Fiduciary Duties for Board Members of a Delaware Corporation
Board members of a Delaware corporation have many fiduciary duties owed to the corporation and its shareholders. This article outlines those various duties.
Can I Be My Own Registered Agent
A registered agent (RA) is the person or entity physically located within the state of registration who is ultimately responsible for accepting service of process, notices, demands, and other governmental communications on behalf of your LLC or corporation.
IRS Form 1099-DIV for Liquidating Distributions from a Corporation
Corporations that wind up operations and liquidate the company's assets may make final distributions to shareholders. Those distributions are generally reported on Form 1099-DIV as a liquidating distribution.
How to File Form 1120 with a Form 5472 for a Foreign-Owned US Corporation
A U.S. corporation with non-U.S. ownership must file a Form 1120 corporate income tax return each year. In addition, it also must file Form 5472 if the corporation had any reportable transactions.
What is a “Per Se” Corporation?
A "per se" corporation is a corporate entity that cannot change its tax classification. Domestic and foreign eligible entities are generally able to file Form 8832 entity classification election.
Conversion of an LLC to a Partnership
A limited liability company (LLC) is an entity formed under state statute. An LLC with one owner is a disregarded entity. By adding new members, the LLC becomes a multi-member LLC taxable as a partnership.
IRS Form 5472 Cost Sharing Arrangements
Form 5472 is filed by a U.S. corporation when its has foreign ownership or transactions with foreign related parties. Any cost sharing arrangements between the U.S. corporation and foreign party must be disclosed on the Form 5472.
S Corporations – Should You Form an LLC or a Corporation?
An S corporation is not a legal entity type. It is a federal tax classification for a business. Many different types of entities can elect S corporation status, so which should you choose?
My Company Was Dissolved – What Did I Do Wrong?
Sometimes a business owner will miss a filing deadline and their company is dissolved. In this article we discuss the details and how to resolve the issue.
How to Pay Yourself From an LLC?
If you're a business owner with an LLC, you'll want to know how to pay yourself from the company's accounts. The payment methods largely depend upon how the LLC is structured for federal tax purposes.