Myself and some family members are thinking of forming a corporation to purchase real estate. How does one go about incorporating, and how do taxes and other things like that work?

To incorporate you need to file certain documents with the Secretary of State in the state where the company intends to incorporate.  Depending on the type of entity (ie LLC, S-corp, C-corp) you may or must have some governing document such as bylaws or operating agreement.  As far as taxes, you will need an Employer Identification Number (FEIN), and the tax consequences will be dependent on the entity choice and state taxes.  You should contact a local business or corporate attorney to help you make the correct choice regarding entity type to limit your tax exposure. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.