Methods of Incorporation: Understanding the Different Options Available

What are the methods of incorporation? Under General Acts there are three method of incorporation, namely: Articles of Incorporation. Letters Patent. Memorandum of Association. These methods are: Special Acts. General Acts. Royal Charters. Read more on A critical first step in creating a legal body that can function independently of its owners is to … Read more

Can an LLC be nonprofit in AZ?

Answer: It can be an LLC if the LLC is wholly owned by a single exempt organization and the LLC satisfies the 12 conditions described in an IRS paper called “”Limited Liability Companies as Exempt Organization Update.”” The LLC cannot have individuals or nonexempt organizations as members, and its organizing documents Read more on … Read more

Is an LLC a Passive Entity in Texas?

Is an LLC a passive entity in Texas? Importantly, a limited liability company does not fall under the definition of a passive entity. Passive income includes, but is not limited to, dividends, interest, distributive shares of partnership income, capital gains from the sale of real property, and royalties. Read more on A Limited Liability … Read more

Do I Need to File a NJ Annual Report?

Do I need to file a NJ annual report? Every business in NJ must file an annual report. This includes simply ensuring that your registered agent and address are up to date, and submitting a $75 filing fee. Failure to file can result in the revocation of your business. Read more on You might … Read more

Does Virginia Allow LLC Domestication?

Does Virginia allow LLC domestication? Virginia allows corporations, limited liability companies and business trusts to change their state of formation by filing articles of domestication. Domestication can occur both ways if allowed by the other jurisdiction (foreign to Virginia and Virginia to foreign). Read more on A process known as LLC domestication enables a … Read more