Unlocking Your Business Potential
Why might a business person incorporate a company under a numbered name instead of a trade name when first setting up her company? Numbered companies are always less expensive to incorporate. Numbered companies are cheaper because they do not require the additional NUANS search. They also require less time from your legal professional. This occurs … Read more
What is the piercing the veil of corporate fiction doctrine? Under the doctrine of “”piercing the veil of corporate fiction””, the court looks at the corporation as a mere collection of individuals or an aggregation of persons undertaking business as a group, disregarding the separate juridical personality of the corporation unifying the group. Read more … Read more
What is a Holding LLC company? A holding company is a parent business entity-usually a corporation or LLC-that doesn’t manufacture anything, sell any products or services, or conduct any other business operations. Its purpose, as the name implies, is to hold the controlling stock or membership interests in other companies. Read more on www.wolterskluwer.com An … Read more
Making a company a separate legal entity from its shareholders or owners is done through incorporation. This form of organization has many benefits, such as perpetual existence, limited liability protection for the owners, and the capacity to raise money through the sale of stock. Before beginning the incorporation procedure, there are a number of prerequisites … Read more
Which case was identified as piercing the corporate veil did not allow company officers to hide behind the company corporation? The Doctrine was first established in California in 1921 in Minifie v. Rowley, 87 Cal. 481, 202 P. 673, and is intended to prevent individuals or other corporations from misusing the corporate laws by the … Read more
Can a close corporation be sequestrated? There are two forms of sequestrations / liquidations. This is where an individual or the trustees of a trust applies to court for the sequestration for his own estate or in the directors or members of a company or close corporation applies for the liquidation of the company or … Read more
Do shareholders agreement override articles? Does a shareholders’ agreement override articles? No, a shareholders’ agreement will not override the Articles ? if there is a conflict, then the articles will prevail. Read more on harperjames.co.uk It is essential to comprehend the legal documents that will regulate your new organization before you form it. The Shareholders’ … Read more
Why do companies incorporate in Nevada? Advantages of Incorporating in Nevada. Nevada has no state corporate income tax and imposes no fees on corporate shares. There is neither personal income tax nor franchise tax for corporations or LLCs (but initial and annual statement fees and a business license fee apply). Read more on www.wolterskluwer.com Nevada … Read more
Can an S corp have divisions? Corporations can have multiple DBAs, yes. It doesn’t really matter what you call them – divisions, etc… Read more on www.avvo.com S corporations, often known as S corps, are a well-liked kind of corporate organization in the US. They provide numerous advantages, including limited liability protection and pass-through taxation. … Read more
How do I dissolve a LLC? How to end your business Step 1: Approval of the owners of the corporation or LLC. Step 2: Filing the Certificate of Dissolution with the state. Step 3: Filing federal, state, and local tax forms. Step 4: Wind up affairs. Step 5: Notifying creditors your business is ending. Step … Read more