Corporations
Incorporated Sellers
4FMV for Corporations
The 4FMV sites give you access to companies throughout Canada, who may be looking for your particular skills.
As a corporation, you are very welcome to register as either a Seller or a Buyer – or both – but there are a few details you need to be aware of.
Incorporated Sellers
A Corporation is a separate legal entity which exists under the authority granted by the statute of the province or territory in which it is incorporated. While provincial incorporation is the most common choice, it is also possible to incorporate under the federal statutes granted by Canadian Business Corporations Act (CBCA).
A Corporation has substantially all of the legal rights of an individual and is responsible for its own debts. It must also file corporate income tax returns (separate from personal tax return) and pay corporate taxes on income it derives from its operations. Typically, the owners or shareholders of a corporation are protected from the liabilities of the business. This legal protection afforded the owners of a corporation can far outweigh the additional expense of starting and administering a corporation.
Companies invoicing $30,000 or more per year must register for GST/HST and apply GST/HST to invoices as appropriate to the province in which the work was done. For more information regarding GST and HST, check with Canada Revenue Agency or consult an accounting professional.
Companies located or working in Quebec and invoicing $30,000 or more per year must also register for QST and apply QST to invoices when the work is done in Quebec. For more information regarding QST, check with Revenu Québec or consult an accounting professional.
A Corporation must also adopt and file articles of incorporation and by-laws, which govern its rights and obligations to its shareholders, directors, and officers. Additional registrations and filing requirements may apply to your specific business. Consult an accounting professional to understand your requirements.
Setting your rate
We do not allow any Seller to set an hourly rate lower than the minimum wage for your province.
We advise you to set your rate at a realistic level, bearing in mind that you will need to pay tax. Also, contractors do not receive vacation pay.
Registering as a Buyer
Corporations may also want to buy professional services themselves from our Sellers.
In this case, you can register as a Buyer in the usual way – for more information see the Buyer zone.
If you have registered as a Seller, you will need to register again as a Buyer, as we use cookies to tailor the information you receive on the site, depending on whether you are a Seller or a Buyer.
