Corporations

Corporations - Corporations Obama just passed law saying...

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Corporations Obama just passed law saying corporations started in 09 or 10 don’t have to pay tax on 75 percent of profits in 5 yrs FORMATION o A. File Articles of CORP (and pick a state to do it in) Name Number of Shares Agent Purpose o B. Organizational Meeting Appoint Directors Directors do 3 things: o Adopt bylaws Structural rules of how the CO is run o Appoint officers (CEO, CFO, run day to day affairs) o Determine shares Minutes – proof that you have done everything in this meeting o C. Piercing Corporate Veil When Owners Ignore Formalities (don’t fill out paperwork, etc) Thin capitalization (under capitalization) Commingling Don’t mix personal debts with corp. debts o D. Management Structure MGMT: SH Directors Officers
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A. shareholders Powers o Elect/remove directors o Big 4: Amend articles Mergers Dissolution Any major change in biz (selling major asset, changing a restaurant to shoestore)
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This note was uploaded on 11/07/2010 for the course MGMT 180 taught by Professor Freixes during the Summer '10 term at UCSB.

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Corporations - Corporations Obama just passed law saying...

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