Differences Between Flexible Purpose and Benefit Corporations
Back on New Year’s Eve in 2012, Corporation Code Section 2500 et seq. and Section 14600 et seq. created two different business identities, which came to be known as Benefit Corporation and flexible purpose corporation. Both these corporations are allowed to have an organizational structure that encompasses economic benefits and profits along with social… Read More
S Corporations And Tax Savings
There are different forms of operating businesses in the market, which have a separate legal status and are eligible to pay taxes to the government on the amount of profit earned during the year. One type of corporation which is exempt from tax payment is an S Corporation. What is an S Corporation? An… Read More
Types of Organizations and Their Differences
When organizations are in their initial stages, they operate without following any specific structures. Upon experiencing growth, these organizations require being structured so that all functions and services can be looked after properly. As a result, organizations end up being organized into a structural format. Most often, organizational forms help in giving importance to… Read More
How to Go About Naming Your Company?
Why is it that we are able to memorize some brand names while forgetting others? If you can afford to purchase a huge amount of advertising with a vast marketing budget, you can certainly hope to get your company’s name pounded into the memory of consumers through constant repetition of the name in all… Read More
Subchapter S Corporations – What Are They?
Subchapter S Corporations are a unique category of corporations created through an IRS tax election. By electing to be treated as S corporations, companies “pass through” their taxable income, deductions, and credits to owners/investors in the business. This way S corporations are able to avoid double taxation on the corporate income. The S corporations are deemed… Read More
Benefit Corporations – What Are They?
Benefit Corporations, or B Corporations, are a fairly recent form of corporate structure. These corporations are designed for for-profit organizations that wish to take into account the environment and society along with profitability in their strategy and decision making process. The novel corporate approach allows the higher management to see beyond the interests of… Read More
Certificates Of Election or Dissolution – Domestic Stock Corporations
When filing a Certificate of election or dissolution, there are a number of things a corporation should consider; omitting mistakes and spelling errors being the first thing. Even the slightest mistakes could end up in rejection and a penalty. Follow these tips to ensure that nothing is left out. Tips for Filing the Certificate… Read More
Statement & Designation by Foreign Corporations
In order to qualify to carry out intrastate business transactions in Nevada a corporation is required to file a Statement and Designation by Foreign Corporation. According to the Nevada Corporations Code (Section 191), intrastate transactions mean repetitive business transactions in the state other than interstate commerce. Legal Authority These are some of the general statutory filing… Read More
Articles Of Organization – Domestic Limited Liability Companies
Domestic Limited Liability Companies should consider the rule that operating agreements are not actually filed with the Nevada Secretary of State, if they are submitted, they might be returned unfiled. Domestic Limited Liability Companies are required to complete a LLC-1 form, here are some tips which might come in handy. Complete The LLC-1 Form As… Read More
Amendments/Restatements- Domestic Stock Corporations
In order to form a Domestic Stock Corporation (DSC) in the state of California, you need to file the articles of incorporation along with the certificate of determination. However, some documents cannot be filed due to mistakes and errors in the information provided. When making amendments or restatements, Domestic Stock Corporations should keep the… Read More