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Filing Articles of Incorporation and Common Stock

J

JERHEMI

New Member
If someone wanted to file Articles of Incorporation to form a company there is a portion asking about shares of common stock? If the business isn't going to have multiple shareholders and is always going to be owned solely by one person how many shares of common stock should be included for that portion? Thank you
 
SightLine

SightLine

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Typical is 100 but I believe you could just have a single "official"share of stock. Not totally sure on this though as it has been over 10 years since we formed our corp... as a true legal corporations there are legal requirements for things like annual minutes for the board of directors, having a board, etc. There are certain documents that one can file for single ownership that also allows exceptions to some of the traditional requirements. Make sure to get both legal and tax advice. There are a lot of things to be aware of in this sort of a legal entity.
 
binki

binki

New Member
You need to look at the corporations code for the state you are in. some will tax you on the number of authorized shares and some will not. You might want to talk to a CPA on this before you do it.
 
S

SD&F

New Member
Talk to your CPA/ATTORNEY and check your corporate laws in your state. Then you won't have nay issues moving forward that you need to fix at tax time.
 
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