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...
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...
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...
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....
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 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...
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...
What does the IRS class as a "Household Employee"?
"Household employees" are those that perform household work in your private, non-farm home (for example, child care, housekeeping, or gardening work). If you hire someone to do household work and you can control what work he or she does and how he or she does it, then you have a household employee....
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Required Landlord Disclosures by State
The list below is an overview of the most common disclosures landlords must provide their tenants under state law. Note that additional disclosures may be required in some circumstances under local, state, or federal law. This list addresses the following main categories of disclosures: Asbestos Methamphetamine contamination/production Mold Register...