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...

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...

Many states require landlords to keep tenant security deposits in interest-bearing accounts. Often the rules include requirements for notifying tenants of the location of such accounts and related details. Below you will find a regularly updated table indicating whether landlords are required to maintain tenant security deposits in interest-bearing...

Most states have imposed limits on how much landlords of residential leases may charge for security deposits, often capping deposits at an amount equal to one or two months' rent. Below is a recently updated table of security deposit maximums for all 50 states. State-by-State Deposit Limits Alabama One month's rent (excluding pet deposit, changes to...

Although it is legal to have board members that are also paid as employees, it is often not in the best interest of the nonprofit and can lead to potential conflicts of interest between the person’s duties to act in the nonprofit’s best interest as a board member and his or her self-interest as an employee. For this reason, the vast majority of boar...

While there are many important documents needed to help form nonprofits, and the needs of a nonprofit will depend on the state and industry in which it operates, the three vital documents every nonprofit must have are the articles of incorporation, corporate bylaws, and meeting minutes. Articles of incorporation are required for the nonprofit to be...

To form a corporation in New Hampshire, you must file articles of incorporation. The form is customizable. More information about corporate formation can be accessed through the website of the New Hampshire Corporations Division. The articles of incorporation must include the following information: Name of the corporation Type of entity Corporate ma...

In general, an active member of an LLC cannot receive what is commonly known as W-2 income. This is due to the fact that an active member is not considered to be an employee of an LLC. The only exception to this is if an LLC has elected, through the IRS, to be treated as a corporation for tax purposes. In the event that an LLC elects to be treated a...

Articles of incorporation must be filed with the appropriate state division, typically the Secretary of State’s Office. Doing so will give the nonprofit corporate status and all the rights and privileges that come with it. At a minimum, you will need to have the following information available when completing the articles of incorporation: The name...

Although federal law does not require specific language in most organizations’ bylaws, some states require that bylaws be filed at the time of incorporation or shortly thereafter. In most states, corporate bylaws are simply approved by the board of directors at the first board meeting. The board approves subsequent amendments of the bylaws according...