Tax Liability Requirements of Corporations
Before sorting out the tax liability requirements for different corporations, it is best to know what these corporations means. There is a fine line of difference between what an S Corporation, a C Corporation, and an LLC are. To begin with, a C Corporation is a traditional corporation and an LLC is a limited… Read More
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
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
Agreement Of Merger For Corporate Mergers
Under the California Corporation Code, before initiating a merger, there is a lot that a corporation needs to take care of. The Merger Agreement should be filled out correctly and any sort of mistakes or corrections should be avoided at all costs. Follow these tips to ensure approval, the first time. Tips for Filing… Read More
Are Corporations Complicated?
I’ve heard Corporations are complicated to operate. How difficult is it? If you’re already operating your business as a sole proprietor, your daily activities will hardly change at all. What changes is your frame of mind and how you think for the business. Since the Corporation is a separate legal entity, the business decisions… Read More