Corporate Law

The case does not, however, lessen the importance of solicitors proposing to sue a company checking the status of that company: if the company has been dissolved or struck off there is currently no legal entity in existence to sue and steps will have to be taken. Read more on www.ropewalk.co.uk A company is dissolved … Read more

Is a franchise a shareholder? All in all, the fact that a franchisor is a shareholder in franchised businesses in its network is a business model which, like any other, has its benefits, constraints and challenges. Read more on www.lexology.com Many individuals mistakenly think that a shareholder and a franchise are the same thing. A … Read more

How do I add an officer to my corporation in Illinois? Applicants must update their officer/ownership information with the Illinois Department of Revenue by calling the Central Registration Division in Springfield at 217 785-3707. Read more on www2.illinois.gov It’s simple to add an officer to your corporation in Illinois by submitting the necessary paperwork to … Read more

Is an annual report required in NY? Why Is a New York Annual Report Required? Annual reports are required by statute in nearly every state. They provide state agencies with updated information on the entities registered in their state. Your company is required to file annual reports to maintain good standing and continue operating. Read … Read more

Can an LLC have different classes of stock? Does an LLC Have Classes of Stock? An LLC can have more than one class of members. Different classes may have different rights. For example, one class of members may have preferred rights to distributions from the company that are superior to those of another class. Read … Read more

Is Article of Organization same as article of Incorporation? Articles of Organization are generally used for LLC formation, while Articles of Incorporation are the type of documents that you need to form a C Corporation or S Corporation. But the general concept remains the same – you need to file these articles upfront as part … Read more

Can you backdate an S-corp? Electing S-Corp Status Retroactively is Possible. Going back to enables you to capture the benefits for 2020 and going forward. However, it is possible to go back as far as 3 years and 75 days from the date the change is requested (IRS Late Election Relief). Read more on www.solo401k.com … Read more

What is a noncommercial registered agent? What Is a Noncommercial Registered Agent? Most individuals and many single-state registered agent companies fall under the category of a noncommercial registered agent, which are individuals or entities that have not filed a listing statement with the secretary of state. Read more on www.harborcompliance.com A registered agent must be … Read more

Does New York recognize S corporations? In New York City, S corp status is not recognized, so an S corp will be subject to double taxation and must pay NYC’s general corporation tax. Read more on www.upcounsel.com The quick answer is that yes, S corporations are recognized in New York. A Subchapter S corporation, sometimes … Read more

Can a company’s registered address be a PO Box? A registered office is the legal headquarters and the physical office of the corporation. The address of a registered office must be an actual address and not a PO Box. You can only use a PO Box address if you also provide the full address (including … Read more