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Section 4 |
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Corporation Laws |
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| Each state has corporation
laws which regulate the corporate entity and its existence, from conception
to dissolution.
There are different types of corporate entities. These include domestic-profit corporations, foreign-profit, domestic-nonprofit, foreign-nonprofit, professional and limited liability companies. A corporation is domestic to the state in which it was incorporated. A foreign corporation is one which is doing business in another state and is foreign to that state. A profit corporation is self-explanatory. A nonprofit corporation can be chartered in every state, but only the Internal Revenue Service can deem it tax exempt. Each type of corporation is governed by different corporation laws in each state. A copy of the General Corporation Law for any state may be purchased from the Michie Company, P.O. Box 7587, Charlottesville, VA 22906. Telephone number (800) 562-1197 or consult a local law or university library.
Published by: CRA
of America, Inc.™ Telephone
(702) 243-9150 e-mail: info@craofamerica.com |
