So, you have finally come to the answer of a very tough decision, and you would like to turn your small business into a corporation. Forming a corporation is not an easy task, but if managed correctly you can achieve your goals. Be sure to select a name for your organization that follows your state's corporation rules. Your business's name must not bear any resemblance to any federal government agencies or restricted business, such as United States, Bank, National, or Cooperative. In addition to naming your new business correctly, do not forget to acquire any licenses and/or permits that may be needed. Speaking with an attorney on this subject could prove beneficial.