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Incorporate your buisness - Cooke R.A.

Cooke R.A. Incorporate your buisness - wiley publishing, 2004. - 256 p.
ISBN 0-471-66952-0
Download (direct link): incorporateyourbusiness2004.pdf
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Size Your Investment to Qualify for Treatment
as a Small-business Corporation 70
Who Will Be the Owners (Stockholders) of
Your New Corporation? 71
Determine How Many Shares of Stock Will Be
Authorized and Issued 72
Determine What the Price per Share of Stock
Will Be 74
Determine Who Will Be the Directors and
Officers, and Assign Duties 77
Prepare a Pre-incorporation Agreement 79
Determine Who Will Be the Incorporator(s) 79
Select a Resident Agent for Your Corporation 80
Have All Prospective Stockholders Sign a
Stock Subscription 81
Determine the State in Which You
Will Incorporate 82
Choose a Name for Your Corporation 85
Determine If You Can Use a
Simplified Procedure 88
Prepare a Pre-incorporation Agreement 89
Prepare a Stockholders’ Agreement 90
vii
CONTENTS
chapter 6 Steps to Create and Run Your Corporation 93
Steps to Forming Your Corporation 93
Initial Action the Incorporator(s) Should Take 93
Hold Organizational Meetings 99
Organizational Meeting of the Stockholders 100
Organizational Meeting of the Board of Directors 100 Register Your Corporation with the Internal Revenue
Service (IRS) 100
Register Your Corporation with Your State’s
(and Any Foreign State’s) Tax Authorities 101
Elect S Status for Your Corporation If That Is
Your Decision 102
Pay Particular Attention to the Initial Corporate
Income Tax Return 102
Steps to Keep Your Corporation Alive 103
Hold the Annual Stockholders Meeting Every Year 104
Hold an Annual Board of Directors Meeting
Every Year 104
Special Meetings of the Board of Directors (or of Stockholders If There Is No Board of Directors) 105
Live Your Corporate Life as If You Meant It 105
Nonprofit Charitable Organizations 106
appendix a Useful Forms 107
appendix â Useful Addresses 213
appendix ñ Short Course in Corporate Finance Terms 227
appendix d Glossary 231
INDEX 239
viii
Incorporate
Your Business
CHAPTER 1
Why Should I Incorporate My Business?
T
A he short answer is: It depends on circumstances. Here’s one in which the corporation form of doing business helped cut the tax bite.
Many entrepreneurs start their businesses by sliding into them. Paul did that. Three years ago, he started keeping a few plumbing tools and fittings in the back of his minivan, from which he did plumbing repairs for friends and neighbors on weekends. His reputation for quality work spread, so he was soon able to chuck his day job. (It helped that his wife, Yvonne, pulled down $100,000 per year as an advertising rep.) Life was simple then, for he just drove to customers’ homes, made plumbing repairs, wrote up bills, and collected his money. Because he took care of his customers (and even responded to emergencies at 3 a.m.), his business grew so that he had to hire two more plumbers, two helpers, and buy three trucks for the crews. Along with the increasing business and higher profits came various hassles, such as license requirements in surrounding towns,
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