Setting_up_a_corporation__dividends - Setting up a...

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Setting up a corporation o Corporations are formed through state law o The state you form the corporation in is its domicile o A corporation can only be domiciled in one state - but can apply for permission to do business in other states o When a corporation is formed in NYS, the incorporated receives a corporate kit that contains templates for corporate documents and blank stock certificates Stock certificates should include the corporate name, stock features, the number of shares the certificate represents and should be prenumbered. A ledger should be kept to keep track of the shareholders Three terms associated with stock o Authorized - the number of shares stated in the corporate charter as being the number of shares the corporation could issue o Issued - the number of shares held by the public Cash xxx Common Stock xxx o Outstanding - the number of shares still held by the public Treasury stock is stock the corporation purchases back from shareholders. Reasons such as protection from hostile takeover,
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This note was uploaded on 02/27/2011 for the course BUS 348 taught by Professor Ettle during the Spring '08 term at SUNY Stony Brook.

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Setting_up_a_corporation__dividends - Setting up a...

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