Are 501(c)(3) nonprofit corporations required to make their financial statements available to the public?
Yes, nonprofit corporations are required to make their financial statements available to the public. Form 990 includes a nonprofit’s figures for revenue, expenses, assets, and liabilities, and all 501(c)(3) nonprofits are required to submit Form 990 to the IRS annually. The form also includes the salaries of the directors, officers, and executives o...
What is expedited filing?
Expedited filing is a popular option for corporations seeking to shorten the time it takes to receive approval of their articles of incorporation filed with the state. This option often results in time savings of two or three weeks, allowing the corporation to open its doors and start receiving revenue much faster. The requirements for using expedit...
What is Chapter 7 bankruptcy?
Chapter 7 bankruptcy is a type of bankruptcy that involves a process for debtors to eliminate most of their debts. Through the process, debtors have the opportunity to start over with a clean slate in terms of their debt and credit. It is essentially a process that allows people to start over financially once it has been completed. However, it is no...
Can nonprofit corporations issue shares of stock?
Almost all states expressly prohibit nonprofits from issuing stock shares. This is because, unlike other types of corporations, nonprofits may not operate for profit. Therefore, there is no goal of increasing value for shareholders. Instead, profits get reinvested in the corporation. However, a few states do allow nonprofits to issue stock shares th...
How long does the landlord have to return a security deposit?
Most states require landlords to refund security deposits they collect within a certain time frame after the tenancy ends. Landlords may subtract from the security deposit any proper deductions for repairs and other damages made according to the lease and state law. Below you will find a regularly updated table of how long landlords have to return s...
Articles of Incorporation Pennsylvania
To form a corporation in Pennsylvania, you must file articles of incorporation. The form is customizable. More information about corporate formation can be accessed through the website of the Pennsylvania Department of State. The articles of incorporation must include the following information: Name of the corporation Type of entity Corporate mailin...
Which corporate structure is best for multi members?
For multi-member corporations, the question of which structure is best comes down to the needs and priorities of the corporation. Size If a company elects to have an S corp status, then it will be limited to a maximum of 100 shareholders. If a company elects to have a C corp status, then it can have an unlimited number of shareholders. Also, due to...
Articles of Incorporation Montana
To form a corporation in Montana, you must file articles of incorporation. The form is customizable. More information about corporate formation can be accessed through the website of the Montana Secretary of State. The articles of incorporation must include the following information: Name of the corporation Type of entity Corporate mailing and stree...
Which individuals should use these documents?
Our legal documents help you through important life events, such as planning for your family’s future with an estate plan, caring for loved ones using a power of attorney, and selling and buying property with our real estate forms....
What are corporate bylaws?
Think of corporate bylaws as an internal rulebook for the organization’s key decision-makers. They specify the corporate governance procedures, including how the board of directors and any committee members will be selected, when and how annual meetings will be conducted, and how to deal with conflicts of interest between the company and its decisio...