Documenting Business Actions
To protect your personal assets and avoid piercing of the corporate veil, corporations need to:
Create and regularly update bylaws.
Issue shares of stock to owners (shareholders).
Maintain a stock transfer ledger.
Hold both an initial and then annual meetings of both directors and shareholders.
Undertake annual filings required by the state of incorporation (and the state the company is doing business) in on time.
Pay the necessary filing fees and corporate taxes.
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