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- [Narrator] A corporation is a type of formal business structure that is more complicated than an LLC, but offers benefits that LLCs do not. Corporations are great if youre looking to raise money from venture capital or looking to list on a stock exchange. Corporations are also able to more efficiently carry money over between tax years. Since the state of New Mexico wants to reduce the cost of doing business, it offers exciting business incentives, like low corporate income tax rates. If you are starting a business and not sure which business structure is best for you, check out our other video, Choosing the Right Business Structure for your Business, linked below. There are two ways to form a corporation. You can form one yourself, or you can hire a service to do it for you. In this video, we will look at both options and help you decide how to go about forming your own corporation. (gentle music) Remember, this video is not legal advice. If you are unsure of whether your company s