Many business owners wonder how filing a business bankruptcy will affect their personal credit history, and while there is no exact answer to this wondering thought there are a few principles that apply to different business situations.
The IRS tends to move this link around a bit, so we maintain a link to their online federal tax ID application form: Apply for a Federal Tax Id
The following table sets forth a comprehensive summary of this state’s LLC laws, filing requirements, taxation and more. Keep in mind though, that the information in this table is subject to the whim of each state’s lawmakers, so the information is constantly changing. It’s a good idea to do a reality check with the Secretary [...]
Shopping for a state in which to incorporate? A 50-State Corporation Report Card The following table is an at-a-glance summary of the favorability of various state laws. We examined the state corporation laws of all 50 states, their periodic reporting burdens, taxation burdens, filing fees in order to get a quick overview of how favorable [...]
We have all seen the advertisements touting incorporation services in a particular state. These advertisements appear in media ranging from airline magazines to internet ads. Indeed, in the past thirty years, states have risen to challenge Delaware’s prominence as America’s most popular corporate haven. Specifically, Nevada and Wyoming have been most aggressive in enticing entrepreneurs [...]
The following is our unbiased guide (we offer this free information, but do not provide formation service, just a few ads on this page ) to LLC formation. If you want to learn what an LLC is, read LLCs – Definition and Explanation first. Or if you are ready to check out a great book [...]
The following document is a sample of the recorded minutes of an incorporator taken during the formation stage of a corporation. MINUTES OF ACTION OF INCORPORATOR TAKEN WITHOUT A MEETING BY WRITTEN CONSENT The following action is taken by the incorporator of IDedded, INC., a California corporation, by written consent, without a meeting on [...]
MINUTES OF ACTION OF BOARD OF DIRECTORS OF GREGORY M. MASTERSON CONSTRUCTION, INC., A CALIFORNIA CORPORATION. The director of the above corporation, Gregory Michael Masterson, pursuant to the bylaws of the Corporation hereby submit his written consent in lieu of meeting, and agree unanimously to the following: The Articles of Incorporation of the [...]
What Is an S Corporation? An S Corporation is a C Corporation that elects “Subchapter S” status. All S Corporations begin their lives as C Corporations; Corporations elect to change their status to S Corporations. The S Corporation Election is made by the filing IRS Form 2553 before the expiration of the 15th day of [...]
How to Make the S Corporation Election All S Corporations begin their lives as C Corporations–no Secretary of State in the US makes a distinction between S Corporation and C Corporation. The S Corporation election is just that: an election. The S Corporation Election is made by filing IRS Form 2553 before the expiration of [...]
An unbiased guide to the different types of corporations, including C corporation, S corporation, close corporation, and professional corporation.
Set forth below is an overview of the tax, accounting and general business considerations applicable to typical equity based compensation arrangements. Following the overview are general descriptions of how those considerations apply to three basic types of arrangements: incentive stock options; non-qualified stock options; and restricted stock. Incentive Stock Options (ISOs) Offer Great Tax Benefits, [...]
The mechanics of a spin-off are relatively simple: in a spin-off, a parent company distributes shares of a subsidiary on a pro rata basis to the parent company’s shareholders. As a result, the subsidiary becomes a separate company. The question, however, is how to conduct the spin-off in a manner that falls in step with [...]
“Faithfulness to the formalities is the price paid to the corporation fiction, a relatively small price to pay for limited liability .” -as quoted by the court in Labadie Coal Co. v. Black Liability protection for LLC and corporation owners is not absolute. In a legal sense, corporations and LLCs are legal entities separate from [...]
Comparing Corporations, LLCs, and Partnerships The most common forms of business enterprises in use in the United States are the sole proprietorship, general partnership, limited liability company (LLC), and corporation. Each form has advantages and disadvantages in complexity, ease of setup, cost, liability protection, periodic reporting requirements, operating complexity, and taxation. Also, some business forms [...]