The Law Offices of Bradley S. Erdosi represents California Corporations in all stages of the corporate existence, including the inception and formation of the corporation. After the corporation is formed, our attorneys advise corporations on day-to-day matters related to the ongoing operation and compliance issues. Whether you need advice regarding the formation of your corporation, yearly minutes, or a buy-sell agreement, you can count on the Law Offices of Bradley S. Erdosi to assist you step-by-step.
Incorporation Services. Our business law firm will assist you in the establishment of your new corporation. Our firm will file your Articles of Incorporation with the California Secretary of State. We will also prepare all of the documents necessary in order to legally and effectively start your new corporation. Under California Law, a corporation is owned by its shareholders.
Corporate Maintenance. Every year, a corporation must have a meeting of its shareholders. Among the many matters considered at the annual meeting of shareholders, the shareholders must select a board of directors. The directors then select officers of the corporation to run the business and make day-to-day decisions. These actions should all be documented in the annual minutes. Our law firm can assist you in the yearly compliance and maintenance matters associated with the ongoing nature of a corporation.
Buy-Sell Agreements. A buy-sell agreement is essential to ensure the continuity of a business. Generally, a well drafted buy-sell agreement addresses how an owner's interest in the business is transferred in certain circumstances. A buy-sell agreement should specify how a shareholder's interest in a business is to be sold in the event he or she wishes to sell shares of the corporation. Additionally, a buy-sell agreement should detail what happens to a shareholder's interest in a corporation when he or she dies.
Starting A Corporation
In California, a corporation is commenced by the filing of Articles of Incorporation with the California Secretary of State's office.
Prior to filing the Articles of Incorporation, it should be determined whether or not the proposed corporate name is available. A search may be done though the California Secretary of State's website.
Type of Corporation
The Internal Revenue Code allows a corporation to choose between subchapter "S" and "C" status. The choice of "S" versus "C" corporation status refers to the tax treatment of the corporation by the federal government. An "S" corporation may not have more than 100 total shareholders. There is no limit to the total number of shareholders a "C" corporation may have. Additionally, there are several other limitations in order for a corporation to qualify for subchapter "S" status. Generally, an "S" corporation is exempt from federal income tax (excepting tax on certain capital gains and passive income). An "S" corporation's shareholders include their share of the corporation's income on their personal tax return.