. Once incorporated, a business becomes a separate legal entity and must file its own T2 corporate tax return, in addition to any personal filings for its owners. Incorporation does not automatically change how HST is charged. an already-registered sole proprietorship generally needs to update its GST/HST account when it incorporates.

